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).
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Pangolin is fascinated to announce a partnership with Iron Finance. Iron Finance is a multi-chain, decentralized, non-custodial ecosystem of DeFi products, protocols, and use cases. The...
02.10.2021
BENQI is thrilled to announce its native integration into the Rome Terminal. The Rome Terminal is a multi-network, multi-dApp trading terminal launching on Avalanche in October 4 as the...
01.10.2021
Pangolin is thrilled to announce a partnership with Reflexer Finance. Reflexer Labs is a distributed team building open-source software and on-chain autonomous controllers for the...
01.10.2021
Today, Avalanche (AVAX) is available on Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store AVAX in most Coinbase-supported...
01.10.2021
The largest native DEX on Avalanche joins the program, ‘Joe Rush’ is here! Trader Joe has officially joined the Avalanche Rush Program, with a combined total of up to $20M in...
30.09.2021
Penguin Finance is thrilled to announce that Verso Finance — a decentralized marketplace for financial products and DeFi mass adoption via regulated e-wallets — will be the first project...
30.09.2021
Coinbase Pro will begin accepting inbound transfers of the Avalanche Token (AVAX), increasing the accessibility of the Avalanche public blockchain to a broader set of users, including those...
30.09.2021
Pangolin is thrilled to announce its partnership with Everest DAO, a cutting-edge DeFi suite making waves in crypto derivatives with its new Options product. Everest’s options protocol...
29.09.2021
Trader Joe would like to formally announce a continued collaboration with their partners, Relay and ChartEx. To deepen their ties, they have launched new farms on the platform which will...
29.09.2021
Allbridge are excited to announce further integrations to the KRW token, As they will be bridging it to Avalanche and Celo chains. KRW is a token of their partners from KingDeFi — the...
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