What is Avalanche, And How Did AVAX Make It To the Top 10 Coins?

What is Avalanche? Top Ava features

  • Scalability and speed. Avalanche can process up to 6500 transactions per second compared to Ethereum’s 10–15 and Bitcoin’s 7 TPS. It finalizes payments faster than in 1 second, and fees are low: usually, they are around $0.2–0.5.
  • Huge possibilities to build. Businesses and developers can create smart contracts, decentralized apps, and dedicated blockchains called subnetworks. Anyone can build a token, a financial service, or mint an NFT on Avalanche. The platform has strongly improved its position at the DeFi market in 2021.
  • It’s easy to build on Avalanche. You can customize your smart contract or subnet to whatever needs your project has. It’s possible to enable private transactions, make your network permissioned or permissionless, and much more.
  • Avalanche is based on three blockchains. X-chain powers AVAX transactions and custom tokens, C-chains allows deploying smart contracts, and P-chain enables the creation of subnets while coordinating network validators.
  • Unique consensus mechanism. Unlike Bitcoin, Ethereum, and most of the Proof of Stake coins, the Avalanche consensus allows all nodes to participate in validating transactions, making the network decentralized and secure. And this security is very affordable: any node can validate Avalanche transactions even with a CPU.
  • AVAX token. The platform’s native asset is used for fees: like gas in Ethereum, AVAX is paid by users for sending transactions, by devs for painting their assets, and more. AVAX fees are burned, which makes it deflationary and thus helps its value rise.

What is the team behind Avalanche?

Avalanche roadmap

  • In Q1, over $1 billion has been traded on all Ava-based DEXes.
  • AVAX worth over $10 billion are staked on the platform.
  • The Avalanche-Ethereum bridge was developed in Q1 and has become 2 times faster and 5 times cheaper by Q3. The bridge allows developers to deploy EVM-compatible contracts on Avalanche.
  • Ava launched the Initial Litigation Offerings. An ILO is when a user doesn’t have money for legal costs and asks retail investors for money, and they profit from the financial outcomes of the case.

Avalanche network: validation and 3 chains

How Ava confirms transactions

Three networks of Ava

Can you mine AVAX?

AVAX price dynamic and prediction for 2022 and on

Where can I buy AVAX?

Where should I store AVAX?

Bottom line

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