Avalanche
What is Avalanche?
The first mention of Avalanche was on May 16, 2018. Also, in 2018, Emin Gün Sirer, along with Kevin Sekniqi and Maofan Yin, created Ava Labs, the main developer of Avalanche. Already in 2020, this company was able to raise $12 million through a private token sale and another $42 million through a public token sale. The start of the Avalanche network took place on September 21, 2020.
Basic principle of the Avalanche protocol. On the Avalanche Hub platform blog, a person under the nickname Seq talks about the process of confirming or suppressing transfers in the Avalanche network. He shows this by using the example of the network nodes collectively choosing one of two colors (yellow or blue).
First, the nodes choose one of the colors, and then they poll each other. In the case when the choice of a node does not coincide with the position of most other nodes, it changes its decision. The node makes a choice in favor of yellow and sends requests to five nodes (which are chosen randomly), in the figure below such nodes with red rings. Most of these five nodes are blue, which means that the node that sent the request changes its color to blue.
This process of sending requests by nodes happens step by step, and it lasts until all nodes are the same color. Also, the time for receiving answers is limited. Thanks to this approach, it is possible to identify and separate those nodes due to which delays occur. The algorithm makes the selection of nodes randomly, but it is worth noting here that the chance to participate in the verification of transfers increases along with the increase in the number of Avalanche coins that are in staking.
Avalanche (AVAX) is a platform token with a supply of 720 million. The protocol removes all transfer fees, making Avalanche a deflationary asset. At the same time, the systеm has a high speed of operation. The maximum systеm throughput is up to 4500 transactions per 1 second.
Avalanche mining
The Avalanche cryptocurrency does not have the possibility of standard Proof of Work mining.
How do I get Avalanche?
If you decide to buy Avalanche, then you need to choose a reliable service for this. It can be a crypto exchange like Leoexchanger or, for example, the crypto exchange WhiteBit.
What can you do with Avalanche?
Token can be used:
- for staking with an approximate estimated return of 11% per annum;
- to pay commissions;
- to perform various calculations on Avalanche networks and subnets;
- We should also note the possibility of trading. Avalanche is a volatile cryptocurrency, which opens up great opportunities for trading;
- This cryptocurrency can be rented at interest.
Avalanche price dynamics (USD)
As of August 2022, 1 Avalanche costs approximately $22.97. The total market capitalization is $6,547,157,405.
The price movement chart is shown below:
How to store Avalanche?
To store Avalanche, it is best to use a branded wallet of this cryptocurrency. This is a web wallet, it is open source and non-custodial. In this wallet, you can safely store, exchange, receive, send Avalanche, take part in its staking.
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