PlaySync and Loyalty Marketing are joining hands with Avalanche to come up with a chain that goes on to serve the community of over 100 million users. While that ecosystem of a hundred million users belongs to Loyalty Marketing, PlaySync is sure to benefit as well since its Ponta will remain in the picture throughout the duration.
The objective is to add support for Web3 services, enabling developers to build applications that function better in the upcoming decentralized internet. Their association is expected to go live by the end of 2023. Plans are in the pipeline to mass distribute non-fungible tokens.
A problem that they are attempting to solve is high gas fees and slow transaction speed. The implementation on a public chain is something that could go on to pose a threat to the bottom line. However, the architecture of Avalanche solves that problem for them while allowing them to work as validators.
Gas fees, for clarification purposes, refer to the fees that users shell out while executing a transaction on the blockchain.
Simply put, PlaySync and Loyalty Marketing are venturing out to create a new consortium chain on the grounds of the fastest architecture provided by Avalanche.
Avalanche has been chosen as the preferred partner for two key reasons. These are:
- Class finality algorithm supplied by Avalanche – teased as the fastest in the world
- Compatibility with smart contract as an EVM – Ethereum Virtual Machine
Avalanche brings benefits, definitely, making it an ideal candidate for the association. PlaySync and Loyalty Marketing have stated in the announcement that they would be leveraging such capabilities of Avalanche to advance their cause of serving millions of users. Ultimately, it will come down to providing services that are multi-functional and high-speed in nature.
Specifically speaking, PlaySync and Loyalty Marketing will be riding high on the Avalanche subnet as they play the role of validators on the network.
A new chain is yet to attain life. Both partners have clarified that certain features will be present in the mechanism, giving a sign of relief and something to look forward to. Ponta is something that is majorly mutual for both of them. The points will be made available for users at the time of making payments. This will eliminate the need to build crypto assets. Ava Labs’ cloud service will have its doors open for the project. It will grant them access to AvaCloud with a robust infrastructure.
Both will use consortium chain format to operate validator nodes. Finally, EVM compatibility will make it convenient for third-party applications to gain access to the ecosystem. This includes those which are already provided by others.
Blockchain technology, if not crypto, is gaining traction at a constant speed. The partnership between Ava Labs, Loyalty Marketing, and PlaySync will take it to the next step. This partnership is simultaneously aiming to bring out the true potential of blockchain technology for value creation.