In the latest release of Edge, we’ve added support for Avalanche.
The integration of Avalanche in Edge marks our next step toward a deeper integration with Decentralized Finance (DeFi), a suite of innovative tools based on smart contracts, designed to help build a brand new financial services ecosystem with no intermediaries.
What is Avalanche?
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. The network prides itself on speed, low cost fees, and eco-friendliness. It is compatible with Ethereum smart contracts and tooling, enabling Ethereum users and developers to quickly access high-performance decentralized apps.
Since launching in September 2020, Avalanche is one of the fastest organically growing ecosystems in crypto. The network now has over 350 projects building on the platform, including top-tier DeFi projects like Aave, Curve, BENQi, Sushi, and Chainlink, as well as enterprise applications for leaders in culture and sports with Topps and Andretti Autosport.
Avalanche is seeing all-time highs in user activity, including transaction volume, unique addresses (now over 1.5 million), and assets transferred from Ethereum to Avalanche over the Avalanche Bridge ($5.4B).
In addition, the Avalanche Foundation established Blizzard, a $200M+ investment fund dedicated to accelerating development, growth, and innovation across the ecosystem.
The Avalanche network is built on a novel Proof-of-Stake (PoS) consensus algorithm of the same name, and comprises three different blockchains: the Exchange Chain (X-Chain), the Platform Chain (P-Chain), and the Contract Chain (C-Chain).
The X-Chain is where all transactions and minting of new coins occurs. This chain also allows developers to create new digital assets and exchange those across the subnets – a dynamic set of validators tasked with achieving consensus on one or more Avalanche blockchains.
The P-Chain is responsible for network validation, staking, and delegation, whereas the C-Chain, Avalanche’s Ethereum Virtual Machine (EVM) implementation, is where developers build new applications. The C-Chain is also used as a bridge to import dApps created on Ethereum onto the Avalanche network.
Create your AVAX wallet in a matter of seconds
To add an Avalanche (AVAX) wallet in Edge, there’s no adding custom networks with complex chain IDs or anything of the like. Creating your AVAX wallet is only a couple of taps away:
1. On the Wallets screen in Edge, tap the + symbol
2. Choose AVAX as your wallet type
3. Specify the fiat currency denomination of your wallet
4. Name your wallet
5. Confirm details, and your wallet is created
Want to participate in the Avalanche network? Try Edge today!
With seamless wallet creation and readily available exchange integrations, all inside of an easy to use self-custody application, Edge has now introduced another way for Avalanche users to be part of the network.
With Edge, users can easily use dApps running on the Avalanche blockchain, as well as buy, sell, and trade AVAX, the network’s native token.
Edge was designed to be easy enough for the everyday user, while including functionality even advanced enthusiasts appreciate. We’re excited to be supporting Avalanche as the network is building a thriving ecosystem of blockchain applications and tools.
For those interested in using the Avalanche protocol in Edge, click here. To stay up to date with Edge company announcements and the latest developments in the crypto space, be sure to sign up for our newsletter below.