Avalanche - Could it be the next Ethereum?

Avalanche (AVAX)

What is Avalanche?

Avalanche is a blockchain network that offers tools to build decentralized applications (dApps) that are interoperable with other blockchains like Ethereum. Avalanche is EVM-compatible as it is based off of a fork of Ethereum’s code. The benefits to this are that developers who have created dApps on Ethereum (the world’s most popular smart contract platform) can easily deploy the same or similar dApps on Avalanche. In addition, Avalanche’s network is faster and less expensive than Ethereum’s, but it is considered more centralized.

Why does Avalanche have value?

While Ethereum can only process up to 14 transactions per second (TPS) Avalanche can process over 4,500 TPS. This means that dApps built on it aren’t prone to congestion and high fees like Ethereum. Avalanche is just one of many Layer 1 blockchains that are competing with Ethereum; but Avalanche has recently seen a lot of developer activity and has popular applications including Trader Joe (decentralized trading), Crabada (gaming), and Pangolin Exchange (decentralized exchange).

What are the benefits of Avalanche?

●       Is a leader in interoperability with other blockchains.

●       Transactions are verified in less than a second.

●       Fast, secure, and inexpensive.

What are the disadvantages of Avalanche?

●       The stake amount to become a validator is 2,000 AVAX; which is really high. So it’s very expensive to participate as a validator.

●       A few whales (most likely early investors) hold a large portion of the circulating supply of tokens

Avalanche’s consensus:

Proof of Stake

What are AVAX’s tokenomics?

The maximum supply of AVAX is 720 million. 50% were mined in the genesis block, and the other 50% will gradually be released to users and stakers.

Who founded Avalanche?

Emin Gün Sirer, Kevin Sekniqi, and Maofan Yin.

Who are Avalanche’s investors?

Ava Labs has conducted 7 funding rounds, raising over $290 million. The main investors are CMS Holdings, Dragonfly Capital Partners, Polychain, Republic Crypto, Collab+Currency, Three Arrows Capital, Lvna Capital, GreenHornsCapital, Fundamental Labs, and Digital Asset Capital Management.

Concise Crypto Grade:

A

Where can I buy AVAX?

Binance, Coinbase Exchange, KuCoin, Huobi Global, FTX, Gate.io.

What ecosystem does Avalanche run on?

Avalanche