Avalanche Is a platform dedicated to running DeFi applications and deploying enterprise blockchain networks in a scalable, unified ecosystem. Supports all the same development tools that Ethereum supports. Online transactions are confirmed in one second.
On September 22, 2020, the Avalanche (AVAX) cryptocurrency was added to the list of coins on the Binance exchange (site: binance.com) (trading in pairs AVAX / BUSD, AVAX / BTC, AVAX / BNB, AVAX / USDT is open). Avalanche mainnet blockchain network launched. Developers currently estimate the network bandwidth at 4500 transactions per second.
Avalanche is clearly created as a competitor to Ethereum, or rather the upcoming Ethereum 2.0 launch. Immediately after listing on the exchange, the rate of its token soared by 650% (from $ 0.85 to $ 5.55).
Avalanche mainnet is live! Whether you’re an enterprise, decentralized organization, developer, token user, or enthusiast, Avalanche has something for you. Learn more: https://t.co/BAZTRtOIP7
— Avalanche (@avalancheavax) September 22, 2020
The content of the article
AVAX / USTD price chart on Binance platform:
Name | Avalanche |
---|---|
Ticker | AVAX |
Blockchain | Avax Network |
Total emission | 720 000 000 AVAX |
Course on 09/22/20 | 5,89 $ |
Official site | https://ru.avalabs.org/ |
Information | https://info.avax.network/#about |
https://twitter.com/avalancheavax | |
Exchanges | Binance, BigONE, BKEX |
Avalanche (abbreviated as Ava), according to the developers, is the first smart contract platform to confirm transactions in less than a second and also supports the full suite of Ethereum tools. Key technological points:
As a result, Avalanche offers complete programmability at both the application and network levels. Developers can effectively and securely control personal data and manage their applications.
Ava provides two different consensus mechanisms at the moment:
In addition, Avalanche has virtual machines – this is special code that builds databases using consensus. A database can be any structure that needs to be synchronized across multiple computers, be it DAG, blockchain, etc. The logic of each virtual machine can be deployed multiple times on separate subnets. Each virtual machine instance is a blockchain. It has a ChainID and can only be assigned to one subnet. However, the blockchain can be deployed any number of times within a subnet.
Types of subnets:
The AVAX cryptocurrency is a native token of the Avalanche platform. The maximum emission will be 720 million, of which 360 million (50%) will remain in the mainnet. It is the basic unit of account in the Avalanche network. It provides access to a wide range of services and key security guarantees. In addition, it provides owners with control options.
The deficit is met by burning transaction fees. The speed at which the maximum limit is reached is adjustable.
The user can receive AVAX by staking. The reward received by a validator for a validation is proportional to that validator’s total stake. Also, the longer the tokens are locked, the greater the reward. Validators help the network to function properly, as they are responsible for verifying its functionality and the legality of payments.
The platform offers users its own wallet https://wallet.avax.network/. After following the link, click “Create a new wallet”, save and confirm the recovery phrase.
After that, you immediately get access to the wallet from where you can send and receive Avalanche tokens (AVAX).
For this purpose, you can use the Binance exchange, which was among the first to add the coin to its listing. Register or log into your account, go to the “Spot Wallet” section. Refill your account with the currency you are going to give away. Currently available pairs AVAX / BUSD, AVAX / BTC, AVAX / BNB and AVAX / USDT for spot trading.
Then find the Avalanche token (AVAX) in the list in the wallet, click the “Trade” button and select the appropriate pair from the available options. After switching to the trading terminal, it remains to create a token for the exchange operation and wait for its completion.
Pros:
Minuses
Avalanche looks like a good alternative for developers who want to build decentralized apps, but are put off by Ethereum’s slow performance. Recently, the ether network has been in a fever, commissions are too high, transactions take a long time. The blockchain is clearly unable to cope with the load. Against this background, the launch of Avalanche came in handy.
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