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Avalanche Price (AVAX)

₹ 4438.3100000000 4.80 %

Low : ₹ 4005.9000 High : ₹ 4229.5100

Market Cap

₹1.57 T

2.8203 %

All Time High : ₹10772.3500

All Time Low : ₹204.6300

Volume

₹44.91 B

Circulating Supply 377888000
Max Supply 720000000

Avalavche (AVAX) Price Live Chart

Avalanche (AVAX)

Avalanche blockchain is designed to achieve a balance between decentralization, security, and scalability, which is a remarkable feat. It's composed of three blockchain networks: the Exchange chain (X-Chain), the Contract chain (C-Chain), and the Platform Chain (P-Chain). By distributing tasks across these networks, Avalanche is able to maintain agility while achieving the aforementioned balance. 


Avalanche's proof-of-stake consensus process is incredibly fast, operating at a rate of over 4500 TPS. The safety threshold is also relatively high at 80%, which is much higher than Bitcoin and Ethereum's 51%. This makes Avalanche much more secure than many other blockchains. 


Avalanche uses a sophisticated mix of multi-chain topologies and consensus methods, which further sets it apart from other blockchains. With its fast transaction times, high scalability, and enhanced security, Avalanche is quickly becoming a major player in the blockchain industry.


Founder

Emin Gün Sirer is the founder of Ava Labs and Avalanche Blockchain. He is a Turkish-American computer science professor at Cornell University and a well-known figure in the blockchain industry. Sirer has been involved in several notable blockchain projects and has published numerous research papers on blockchain technology. 


Sirer is particularly interested in the security and scalability of blockchain networks. He has developed several protocols to address these issues and is considered an expert. 


In addition to his work on blockchain technology, Sirer also advocates for the responsible use of blockchain. He has spoken out against ICO scams and other fraudulent activities in the blockchain industry. He has also criticized the energy consumption of some blockchain networks and has called for more environmentally friendly solutions. 


Native Token 

AVAX is a utility token that is used to share system incentives, participate in governance, and facilitate network transactions by paying fees. AVAX is the main utility token utilized by projects and smart contracts in the Avalanche ecosystem, and it is used to fuel transactions. With its rapid transaction times, great scalability, and better security, Avalanche Blockchain is emerging as a prominent participant in the blockchain market.


  • Fast and Scalable: Avalanche is designed to be fast and scalable, with the ability to process thousands of transactions per second. This makes it ideal for applications that require high throughput and low latency.


  • Customizable: Avalanche is highly customizable, with the ability to create custom subnets and blockchains. This allows developers to build applications that are tailored to their specific needs.


  • Interoperable: Avalanche is interoperable with other blockchains, allowing assets to be transferred between different networks. This makes it easier to move assets between different ecosystems and enables cross-chain applications.


  • Secure: Avalanche uses a unique consensus mechanism called Avalanche consensus, which is designed to be highly secure and resistant to attacks. This makes it ideal for applications that require a high level of security.


  • Staking: AVAX is used for staking, which allows users to earn rewards for securing the network. Stakers are required to hold a certain amount of AVAX in order to participate in the network and earn rewards.


  • Governance: AVAX is used for governance, allowing users to vote on proposals and make decisions about the future of the network.


How Is the Avalanche Network Secured?

AVAX is exchanged on the Exchange Chain, which uses its own Avalanche consensus algorithm. The Avalanche consensus mechanism, unlike proof-of-work or proof-of-stake, does not have a single leader processing transactions that are validated by others. Instead, all nodes use a directed acyclic graph (DAG) protocol to conduct and validate transactions. 


Transactions are performed concurrently, and the random polling of validators assures that transactions are correct with statistical confidence. This consensus process has no blocks, allowing for rapid finalisation and considerably increasing the speed of the blockchain.


Developments

The Avalanche network's creator, Ava Labs, has created AvaGPT, an AI-powered chatbot on its platform. AvaGPT, developed in conjunction with Kapa AI, is included in the Ava Labs Core platform and seeks to deliver quick responses to general Avalanche queries. 


It is only trained on Avalanche documentation, but users can still seek help from the support team. In the future, Ava Labs intends to add more Avalanche-specific functionality. The company recognises the potential inaccuracy of AI-generated responses and emphasizes that AvaGPT is purely for informational purposes. Ava Labs' dedication to improving user access and assistance inside the Avalanche ecosystem is demonstrated through the use of AI technologies such as ChatGPT.

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Avalanche news

22 hours 16 minutes 28 seconds ago

Avalanche Foundation Set to Buy a Collection of Meme Coins

The Avalanche Foundation, the non-profit organization behind the development of the Avalanche (AVAX) network, will acquire a collection of meme coins using its $100 million NFT incubator fund to encourage the “culture and fun” fostered by meme-driven tokens.

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