What is Avalanche?
Avalanche is an open source platform for deploying decentralized applications and enterprise blockchains in a highly scalable, interoperable ecosystem.
Avalanche is the first global-scaled and decentralized smart contract platform, with near-instant transaction consensus.
Avalanche’s consensus mechanism
The biggest difference between Avalanche and other decentralized networks is the consensus protocol. The approach of the Avalanche protocol allows for fast, high-security consensus reaching without compromising decentralization.
Avalanche currently has 2 consensus mechanisms:
- Avalanche consensus mechanism: a DAG-optimized consensus protocol, high throughput, parallel processing possible
- Snowman consensus mechanism: a chain-optimized consensus protocol, high throughput, optimal for smart contracts
Main Features of Avalanche
- Speed: Avalanche’s consensus mechanism allows transaction confirmation in less than 1 second.
- Scalability: processing up to 4,500 transactions per second.
- Security: ensure safety, far beyond the 51% standard of other networks.
- Flexibility: easy to create blockchain and decentralized applications
- Sustainability: using a proof-of-stake consensus mechanism is more energy efficient than proof-of-work.
- Smart contract support: support creating Solidity smart contracts and Ethereum tools like Remix, Metamask, Truffle, etc.
- Private and public blockchain: allows creation of permissioned and permissionless blockchain.
- Designed for financial services: can support the creation and trading of smart digital assets with many complex terms.
AVAX Token
AVAX is Avalanche’s native utility token, used in the following scenarios:
- Transfer value peer-to-peer
- Pay transaction fees, operations and storage fees
- Be staked for the platform security
- Create new blockchain and subnetwork
Specifications
- Ticker: AVAX
- Total supply: 391,128,419
- Maximum supply: 720,000,000
- Circulating supply: 220,286,577.21 AVAX (31%)
Token Allocation
- Staking Reward: 50%.
- Team: 10%.
- Public Sale: 10%.
- Foundation: 9.26%.
- Community & Developer Endowment: 7%.
- Strategic Partners: 5%.
- Private Sale: 3.46%.
- Seed sale: 2.5%.
- Airdrop: 2.5%.
AVAX token Price today
How to buy AVAX
Avalanche (AVAX) has been listed on Attlas Exchange.
Traders can easily and securely buy AVAX with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find AVAX
Step 5: Select Buy
Summary
This article is an overview of Avalanche (AVAX), not a financial advise.
Users are advised to do their own research before making any trading decisions.