WHAT IS AVALANCHE (AVAX)? AVALANCHE ECOSYSTEM OVERVIEW (AVAX)

WHAT IS AVALANCHE (AVAX)?

Avalanche sees the piecemeal nature of the crypto market across the world as a big hurdle. Currently, different countries work on different financial systems and regulations. Smooth trading of digital assets can be problematic.

Avalanche aims to solve this. It’s aiming to create a unified global financial market, where users of the platform will be able to trade digital currency in a frictionless way.

The project uses the proof-of-stake consensus algorithm. This not only makes it fast, but also consumes less energy than some other exchanges available. Avalanche’s own consensus network, AVA, enables this while also allowing the development of dApps by users to enhance the platform further. AVA also allows users to launch their own, admittedly smaller, networks with the right infrastructure.

The Avalanche network plays host to ethereum, bitcoin, and other cryptocurrencies, as well as collectibles. It also enables P2P lending on its platform, something which has only recently come to the crypto space.

WHO ARE THE FOUNDERS OF AVAVLANCHE (AVAX)?

E.G.Sirer, K.Sekniqi, and T.Yin co-founded the Ava Labs firm, which invented Avalanche. Yin created the HotStuff Protocol, which is used in Facebook’s blockchain project, Libra. Sirer is a software engineer. The team has solid blockchain expertise and seeks to create a global trading market for various digital assets while also providing Ethereum developers with a scalable environment.

WHAT MAKES AVALANCHE (AVAX) UNIQUE?

Avalanche has strong properties that can help users all over the world construct custom apps using this heterogeneous interoperable network. Avalanche combines its engine with an acoustic design to meet a wide range of requirements.

• Avalanche is a groundbreaking Blockchain system that combines tremendous scalability, efficiency, and robustness. Its central consensus engine supports and controls hundreds of millions of global networks linked by low- and high-powered devices. All of these networks run in a peer-to-peer manner with low latencies, allowing for a high number of transactions per second.
• Avalanche has a high level of security and dependability. Classic consensus techniques could survive up to force attackers in the past, but they failed when the attackers were forced +1 or even bigger. Similarly, if 51 percent of miners are Byzantine, the Nakamoto consensus model cannot guarantee security. Unlike both, Avalanche provides strong security unless the attacker falls below a specific level. In this case, the system designer has the final say in determining the threshold’s specifications.

When attackers reach or exceed the threshold, Avalanche ensures even more security by implementing gentle degradation. As a result, the Avalanche architecture emerges as the first permissionless network to provide security against 51 percent or more of attackers.

• The underlying principle of Blockchain technology and its evolving protocols is decentralisation. When it comes to Avalanche, the platform was created with excellent decentralisation in mind. Multiple client implementations across the network are possible with this capability, and there is no centralised control. Avalanche does not require users, developers, or miners to know or trust each other on a specific level. Avalanche avoids conflicts among users with disparate interests and motivations on these conditions.
• Avalanche’s approach to developers working with the EVM is also unique, providing scale and flexibility for public and enterprise-grade apps and blockchains. As a particularly fast network with top security and significant scaling potential, Avalanche taps into the promise of digital assets, blockchain-based settings, and decentralised finance.

WHAT ARE THE HIGHLIGHT OF AVALANCHE?