As the reputation of the cryptocurrency market grows, new coins or networks appear every day. What is Avalanche (AVAX), which includes many blockchains as a subnet, enables the generation of cryptocurrencies and leaves question marks in most people’s minds? For what purpose is it used? Here are the details…
What is the stop limit in cryptocurrencies and how is it done?
We explained what is the stop limit, which is frequently called in crypto money and stock investments, and how to do it, with an example.
What is Avalanche (AVAX)?
Avalanche, decentralized has a system. In addition, it is a network that aims to provide a secure and practical structure for financial assets, cryptocurrency trading platforms and other crypto money services. Cornell University Professor Emin Gün Sirer, CEO of Ava LabsSeptember 2020founded in. Official coin name Avalanche though the symbol AVAX takes its name.
Avalanche, requiring permission special and permissionless general aggregates blockchains into a single network. Unlike other networks, it combines other elements as subnets instead of running on a single chain. The network, which has a consensus structure, Slash, Snowflake, Snowball and Avalanche consists of four stages.
For what purpose is it used?
Avalanche does not offer the possibility of mining and leaves no need for it. Instead, users the possibility of generating digital assets and cryptocurrencies while also presentingConfirmatory“It gives you a chance to be. If users wish, they can delegate their AVAX balances to validators and thus earn additional income.
To be a validator, it is necessary to run a node. In addition, it is necessary to lock 2000 AVAX’s for a period of 15 days to 1 year. Verifiers who verify and confirm transactions on the network are rewarded with AVAX.
Total supply of AVAX 750 millionis limited to at most half available on the main chain. Payments are made with AVAX when producing digital assets and cryptocurrencies. We can say that the biggest advantage of this network is that the transfers can be made quickly and instantly, and it demands low fees for this.
In short, Avalanche, without the need to create a new blockchain and mining, 51 percent in proportion safer It provides a digital asset and cryptocurrency creation platform. However, it is possible to create a private and public blockchain within the platform chain.
What do you guys think about Avalanche (AVAX) network? Have you ever used this network? Do not forget to share your ideas and opinions with us in the comments.