Avalanche is a platform the main purpose of which is to run DeFi applications and deploy enterprise blockchain networks in a scalable, unified ecosystem. This network uses the same development tools as Ethereum. Online transactions are confirmed in one second. You can monitor the avalanche crypto price on indusCrypto.
On September 22, 2020, the Avalanche cryptocurrency (AVAX) was added to the list of coins on the Binance exchange (trading in pairs AVAX / BUSD, AVAX / BTC, AVAX / BNB, AVAX / USDT is open). The Avalanche mainnet blockchain network was launched. Developers currently estimate the network bandwidth at 4500 transactions per second.
AVAX is used for P2P transfers, for creating smart contracts, placing bets and securing the network. Payment for operations, computation and storage, as well as for the creation of new blockchains and subnets.
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. In order to separate subnets, the logic of each virtual machine can be replicated on different instances. Each instance of a virtual machine is a blockchain. Only one ChainID can be assigned to the subnet.
Types of subnets:
Platform Chain is a chain for metadata that allows you to manage existing and create new sub-networks. Exchange Chain is the main blockchain for working with assets. Allows you to make cross-chain transactions between subnets, exchange assets and create new ones. Contract Chain is the level of smart contracts. Allows the development of smart contracts for any purpose, compatible with Ethereum. “The Snowman” consensus protocol is used. The project is focused on maximum openness for users. Lightweight architecture does not require expensive hardware. Application segmentation support allows developers to deploy applications that fully meet their needs.
The AVAX cryptocurrency is a native token of the Avalanche platform. The maximum supply of the coin is 720 million and half of it will remain in the mainnet. It is the basic unit of account in the Avalanche network so it keeps avalanche token price less volatile. It also opens up management options for owners.
The user can receive AVAX by staking. The reward a validator receives for a validation is proportional to that validator's total stake, which is used for increasing AVAX token price. In addition, 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.
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