Ethereum Rival AVAX Makes Waves In Enterprise Adoption

There are all kinds of interesting things going on in the crypto space these days. Check out the latest reports revealed by the online publication the Daily Hodl.

An Ethereum (ETH) competitor is making waves these days in terms of earning institutional acceptance, according to a new report from Galaxy Digital.

The digital asset investment management firm says the smart contract platform Avalanche (AVAX) has already gained “meaningful traction” regarding decentralized finance.

Galaxy Digital also notes that Ava Labs, the technology company behind Avalanche, hopes to make headway into the traditional financial sector.

“As examples, ReTok Finance has chosen to build on Avalanche to offer fractional property ownership and Ryval has offered Initial Litigation Offerings, a litigation financing product for individuals to litigate or arbitrate civil claims.”

He also said:

“Many other token use cases, including security tokens, have yet to materialize.”

Galaxy Digital also made sure to list the numerous partnerships Avalanche secured in November and December, including a strategic alliance with the Big Four accounting firm Deloitte.

It’s important to note the fact that Deloitte teamed up with Ava Labs to use the Avalanche blockchain in a new disaster recovery platform, Close As You Go. As the online publication mentioned above notes, this has been designed to simplify reimbursements for natural disaster victims.

Ethereum’s founder Vitalik Buterin is addressing the invasion of Ukraine by Russia. He said that while Ethereum is a neutral project, he as a person is not.

He made sure to denounce Russia’s invasion and he took to Twitter to blast Russian president Vladimir Putin’s decision to launch the latest attack.

Here’s what he said in a tweet that the Daily Hodl translated from Russian:

“Very upset by Putin’s decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead.”

Stay tuned for more news.