Coinbase Cloud Launches Avalanche Ecosystem Tools Suite

The Avalanche ecosystem will benefit from the development of Coinbase Cloud integration, BTC support, and UST trading.

Coinbase Cloud has recently launched a set of tools to enhance the hub for Web3 developers, which includes the Avalanche blockchain and smart contract platform.

Coinbase Cloud is operating a public Avalanche (AVAX) validator node as part of the new support features. This allows Avalanche network members to stake their AVAX tokens on Coinbase Cloud and delegate power for blockchain transaction validation.

Compatibility with the Ethereum Virtual Machine (EVM) allows a network to benefit from the Ethereum (ETH) network’s security. Tokens on EVM-compatible networks can also be effortlessly transferred across them.

Coinbase Wallet, the crypto exchange’s own Web3-enabled digital asset wallet, also has an AVAX connection. It will also give documentation to developers for deploying applications on the Avalanche network. Last week, Coinbase Wallet launched support for Solana (SOL).

For Coinbase Cloud users, the Query and Transact feature will be improved. This feature makes it easier for developers to locate, interact with, and examine the code that makes up the Avalanche network. Developers may “define who can access the node architecture, and deploy their nodes over four geographic areas and two cloud providers” with little downtime, according to Coinbase Cloud.

Coinbase Cloud is a Web3 developer support platform from the Coinbase cryptocurrency exchange, which debuted in October of last year.

Avalanche has begun rolling out support for the Bitcoin (BTC) network through the Avalanche Bridge, in addition to Coinbase Cloud’s latest additions to the AVAX ecosystem. In the second quarter of this year, full support is scheduled to be completed.

BTC holders will be able to transfer their coins to the Avalanche network and participate in decentralized finance (DeFi) activities there as a result of this.

Avalanche’s co-founder and COO In a March 23 tweet, Kevin Sekniqi summarized the BTC connection with Avalanche, saying, “Defi on Avalanche is going to get a whole lot more orange.”

This new integration was presented at the Avalanche Summit in Barcelona, Spain, where the Terra (LUNA) team also announced that its UST stablecoin is now traded on Avalanche, in addition to the Coinbase Wallet and Bitcoin interfaces. Through investments and new applications, all three developments this week are expected to add value to the Avalanche ecosystem over time.

According to a recent report, AVAX has been down 3% in the last 24 hours and is now down 42.3 percent from its all-time high of $145 on November 21, 2021.