What is Avalanche Crypto (AVAX) ?
Avalanche (AVAX) is a cryptocurrency and blockchain that rivals Ethereum. AVAX is the native token of the blockchain that bears the name of the project: Avalanche. Like Ethereum, it uses Smart Contracts and aims to facilitate the development of blockchain projects.
Smart contracts are hosted on a blockchain and whose terms are automatically fulfilled when they are encountered. They are among the major innovations of the blockchain ecosystem.
The Avalanche blockchain allows near instantaneous transactions. AVAX is used to pay transaction fees and secure the Avalanche network.
The Avalanche blockchain is said to be able to process 4,500 transactions per second.
Launched in 2020, Avalanche aims to be fast, versatile, secure, affordable and accessible. Avalanche is an open-source project, which means anyone can view and contribute code to the platform.
Understanding the Avalanche crypto project
Avalanche’s smart contract platform supports both decentralized applications (dApps) and standalone blockchains. Avalanche is fully compatible with Ethereum applications and tools but offering higher speeds, larger orders and lower fees.
Here are some of the features of Avalanche :
- The amount
- The structure
- The cheking process
Amount of Avalanche tokens created
The maximum AVAX supply is 720 million tokens, but AVAX users govern the speed at which new coins are mined. AVAX holders can control the rate of creation of new coins by voting to adjust the amount of AVAX that is given as a reward for adding a new block to the Avalanche blockchain.
Structure of transaction fees
Transaction processing fees vary depending on the type of transaction and congestion on Avalanche’s network. Users vote to decide transaction fees, which makes AVAX’s fees variable over time.
The consensus mechanism
Transactions on the Avalanche blockchain are confirmed using a unique method. These are random sets of network participants who confirm transactions before they are finalized.
The amount of AVAX rewards a network participant can earn for processing AVAX transactions may increase if that participant has high uptime and fast response time.
Advantages and disadvantages of AVAX crypto
Here are the pros and cons of Project Avalanche.
- Fast transactions
- High rewards
- Able to support many blockchain-based projects
- Big competition (Ethereum for example)
- Significant staking (more than 2000 AVAX tokens to validate a block)
Do you have to buy AVAX ?
Without a doubt, Avalanche has some potential and is one of the most attractive cryptocurrencies. Its token, AVAX, provides high transaction security coupled with a scaling speed of one trillion per second.
The team behind the project is still very active and is developing Avalanche with great conviction.
In the world of crypto investing, AVAX is already part of the wallet of most traders and investors. Investors find a reliability factor in this token.
Avalanche also benefits from a very active community, which believes in its development and its propagation. The token is available on the largest exchange platforms (exchanges) and is one of the most followed cryptos. In addition, Avalanche continues to make partnerships around the world with a real project to create an egalitarian, sustainable and decentralized environment.
Everything suggests that Avalanche is one of the cryptos to bet on before biting your fingers in a few months / years.
Obviously, it is impossible to ensure that the AVAX will increase in value. Like all cryptocurrencies, the volatility is enormous and it is impossible to predict anything with certainty.
We only report here facts but we absolutely do not advise you to buy, or not, Avalanche. Any investment should be thoroughly studied on your part and you should always be aware of the risks before buying any crypto.
How to buy Avalanche (AVAX) ?
Like all cryptos, there are several ways to obtain AVAX tokens. The main ones are :
Being one of the most valued cryptos, AVAX is available on the biggest crypto exchanges.
As a reminder, trading platforms (more commonly known as exchanges) are marketplaces that act as intermediaries between investors and cryptos. They allow direct interaction with blockchains to obtain tokens and keep them on a wallet on the platform.
Among the main exchanges that sell AVAX, we find :
Most brokers that offer services in cryptocurrency also offer the purchase of AVAX.
Brokers are brokers, who usually offer many financial services ranging from stocks to rare metals like gold. With the rise of cryptos, many brokers have incorporated virtual currencies into their financial services portfolio.
There are many cryptocurrency brokers, some of which offer AVAX such as :