Avalanche (AVAX) explained in 6 steps

Avalanche is a network formed to provide a secure, practical, and scalable structure for cryptocurrency transactionplatforms and services with decentralized financial assets and financial applications. The name of its official token is Avalanche and its ticker is AVAX.

1) When and by whom was it founded?

  • Avalanche Network was developed by Ava Labs under the leadership of Emin Gün Sirer. It was launched in September 2020.

2) The Infrastructure of Avalanche

  • Avalanche enables the permissioned (private) and permissionless (public) blockchains to interoperate on a single network. On Avalanche, needed solutions based on preferences can be developed on sub-networks. Unlike classical blockchain solutions, Avalanche does not proceed as blocks on a single chain. All components are designed as a sub-network.
  • The consensus structure of Avalanche consists of four phases, namely Slash-Snowflake-Snowball-Avalanche. The decisions are taken by proceeding in rounds until a consensus is achieved, and it is frequently mentioned by the developer team that Avalanche is secure against 51% attacks thanks to this structure.
  • As a governance token, AVAX is the value staked by the nodes who would like to take part in the confirmation mechanism of the system. Awarding and paying mechanisms are handled through AVAX on Avalanche networks.

3) What does Avalanche promise to the users?

  • Avalanche network aims to offer a fast structure that does not require mining just like conventional finance, that is as robust as Bitcoin and that offers a higher scalability feature that Proof of Work consensus algorithms cannot provide.

4) Is Avalanche mined?

  • Avalanche is not mined.

5) The lowest and highest price with the total supply

  • Until January 2021, the lowest price of Avalanche was $2.81 on September 9, 2020. The highest price was recorded at $11.46 on September 22, 2020.
  • With a total supply of 360,000,000 AVAX, the circulating supply is 76,937,055 AVAX.

6) How to make Avalanche transactions on Paribu?

  • You can click on the link and make your AVAX transactions right away via Paribu.


Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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