It's an exciting time for blockchain platforms right now. Everyone is trying to break Ethereum's dominance in the industry, pushing their products as hard as they can.
One of the high-performance blockchains on the radar, Avalanche recently broke out with a massive deal that could significantly boost adoption.
Tapping One of the Big Four
This week, Deloitte - one of the four biggest auditing and financial services firms globally - announced it partnered with Ava Labs to use the Avalanche blockchain for disaster relief. In an official announcement, Deloitte explained it will use the blockchain on a new cloud disaster relief platform where local and state governments can list their eligibility for federal disaster relief funding.
The platform, called Close As You Go™ (CAYG), will help expedite government disaster relief applications for the Federal Emergency Management Agency (FEMA). By using the Avalanche blockchain's infrastructure, CAYG can offer a transparent and decentralized system to connect funding sources and recipients.
Avalanche gathers, processes, and authenticates all required documentation, improving the accuracy of government disaster claims. Ava Labs explained in a blog post that they hope to help Deloitte cut out abuse, fraud, and waste in disaster management and relief processes. Ava Labs' president John Wu stated:
"Close As You Go features a user-friendly interface backed by the cutting edge of blockchains, helping state and local governments focus on their recovery rather than extensive claims processes. We're proud to work closely with Deloitte to offer this new, secure and beneficial technology for communities across the country."
With CAYG, Avalanche also hopes to improve document preparation and retention, cost reduction, risk mitigation, and compliance.
AVAX Jumps on Deloitte Integration News
The news was an immediate boon for Avalanche and its AVAX asset. AVAX is now among the top 20 most valuable cryptocurrencies, joining the top 10 for a while before being knocked out by Dogecoin.
Just days after the Deloitte news was announced, AVAX's price hit a new high of $146.85, an over 100 percent increase in the asset's price since the month began. AVAX's price has since dropped due to the broader market correction, but analysts predict it could still rise once the bulls take over.
More significantly, the AVAX news suggests that Ethereum's competitors have a lot to offer. For months now, several blockchains have thrown their hat in the ring, looking to usurp Ethereum as the top blockchain platform in the crypto industry. Names like Solana and Cardano have become more prominent, and many have spent hundreds of millions to lure developers on their blockchains.
A Blueprint for Ethreum's Competitors
Avalanche's partnership with Deloitte shows that even big firms have a lot to gain from blockchain. Blockchain developers can do more than try and lure individual developers onto their platforms.
Solana has done incredibly well over the past few months. The blockchain hadn't been the loudest on the scene, but gains in the value of its SOL token through September and October earned developers a lot of money. In the past 30 days, they've made massive moves to ensure that the Solana blockchain stays functional.
In October, the privacy-friendly browser Brave announced its upcoming integration into the Solana blockchain. The integration will allow Brave's browser to feature decentralized applications (dApps) built on Solana. Solana will also promote Brave's Basic Attention Token (BAT) to users.
Solana Labs has also partnered with TFX and Lightspeed Venture Partners to launch a $100 million ecosystem fund for Web3 gaming developers. The funds will be invested in gaming firms, studios, and other companies looking to grow blockchain in the gaming space.
Moves like these will ensure that Solana remains a force to be reckoned with. Blockchain developers need to think about their place in the industry's future, especially if Ethereum completes its proof of stake (PoS) transition with the Ethereum 2.0 upgrade.
Currently, Ethereum 2.0 is looking to solve Etehreum's scalability problem. If this goes off without a hitch, Ethereum will hold its position in the blockchain industry, and there won't be much reason for developers to switch to competing chains.
It could be a massive wipeout for those "Ethereum killers" that have been vying for Etherem's market share all year. But, with initiatives like those from Solana and Avalanche, these Ethereum killers could still shine among developers and retain their users.