Avalanche (AVAX) is a blockchain platform that allows project developers to launch decentralized financial applications. This is one of the first Smart contract platforms with fast transaction processing speed. Avalanche officially launched mainnet on September 21, 2020.
The Avalanche blockchain platform will have 3 different chains : Exchange Chain (X-Chain), Contract Chain (C-Chain) and Platform Chain (P-Chain).
X-Chain acts as a decentralized exchange platform. Investors can make digital asset transactions on the X-chain and they have to pay a fee in AVAX.
The P-Chain is used to coordinate validators, monitor active Subnets on Avalanche, and allow project developers to create new Subnets.
C-Chain will implement an Avalanche virtual machine system (similar to the EVM virtual machine system) that allows developers to create smart contracts before using C-Chain's API programming interface.
Avalanche is compatible with the Solidity programming language because C-Chain implements the Avalanche virtual machine system similar to EVM. This helps developers build decentralized applications quickly and at low cost.
Fast Transaction Speed : Avalanche's X-Chain can handle more than 4,500 transactions per second. This speed helps Avalanche attract more users.
Project development team
The project was developed by Emin Gün Sirer, John Wu and more than 60 other employees with many years of experience in the field of blockchain technology such as Kevin Sekniqi, Gergely Lovas…
In addition, this project is mentored by Professors of Finance at the Johnson School of Management Maureen O'Hara and Adam Kravetz – CEO of ETF Market Making & Arbitrage.
Avalanche project development team.
In addition, the Avalanche team has worked with many famous companies, including Microsoft, Google, NASA...
Some of the companies where the Avalanche team has worked .
What is AVAX used for?
Avalanche (AVAX) is the native token of the Avalanche platform, it has the following roles:
Use as transaction fee : Users will use AVAX to pay for every transaction on Avalanche ecosystem.
Staking : AVAX holders can stake them on apps that support the AVAX Coin Staking feature.
Governance participation : AVAX owners have the right to be involved in the system administration process and they can contribute ideas to help developers build the Avalanche platform.
AVAX coin allocation.
How to Store and Own AVAX
Investors can buy AVAX on exchanges like Binance , OKEx, Coin Tiger, FTX, Huobi Global ...
In addition, investors can store AVAX in wallets such as Metamask , Trust Wallet , or exchange wallets...
Should you invest in the project?
Avalanche is one of the most interested ecosystem of investors in the cryptocurrency market. At the same time, it is also a blockchain platform that makes it easy for project developers to launch decentralized financial applications. Avalanche founded in September 2020, the platform has supported developers to build more than 225 projects. In addition, recently Avalanche has successfully raised US$230 million from large investment funds such as Polychain Capital, Three Arrows Capital. It can be seen that, after more than 1 year of operation, Avalanche has achieved certain successes. Therefore, investors can self-assess the potential of the project in the future to make the right investment decision for themselves.
Above is all information about Avalanche and AVAX coin. Since 2020, the project has grown by more than 1,500% but its development potential in the future is still very large. Especially in a time when the cryptocurrency market is growing and many individuals and organizations are in need of investing in the new ecosystem. Therefore Avalanche will probably be an option in their future.
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