Web 3 and blockchain infrastructure provider Coinbase Cloud has announced the launch of a suite of blockchain solutions and services for the growing Avalanche ecosystem.
Coinbase Cloud revealed running a public validator on Avalanche that enables delegators to stake their AVAX tokens. They contribute to the growth and security of the network by verifying transactions, participating in consensus, and adding blocks. Delegators, on the other hand, can contribute to validators by staking the AVAX tokens.
Building Next Big Avalanche Project
According to the official blog post, Coinbase Wallet SDK allows devs to amplify their app’s reach to millions of Coinbase users, and offer access to the Avalanche ecosystem via Coinbase Wallet.
With the AVAX integration on Coinbase Wallet, users can leverage built-in fiat onramps to buy the token from the exchange. In addition to Avalanche C-Chain and the Fuji testnet, Coinbase Wallet also offers EVM-compatible subnets.
Coinbase Cloud’s Query & Transact infrastructure is also under development. This feature would enable developers to seamlessly access data from the Avalanche network with a 99.9% uptime guarantee.
Additionally, the Query & Transact infrastructure will be easily customizable via the Coinbase Cloud web interface to accommodate their needs. Developers can also “configure who can access the node infrastructure, and distribute their nodes across four geographic regions and two cloud providers to serve traffic globally with low latencies.”
Joe Lallouz, head of product at Coinbase Cloud commented,
“We couldn’t be more excited to work with the Avalanche team to empower builders and participants. Avalanche is contributing to building a more vibrant and accessible Web3 economy, and we are looking forward to working with them to help the network grow and scale.”
The latest developments comes in the heels of Avalanche Bridge expanding its support for Bitcoin network by allowing BTC holders to transfer their coins onto the Avalanche public blockchain and use it within its decentralized finance (DeFi) ecosystem.
“Amazon Web Services of Cryptocurrencies”
Launched in October 2021, the main objective behind Coinbase Cloud was to “empower” developers to build their applications at a much faster pace.
According to Surojit Chatterjee, Coinbase Chief Product Officer, Coinbase Cloud aims to become the “Amazon Web Services of cryptocurrencies.” For the uninitiated, the platform was formerly Bison Trails, a staking infrastructure compamy that the exchange giant acquired for a reported price of above $80 million last January.
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