E&S Token Review: Avalanche (AVAX)

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Hello PUBLISH0X community and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible

With this article we are going to introduce the 25th cryptocurrency of this section with the 52nd “E&S” article.

Today we will talk about: Avalanche (AVAX)!

In the last token review, I talked about Terra. If you missed my last crypto analysis, you can recover it below.

Terra (LUNA) Review: https://www.publish0x.com/easyshort-cryptocurrencies-made-accessible/e-and-s-luna-attractive-to-hold-and-easy-to-spend-xdgxlqw

One of the most interesting projects, to have recently peeped into the complex world of cryptography and blockchain, is Avalanche. It is a complex ecosystem, closely linked to an internal token, i.e. a cryptographic tool in all respects, which takes the name of AVAX.

Contrary to many other projects, born especially in recent times and based on a few services, Avalanche aims to make available several functionalities, focused on blockchain technologies and last generation structures. All of this closely related to the decentralized finance sector (DeFi).

Avalanche is a layer one blockchain, which can be used as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's competitors and aims to replace Ethereum as the most popular smart contract blockchain. Its goal is to achieve this goal with a higher transaction output of up to 6,500 transactions per second without compromising scalability. Avalanche's unique architecture makes this possible.

Avalanche network consists of three independent blockchains: X chain, C chain and P chain. Each chain has a unique purpose, which is completely different from the methods used by Bitcoin and Ethereum, which is to have all nodes verify all transactions. Avalanche blockchain even uses different consensus mechanisms according to its use cases. After launching the mainnet in 2020, Avalanche has been committed to developing its own DApp and DeFi ecosystem. Different Ethereum-based projects, such as SushiSwap and TrueUSD, have been integrated with Avalanche.

Behind a great project there is always a great development team. Although the interest behind AVAX exploded mainly during the 2020, the initial project, on which the entire Avalanche ecosystem rests today, is much older. The foundation of the project is now led by three industry professionals, with numerous experiences and skills, also learned in other projects outside of Avalanche. They are Kevin Sekniqi (COO), Emin Gun Sirer (CEO) and John Wu (PRESIDENT).

They have all tried to study new systems to be able to improve the criticalities shown by Bitcoin nowadays, one of them being the low level of scalability. Starting from a small team, over the years it has reached important numbers, arriving today to count many professionals working for the parent company, Ava Labs.

What is Avalanche?

Avalanche represents a revolutionary project based on its own blockchain technology. It's a different matter to talk about AVAX, which represents only the token associated to the ecosystem, which will be discussed in more detail in due time. Going back to Avalanche, the underlying project aims to bring new visions to the world of decentralized finance, improving some aspects that, according to many experts, are contributing to slow down the DeFi development. The Avalanche platform possesses certain characteristics, some of which are common to other ecosystems, while others are completely different and innovative. Starting from the first ones, it's worth mentioning the value of being an entirely open source project, in other words, open to all developers interested in the features made available.

Additional features are:

  • Wide interoperability: aspect that sees the structuring of a stable ecosystem and at the same time fast in communications and information exchange.
  • Highly scalable and capable of accepting larger orders than traditional networks.
  • Speed in transactions: entering the official page, the organization exposes the ability to be able to confirm transactions in less than 60 seconds.

All this allows the ecosystem to be able to be active and used for different functionalities, also supporting ETH development toolkits, launch of applications related to decentralized finance, blockchain structuring by companies or small private developers and much more.

After a little introduction about what Avalanche is and some features, I invite you to follow me so you don't miss the second part of the article that will be released next Sunday.

We'll go more specifically into new features of this project!

Regulation and Society adoption

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