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This platform may overthrow Ethereum

Is Ethereum getting competition from this platform due to its high charges?

Avalanche processed 1.1 million transactions on January 27, according to data shared by Ava Labs CEO Emin Gun Sirer. Avalanche is a smart contracts platform. It has now taken up 96 percent of Ethereum’s load, putting it on the verge of overthrowing the market leader. Avalanche is the fifth-largest smart contract platform, with USD 8.17 billion in total value locked (TVL), according to DefiLlama statistics.

According to Messari, the blockchain recorded 0.45 million daily transactions in the fourth quarter of 2021. Messari is a market intelligence platform in the crypto world. On the other hand, Ethereum saw an average of 1.25 million transactions each day. Avalanche is becoming attractive among fee-sensitive users.

In a recent tweet, Siere compared the average transaction fee on Avalanche and Ethereum platform. Avalanche charges USD 0.23 while Ethereum charges as much as USD 0.62. 

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