Avalanche News
What is Avalanche (AVAX)?
As the blockchain market continues to grow exponentially, Avalanche is building the ultimate infrastructure for decentralized applications (dApps) by addressing the trilemma: scalability, security, and decentralization.
AVAX is the native token of the Avalanche platform. It serves as the means to distribute system rewards, participate in governance and facilitate transactions on the network by paying fees.
Features that make Avalanche unique:
Coin creation rate: The total supply of AVAX will be 720 million tokens, but it is possible that the total number of coins in circulation can reach this cap much earlier before the project has had time to develop. The predetermined amount of AVAX paid for each new block adds an element of certainty to the expected value of future AVAX returns.
Transaction fee structure: Avalanche’s transaction fees are dynamic. This means that they change depending on the number of users and the amount of network congestion at the time of your transaction. The more users we have, the cheaper a transaction costs per user. AVAX is deflationary, which means that as we grow, so too do our transaction fees.
Consensus mechanism: The Avalanche network gets its name from this confirmation method. Each transaction on the Avalanche blockchain is confirmed by a number of randomly selected peers, called witnesses or nodes. This random selection is done in such a way that ensures that each new witness will have to validate small sets of already-confirmed transactions before they are assigned to confirm any new ones. The overall effect is that the network resembles an avalanche, with snow sliding and organizing into piles as it falls.
Participation incentives: High uptime and fast response times are also two of the defining characteristics of Avalanche.
Avalanche vs. Ethereum
While there are several differences between Avalanche and Ethereum most notable is their scalability. Avalanche can process around 4,500 transactions per second (TPS) while Ethereum can only do around 30.
How do I add Avalanche to Metamask?
The guide by Ava Labs will take you through the process of acquiring AVAX via MetaMask, a popular digital currency wallet. If you don’t already have one, the process of signing up for an account with MetaMask is simple and fast. The first thing you’ll need to do is install the extension by going to https://metamask.io/ and clicking on the blue “Add to Chrome” button. You’ll then be able to use the extension on your browser exactly as if it were a plugin or a native part of Chrome.
Is the Avalanche Blockchain Safe?
That’s not to say the network is entirely safe from hackers. With smart contracts, in particular, you still need a basic understanding of software security. But Avalanche is entirely focused on making them more accessible and secure than ever before.
To that end, the platform’s unique consensus mechanism ensures that transactions are fast and verified by a large number of mining nodes. Its smart contract language is specifically for eliminating the vulnerabilities that have led to some of Ethereum’s worst hacks.
Does Avalanche crypto have a future?
Avalanche cryptocurrency is an interesting project with the potential to become one of the most used cryptocurrencies in the future. Currently, Avalanche has some minor drawbacks, but they are working hard to fix them.
We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Elk Finance (ELK) has integrated IoTeX (IOTX), a blockchain created to interface with real world digital devices, to its class-leading multichain ecosystem. IoTeX was founded as an...
Starpunk is thrilled to announce the next SPO project will be Ftribe Fighters – One of the first 3D MOBA NFT Games. Ftribe Fighters will conduct its Public Sale via the SPO event on...
Allbridge are partnering up with Poof.cash to launch a new bridge from Celo to Avalanche!
Poof.cash is a protocol for decentralized, private transactions on Celo. With the help of their...
OrcaDAO is thrilled to announce the newest strategic partnership to its ecosystem with Snowball. This collaboration will see to a new use case for both projects, a clear win-win for both...
The Lydian’s Pool went live with an update As they mentioned on the previous blog post update users who deposited their LYDs into this pool will have the right to participate in Lydia’s...
These past few weeks have been very exciting for Penguin Finance users, By reviving the Penguin Launchpad and distributing Avalanche Rush AVAX incentives through the Igloos, PEFI has...
BitGo, the leader in digital asset financial services, now supports the Avalanche native token (AVAX) and assets launched natively on Avalanche’s C-Chain across its custody and hot wallet...
Gnosis Safe, a multi-signature smart contract wallet, now supports Avalanche, enabling users to increase security practices by requiring a minimum number of people to approve a transaction...
HurricaneSwap V1 was launched in October 2021 as an AMM on Avalanche C-Chain.
In HurricaneSwap V2, they will officially launch the core feature — Cross-Chain Liquidity DEX. In addition,...
Native USDC on Avalanche will empower more developers and users to build and access the Avalanche ecosystem.
Circle, a global internet finance firm that provides internet-based payments and...
Trader Joe is joining Moralis and Avalanche as a formal partner to the Moralis Avalanche Hackathon!
Trader Joe — Official Partner to the Moralis Avalanche Hackathon
Trader Joe is...
The HurricaneSwap V2 will be officially launched at 08:00 AM, Dec 15th (UTC). They do appreciate your support and have prepared up to 2,000,000 HCT as the reward to launch the Hurricane...
Vee.Finance is excited they are now available on mobile. Users can now use the full features of the Vee.Finance through their mobile phones via the MetaMask app.
They believe the mobile...
Lydia Finance announce their upcoming features and improvements that they are working on for a while.
Now Lydians will be able to use their LYD tokens for voting and would be able to help...
Cook Finance will use Yield Yak to optimize the returns of the Yield Bearing Stablecoin Index as well as the YAK token’s inclusion in the new Avalanche Ecosystem Index.
What is Cook...
Snowball is joining forces with Moralis and Avalanche, and is contributing as an official partner to the Moralis Avalanche Hackathon!
Snowball is now officially announcing that it is a...
Enterprise interest in Ava Labs and Avalanche rapidly increasing after year of exponential growth.
Ava Labs Selected for Mastercard Start Path Crypto Program. a startup engagement program...
FTX is now accepting inbound transfers of AVAX, the native token of the Avalanche public blockchain (AVAX), increasing the accessibility of Avalanche to a broader set of users. The markets...