What Is AVAX(Avalanche)£¿
Avalanche is a blockchain platform with the native currency AVAX. Avalanche is a competitor to Ethereum that prioritizes scalability and transaction processing speed. AVAX is used to secure the Avalanche blockchain and pay transaction fees across the network.
lAvalanche is a blockchain platform with the native currency AVAX.
lAvalanche is a competitor to Ethereum that prioritizes scalability and transaction processing speed.
lAVAX is used to secure the Avalanche blockchain and pay transaction fees across the network.
lTransaction fees and the rate of AVAX coin creation are determined using a governance model.
What Makes Avalanche Unique?
Coin creation rate: The maximum supply of AVAX is capped at 720 million tokens, but AVAX users govern how fast new coins are minted. AVAX holders can control the rate of new coin creation by voting to adjust the amount of AVAX that is paid as a reward for adding a new block to the Avalanche blockchain.
Transaction fee structure: Transaction processing costs vary depending on the type of transaction and Avalanche's network congestion. All fees are burned¡ªremoved from circulation¡ªto enable AVAX become scarcer over time. Avalanche users vote to decide the Avalanche transaction fee, making AVAX fees subject to change.
Consensus mechanism: Transactions on the Avalanche blockchain are confirmed using a unique method that requires many small, random subsets of network participants to confirm transactions before the transactions are considered finalized.
Participation incentives: High uptime and fast response times can both boost the amount of AVAX rewards that a network participant can earn for processing AVAX transactions.
Pros vs. Cons
lFast transaction processing times
lReward structure incentivizes participation
lCapable of supporting many blockchain-based projects
lStiff competition from platforms like Ethereum
lAvalanche validators must stake 2,000 AVAX tokens
lMalicious or careless validators are never penalized by losing their AVAX
Avalanche vs. Ethereum
You may be wondering how Avalanche differs from Ethereum. Avalanche claims a faster transaction processing time¡ª4,500 transactions per second versus Ethereum's limit of 15.62 The parallel nature of Avalanche's consensus protocol is what enables the Avalanche network to validate transactions significantly faster than Ethereum.
While Ethereum currently operates at a much larger scale, supporting many more projects and transactions, Avalanche's superior ability to scale may give the Avalanche platform a long-term advantage over Ethereum. Avalanche can support a large number of transactions without requiring more time to process those transactions.
Where To Buy AVAX?
AVAX token is listed and supported by the world¡¯s leading exchanges such as Binance, Coinbase, FTX and Bitfinex.