Bitcoin.com multichain wallet has now added support for the smart contract platform Avalanche. The support was prompted by the development of the Bitcoin.com ecosystem token $VERSE.
Details On The Support
Bitcoin.com, in its recently published press release, announced they had added the Avalanche Network to their self-custodial Web3 wallet. Users of the wallet are now able to interact with the Avalanche network, including buy, sell, send, receive, and manage $AVAX.
“The potential of decentralized finance to create economic freedom is vast, but to realize that potential, we need to democratize access. And for that, it’s essential that we provide a low-fee environment,” said Bitcoin.com CEO Dennis Jarvis.
In addition, users of the Bitcoin.com wallet can also now trade tokens built on the Avalanche network and also interact directly with hundreds of Decentralized Apps (DApps) and protocols hosted on the high-throughput Ethereum Virtual Machine (EVM)-compatible network enabling use cases such as staking, borrowing and lending, prediction markets, and synthetic assets.
Reason For The support
According to Dennis Jarvis, CEO of Bitcoin.com, the Avalanche network is fast and cheap in processing transactions. In addition, decentralization on the network is decent, allowing for max security and refusal of censorship.
“The Avalanche network is fast and cheap while also offering a high level of decentralization, which is critical for security and censorship resistance. “ said Dennis.
Furthermore, the Avalanche network has seen rapid growth over the past years, which has attracted a vast range of high-quality DApps. Dennis said with the smart contract gaining much traction. It increases its utility for Bitcoin.com’s millions of users.
“Importantly, Avalanche has also attracted a huge range of high-quality DApps, which increases its utility for our millions of users.” Said Dennis Jarvis CEO of Bitcoin.com
It was further stated in the press release that Bitcoin.com’s support for Avalanche was motivated by the development of the Bitcoin.com ecosystem token $VERSE, which will be launched on Ethereum but also be bridged to Avalanche.
Although the $VERSE token hasn’t been launched yet, however, according to Bitcoin.Com, the token will require a low-fee smart contract platform to enable the small, frequent transactions associated with the token’s utility and rewards functions.
About Bitcoin.com
Bitcoin.com has been a global leader in introducing newcomers to crypto ever since 2015. The platform features accessible educational materials, timely and objective news, and intuitive self-custodial products. With its multichain Web3 self-custodial wallet, Bitcoin.com makes it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.
