Avalanche (AVAX) - Coin of the Week

Avalanche (AVAX) - Coin of the Week

Avalanche (AVAX) is a Blockchain platform based on smart contracts. It is designed mainly for the crypto market, smart financial transactions and other similar low-cost operations. Avalanche (AVAX) has development potential in the field of decentralized finance (DeFi) and the space of digital art (Non Fungible Tokens).

The history of Avalanche (AVAX)

The Avalanche (AVAX) cryptocurrency was launched in 2020 by the Ava Labs team and quickly rose to the top of the most popular cryptocurrencies in the crypto market. The Avalanche platform and cryptocurrency were created to solve several issues found in most Blockchain networks. The objective proposed by the Avalanche project is to develop the features generally associated with Ethereum.

How does Avalanche (AVAX) work?

The designers of Avalanche (AVAX) stated that efficiency and sustainability are the basis of their project. The cryptocurrency uses a unique proof-of-stake (PoS) protocol that allows a superior transaction speed when compared to other Blockchain technologies. Unlike Ethereum, which resolves transactions in approximately 6 minutes, Avalanche aims to complete transfers in a few seconds.

Avalanche combines three separate blockchain networks to achieve superior scalability and functionality. The protocol works as a frictionless payment and cryptocurrency ecosystem. The 3 blockchains, chain X, chain C, and P, have different roles in the network. Together, they provide Avalanche developers with the possibility to create more complex dApps.

The Avalanche network periodically removes a percentage of crypto units from circulation - this process is known as "burning" and aims to maintain the integrity of the Blockchain in the long term. This process can have an impact on the price of Avalanche by decreasing the supply, thus creating increased demand through long-term sustainability.

Avalanche technology use-cases

  • The development of decentralized applications (dApps), with low costs
  • The launch of personalized, private, and public blockchains
  • Easy integration in the financial area - actively contributes to the development of applications in the field of financial services

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One of the core components of the Avalanche cryptocurrency is the ability to build subnets. A subnet can be a single Blockchain or a group of Blockchains that are validated together. The strategy is implemented to create a more efficient and decentralized general network. Subnets are unique because they never run out. When a limit is reached, the network creates additional subnets. In this system, those who use AVAX in the staking process play an important role in verifying and supporting the main network.

Advantages of Avalanche (AVAX)

The advantages of the Avalanche cryptocurrency are mainly due to its development characteristics. The founders of the project have developed a way to overcome common problems in a crypto project with a unique blockchain model.

  • Interoperability
  • Scalability
  • Applicability
  • Sustainability

For more information about AVAX, visit Avalanche (AVAX) Price page.

Avalanche (AVAX) in 2023

Avalanche has partnered with Amazon Web Services (AWS) to bring greater institutional adoption to the crypto market. AWS will offer AVAX's decentralized application services to its entire market.

The partnership could be a key step for more people to be exposed to blockchain technology, as Amazon is present in over 100 countries. In addition, the Avalanche blockchain is also a member of the Amazon Partner Network and will help customers implement customized offerings on AWS, connected to over 100,000 partners.

In the long term, Avalanche aims at creating a safe and efficient platform for the development of the DeFi ecosystem. At the same time, it is a Blockchain project that wants to integrate the traditional financial sector into the new digital ecosystem. Avalanche represents another important step towards the total decentralization of the financial system.

Avalanche Financial Indicators (AVAX)

Market Cap: 4.8 billion EURO

Avalanche price today: 15 EURO

Avalanche trading volume (24 hours): 350 million EURO

Avalanche Community


Latest Avalanche (AVAX) news

  • Avalanche has partnered with Amazon to bring greater institutional adoption to the crypto market.
  • Avalanche has officially confirmed that it will support the USP stablecoin developed by Platypus DeFi. The DeFi company previously confirmed that the stablecoin will be in the Avalanche main fund, which will play an important role in the stability of USP. In addition, the Avalanche guarantee mechanism is prepared to use other stablecoins as well.

How to Buy Avalanche (AVAX)

On Tradesilvania you can buy and sell Avalanche or other types of cryptocurrencies, such as Ethereum (ETH) and Solana (SOL). Add your AVAX tokes in our Savings Service and earn a passive income.