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- Avalanche got a booming start in 2023, ranking above Chainlink at 15.
- Avalanche surged by 82% at the beginning of the year as compared to 2022.
This is a year full of exciting crypto news! For the very first time Top Crypto Bitcoin passed the $30,000 price threshold. Now is the accurate time to engage and invest before the prices continue to rise, but what project is the best option to start with?
Chainlink (LINK) and Avalanche (AVAX) are two of the most eye- catching crypto around at this time, but which is the better?
Which is the Top Crypto Project ?
Chainlink is no longer the top crypto project. Still it is in the top 50 cryptos by market cap. Chainlink has hit the highest peak in the year 2021, setting a high of $52+. Though it has grown in dominant form it is no longer priced that high.
Chainlink is the common procedure that borrows the maximum Oracle network to enable smart contracts to connect globally and allow secure and safe chain interaction between linked blockchains.
The sources reveal that the processing of data is made very easy and all the necessary information are readily available. The utility token “LINK” is given to node operators, who are basically the Chainlink users.
On the other hand Avalanche (AVAX), which is a platform based on an algorithm called Avalanche- X has high scale or repetency and low latency. It supports Ethereum based dApps. The aim of Avalanche is to be a platform that provides a base to developers to build DeFi applications that are safe and secure.
Chainlink and Avalanche both have their definite characteristics. Chainlink decentralized oracle data can hold the fair amount of data and scale to meet the requirements of the oracle network whereas Avalanche works on PoS, making it the perfect platform for building DeFi applications.
Experts say that crypto projects run on security. In other words, the more tough the security, the more safe the data. In Chainlink the decentralized network of nodes makes it difficult for hackers to compromise the system. Whereas Avalanche has a unique security feature known as Avalanche-X which ensures that the network remains protected.
Latest news suggests that Avalanche is receiving more attention from the DeFi community due to the reason of high repentance and low latency. This makes it a perfect platform for building applications based on DeFi. A lot of benefit is resulted due to the collaboration of Avalanche with other blockchain projects.
Collateral verification of bundle assets, prevention of program trading opportunities and circuit breakers are the resulting benefits of this association. These all reduce the risks linked with cross-chain malware. That is why Avalanche is popularized as smart contract platform. It definitely has low transactional cost and infinite scalability.
While on the other side Chainlink has gained more visibility due to its partnership with major companies like Oracle and Google. It provides accurate and trust worthy data to dApps. It helps in the multiplication or increase of more decentralized investments.
Chainlink or Avalanche which is a better crypto project, the answer depends on the specific needs and demands. Both, the projects have their particular weaknesses and plus points. So, it is entirely based on the needs. But, we have to keep our eyes and ears open to see whether both will continue to hype or not?
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
