Avalanche

The live price of Avalanche today is $17.41 USD. AVAX is up 0.23% in the last 24 hours compared to $USD. Avalanche has a live market cap of $49,144,728,752.44 USD, and a circulating supply of 410,843,926 AVAX.

What Is Avalanche (AVAX)?

Avalanche is a layer one blockchain that is used to create decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals and it aims to be better than Ethereum by being able to handle more transactions per second (up to 6,500) while still being scalable.

Avalanche’s unique architecture is what makes it possible. Avalanche has three different blockchains- the X-Chain, C-Chain, and P-Chain. Each chain serves a different purpose that is very different from Bitcoin and Ethereum. Each chain also uses a different consensus mechanism based on its specific needs.

After it goes live on its own blockchain in 2020, Avalanche has been working on establishing its own ecosystem of DApps and DeFi. SushiSwap and TrueUSD are two Ethereum-based projects that have linked up with Avalanche. Furthermore, the platform is always improving interoperability between its ecosystem and Ethereum, for example through the development of bridges.

Who Are the Founders of Avalanche?

Avalanche was created by Emin Gün Sirer and Kevin Sekniqi, who are both Cornell University professors. Emin Gün Sirer is a experienced in cryptographic research, and he also worked on Bitcoin scaling solutions and Ethereum before The DAO hack in 2016.

The whitepaper that led to the foundation of Ava Labs was researched in 2018. In February 2019, the project closed a seed round that included investors such as Polychain, Andreessen Horowitz and Balaji Srinivasan. Avalanche also closed its initial coin offering in 2020 in under 24 hours, raising $42 million in the process

What Makes Avalanche Unique?

Avalanche is trying to solve the blockchain trilemma. This is a problem that says blockchains can’t be decentralized and have scale at the same time. This leads to high gas fees, which is often the case on Ethereum.

To solve this problem, Avalanche designed three different blockchains that work together.

  • The Exchange Chain (X-Chain) is used to create and exchange the native AVAX tokens and other assets. This is done in a similar way to how the ERC-20 standard works on Ethereum. The Avalanche consensus mechanism is used to make sure everything goes smoothly.
  • The Contract Chain (C-Chain) is a place where people can put smart contracts and decentralized applications. It has its own Avalanche Virtual Machine, which is similar to the Ethereum Virtual Machine. This allows developers to create DApps that are compatible with the EVM. The Contract Chain also uses the Snowman consensus mechanism.
  • The Platform Chain (P-Chain) manages network validators, keeps track of active subnets, and allows for the formation of new ones. Subnets are comparable to a validator cartel in that they contain sets of validators. A blockchain can only be validated by one subnet at a time, but many blockchains may be validated using the

The separation of computing functions allows for greater throughput while retaining decentralization. Private blockchains on the network, for example, may require the validators of a subnetwork to be sufficiently dispersed or comply with certain rules. Avalanche enhances its interoperability with other blockchains that want to join the ecosystem by following this modular approach. Furthermore, by adopting two different

Related Pages:

Check out Cardano (ADA) — a popular layer one blockchain.

Check out Solana (SOL) — another high-speed layer one blockchain.

How Many Avalanche (AVAX) Coins Are There in Circulation?

AVAX will be released in two stages. The first stage will release 720 million tokens, with the following token distribution:

  • 2.5% – seed sale, with 10% released on mainnet launch and the rest being released every three months.
  • 3.5% – private sale, with 10% released on mainnet launch and the rest being released every three months.
  • 10% – public sale, with 10% released on mainnet launch and 15% released every three months over a period of 18 months.
  • 9.26% – allocated to the foundation, released over ten years.
  • 7% – community endowment, released over twelve months.
  • 0.27% – testnet incentive program, released over one year.
  • 5% – strategic partners, released over four years.
  • 2.5% – airdrops, released over four years.
  • 10% – team, released over four years.
  • 50% staking rewards

If you stake AVAX, you will receive an annual reward of 11.57%. This means that you will need to keep your AVAX for a minimum of two weeks and have at least 2,000 AVAX to be eligible for the reward.

How Is the Avalanche Network Secured?

AVAX is traded on the Exchange Chain, which follows its own Avalanche consensus mechanism. This means that there is no one leader processing transactions that get validated by others. Instead, all nodes process and validate transactions by employing a directed acyclic graph (DAG) protocol.

This way, transactions are processed at the same time. Validators check transactions to make sure they are correct. There are no blocks in this system, so the transactions are finalized right away. This makes the blockchain faster.

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