What is Avalanche and why do we use it? 🅰️🏔️
But, do you know why we chose this blockchain over other options? Simple. We believe in this new network because It has new advantages to make easier the Dapps development.
What is Avalanche? 🅰️
Avalanche (AVAX) is an enormous blockchain network that offers higher speed, lower prices, and more environmental friendliness.
The objective of Avalanche is to develop a flexible and scalable blockchain that maintains decentralization and security.
Avalanche was developed by Ava Labs. This new platform was launched in September 2020, just two months after raising $42 million in a token sale — which sold out in less than five hours.
Why Avalanche is different?🧐
Avalanche was designed to address some of the limitations of older blockchain platforms, including slow transaction speeds, centralization, and scalability.
For that reason, Avalanche has included a consensus protocol, which promises low latency, high throughput capabilities, and resistance to 51% attacks.
Currently, Avalanche is built around a system of three interoperable blockchains: the Exchange Chain (X-Chain), Contract Chain (C-Chain), and Platform Chain (P-Chain).
The developers can create new digital assets with the X-Chain, whereas the C-Chain is Avalanche’s Ethereum Virtual Machine (EVM) implementation, and the P-Chain is used for coordinating validators and creating subnets.
Avalanche can handle somewhere in the order of 4,500 transactions per second — compared to around 7 tx/sec for Bitcoin and 14 tx/sec for Ethereum. This allows achieving transactions finality in under 3 seconds.
Also, Avalanche enables blockchains both within a subnet and between subnets to communicate with one another, allowing them to complement one another and support cross-chain value transfers. A good point for interoperability!
Another important feature of Avalanche is that allows anybody staking at least 2,000 AVAX to participate in its proof of stake, instead of the select number of validators of the other blockchains.
What can you do with Avalanche?👩🏻💻👨🏽💻
Avalanche allows developers to deploy their own purpose-built blockchains, whether these be for private use-cases (permissioned blockchains) or public ones (permissionless).
Avalanche mixes the multiple multiple custom-built blockchains with a powerful proof of stake consensus mechanism to achieve a very powerful platform to build any dapp.
A great plus for this blockchain is with compatibility with the Ethereum toolkit. That means that developers are able to easily port their Ethereum dApps to Avalanche and can easily launch a diverse array of decentralized applications (dApps) on the platform.
How can you use Avalanche? ⌨️⚙️
To use all Avalanche features, It’s necessary having AVAX or the Avalanche token.
The AVAX is available to purchase and trade on a wide variety of exchange platforms, including Binance, OKEx, Bitfinex, Huobi Global, CoinEx, Paribu, WazirX, OKCoin, and Hotbit.
This token has been used to swap for our #CASH tokens, the native toke of our protocol Avacash.Finance.
If you want to start to use your AVAX in Avacash.Finance, you can try here.