Amberdata has announced to add Avalanche Network to its line-up of supported blockchains. Adding Avalanche Network gives network participants access to granular and dynamic data that they can leverage to power their research, analytics, trading, and reporting.
Amberdata has created a proprietary blockchain network data set with many use cases. The proprietary data set can provide low latency access to transactions, events, contracts, and logs based on blockchain for every digital asset.
Data provided will enable the institutional market participants to analyze and understand the smart contract mechanisms of crypto-economics.
The Avalanche DeFi system is comparatively robust and needs to be updated with the changing times. Addition by Amberdata looks to execute a similar objective by ensuring that it takes the unique approach of DeFi to the robust DeFi system of the Avalanche network.
This means that the participants will gain direct access to the real-time and historical block-by-block events at three levels: protocol, assets, and wallet.
Institutional participants get better access to DeFi data required to determine the performance of assets & liquidity and evaluate how well DeFi protocols function. Moreover, participants can better manage their holdings under the integration.
The update was shared with the community by Avalanche through a blog post where the team highlighted a statement issued by Shawn Douglass, the Chief Executive Officer of Amerdata.
Shawn Douglass appreciated Avalanche for attracting many projects on the network with its performance, low cost, and high-security offerings. Shawn Douglass added that the integration with Avalanche would enable them to provide a more comprehensive and high-fidelity Avalanche network & DeFi data to institutional participants to support their research, trading, risk management, accounting functions, and compliance endeavors.
Luigi D’Onorio DeMeo, the Head of DeFi at Ava Labs, assured that Amberdata would shine a light on Avalanche and Avalanche DeFi for institutions.
Luigi D’Onorio DeMeo added that the initiative would enable investors to understand better and adopt Avalanche once the demand for digital assets and DeFi services grows.
Amberdata targets the crypto world to dig a detailed insight into the digital space and deliver comprehensive data. Other segments scanned by Amberdata are decentralized finance and empowering financial institutions.
Financial institutions rely a lot on the data provided by Amberdata to trade, research, and analyze the space before taking a decision. An informed decision enables them to mitigate the volatility in the market and stay on a better side to minimize or avoid the loss.
Avalanche is a smart contract platform known for its speed in terms of time to finality with the maximum number of validators on board. Validators mainly secure the activities of the participants on the proof-of-stake protocol.
Users on Avalanche Network secure a better deal with low cost and green objectives as the top priority. Smart contracts deployed in Avalanche are known to outperform other players in the industry.