Coinbase Cloud launches new tools suite targeting Avalanche (AVAX) developers

Coinbase Cloud has announced the launch of a suite of tools that will support the growth of the Avalanche (AVAX/USD) blockchain and boost the execution of smart contracts on the platform.

The Avalanche blockchain has seen commendable growth over the past year. The network is now deemed an Ethereum killer, given that its transaction fees are relatively low, while the network speeds and significantly high.

Coinbase Cloud launches Avalanche tools suite

Coinbase Cloud will now run an Avalanche public validator node. This node will allow participants on the Avalanche network to stake AVAX tokens using Coinbase Cloud and allocate power to validate transactions.

Moreover, AVAX will be integrated with the Coinbase wallet. The latter is a digital asset wallet running on Web3 that provides seamless interactions with decentralized applications (DApps) running on the Avalanche network. Last week, the Coinbase wallet announced support for Solana and SOL-based tokens.

Coinbase Cloud will boost the Query and Transact feature available for its users. The feature will support developers to easily interact with the code of the Avalanche network. Coinbase will allow developers to “configure who can access the node infrastructure and distribute their nodes across four geographic regions and two cloud providers.”

Developments on the Avalanche network

Besides the integration on Coinbase Cloud, other developments are also happening within the Avalanche network. One of these is the support for the Bitcoin network using the Avalanche bridge. Bridging with Bitcoin will be enabled by the second quarter of this year.

This bridge will allow Bitcoin holders to transfer coins into the Avalanche network while participating in decentralized finance (DeFi) projects.

Avalanche is also holding the Avalanche Summit in Barcelona, Spain. Terra (LUNA) announced that its UST stablecoin would also be tradable with the Avalanche network during this summit. This development is also poised to add value to the Avalanche network by attracting new investments and applications.

Despite these developments, AVX is yet to make a notable recovery. The token is 41.5% below its all-time high. AVAX was trading at $84.78 after a 3.6% dip in 24 hours at the time of writing.  

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