Avalanche is a new blockchain that has been getting a lot of attention for the past few months and is now about 60 percent under its all-time high. This coin has managed to build an incredible ecosystem, especially if you begin to consider how short it has been on the market. This coin is worth paying attention to.
Avalanche is a new innovative contract platform competing for market share with all the likes of Ethereum, Polkadot, Cardano, and the sorts. Avalanche is one of the few cryptocurrencies launched in 2020 and was able to shoot up into the top ranking coins, and this is a big move for a newly launched coin.
The main net for Avalanche went live in September, and it was created by Emin Gün Sirer, who specializes in teaching computer science regarding Distributed Ledger Technology at Cornell University. Half of the team working on Avalanche are Cornell University Alumni.
He is not only a professor but also a renowned expert on blockchain technology and distributed currency.
Avalanche is a blockchain that uses a graft structure. It has been optimized to run nodes on the CPU and has a transaction finality of about 3 seconds.
Avalanche consensus protocol was designed to be immune to any type of fifty-one percent attack, which networks of its kind usually suffer from. Avalanche also has a very high level of security embedded in it.
In total, there are already a thousand tokenized assets in Avalanche, and Avalanche has only been operational for less than a year.
It has a lot of partnerships with cryptocurrency companies such as BitPanda, Injective Protocol, Sushi Swap, etc
The Avalanche Token, called the AVAX token, has a supply of about 720 million AVAX and half of it is currently locked in the network for staking so that they will be giving out staking rewards over time.
The protocol also includes a burning mechanism that burns all the fees collected using the avalanche platform. The AVAX token has a staking ratio of about 84 percent of the entire network, of which about 3 million tokens are currently being staked for 11 percent per APR. Additionally, all the AVAX have a two-week lock-up period, and now, it is planning on introducing a privacy sub-network for future updates that will be coming into the protocol.
Avalanche is an exciting blockchain network that looks like it has a lot of potentials, especially if you look at the amount of progress it has made since it was launched.
