What Is Avalanche (AVAX)?
Avalanche (AVAX) is a decentralized platform that enables the creation of custom blockchain networks and decentralized applications (dapps). It serves as the native cryptocurrency of the Avalanche network and plays a crucial role in facilitating transactions, securing the network, and incentivizing participants. Built to offer high throughput, low latency, and interoperability, Avalanche aims to address the scalability and performance limitations of existing blockchain platforms.
Who Are the Founders of Avalanche?
Avalanche was founded by a team of experienced developers and researchers, including Emin Gün Sirer, Kevin Sekniqi, and Maofan "Ted" Yin. Emin Gün Sirer, a renowned computer scientist and professor at Cornell University, is widely recognized for his contributions to the field of distributed systems and blockchain technology. Kevin Sekniqi and Maofan "Ted" Yin also bring extensive expertise in computer science and distributed systems to the project. Together, they form the core team behind Avalanche's innovative consensus protocol and ecosystem development efforts.
What Makes Avalanche Unique?
Avalanche distinguishes itself from other blockchain platforms through its novel consensus mechanism, Avalanche Consensus, which enables rapid transaction finality and scalability without sacrificing security. Unlike traditional proof-of-work (PoW) or proof-of-stake (PoS) protocols, Avalanche Consensus leverages a probabilistic voting-based system to achieve consensus among network participants. This approach allows Avalanche to process thousands of transactions per second with sub-second finality, making it ideal for applications requiring high throughput and low latency.
How Many Avalanche (AVAX) Coins Are There in Circulation?
The total token supply of Avalanche (AVAX) is capped at 720 million tokens. Upon the network's launch, 360 million tokens were initially issued, with the remaining tokens scheduled to be released gradually over time through various mechanisms, including network validators' rewards and ecosystem development initiatives. The finite token supply aims to ensure scarcity and value preservation while incentivizing network participation and ecosystem growth.
How Is the Avalanche Network Secured?
The Avalanche network is secured through a combination of cryptographic techniques, economic incentives, and decentralized governance mechanisms. Avalanche Consensus, the network's underlying consensus protocol, relies on a decentralized network of validators who participate in transaction validation and block production. Validators are required to stake AVAX tokens as collateral, incentivizing them to act honestly and maintain the network's integrity. Additionally, Avalanche employs robust cryptographic primitives, such as digital signatures and hash functions, to safeguard user assets and prevent unauthorized access or tampering.
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