How does an avalanche work?? Should you watch it? How and where do you buy it? These and many more are questions about avalanche (fax), the cryptocurrency of the decentralized platform of the same name that has been the focus of, for two years now, the spotlight on decentralized finance.
Avalanche was launched in 2020 and its developers define it as “blockchain for blockchains”, a blockchain ecosystem for developing smart contractAnd decentralized applications And NFT It is designed to function as a secure, scalable and interoperable network, and to solve the multiple problems found in most block chains. Its special features and wide functionality make it a very exciting technology for experts and beginners, who are curious to know more about both the blockchain and the Avalanche crypto, AVAX, whose price has skyrocketed in recent months. Here is a complete guide.
Avalanche: what it is and how it works
The avalanche is a platform smart contract Level 1 compatible with Ethereum which can host any protocol web 3. Avalanche can digitize any type of asset on its blockchain, such as cryptocurrencies, stocks, artwork, and commodities. Developers can build and deploy decentralized applications (dApp), which is a unique case in the decentralized financial landscape because it is a DeFi platform that finishes transactions in less than a second thanks to the system proof of stake.
Created with the main goal to be FasterAnd economicAnd sustainable And flexible Compared to other smart contract protocols, Avalanche was launched by Ava Labs In September 2020, thanks to a $60 million round, Avalanche received funding from leading venture capital firms such as Adreessen Horowitz, Polychain Capital and Initialized Capital, and entrepreneurs such as Balaji Srinivasan and Naval Ravikant.
The avalanche use cases are extensive: the network is used to build projects for decentralized exchanges (DEX), NFT Markets, Asset Issuance, Loans, Portfolio Management, Peer-to-Peer Payments, Insurance, Automated Market Makers (AMMs), Document Tracking, Digital Identity, Debt Finance, Real Estate and Intellectual Property.
fax It is the original and main token of the Avalanche Network, which was launched to raise funds for the project, but the platform also allows the issuance of other tokens. AVAX has a maximum supply of 720 million tokens, half of which are generated using the config block. Similar to Ethereum, fees are burned in Avalanche to keep the number of tokens in circulation low and prevent them from losing their value.
When launched, AVAX was trading at $4.10 With a market capitalization of 100 million dollars. In 2021, AVAX also enjoyed an upward trend for cryptocurrencies, as its price outperformed $130. At the time of writing, the price of the Avalanche crypto is $60 Roughly it is among the top 20 cryptocurrencies by market cap, next to Dogecoin and Polkadot.
Advantages of avalanche
As we said at the beginning, the goal of the avalanche since its inception has been to solve problems and overcome the limitations found in most blockchains. It is decentralized, which makes it one A valid alternative to EthereumBut it also has advantages over Ethereum as it offers more programmability, flexibility, and more functionality. In the event of an avalanche, users and businesses can easily create new custom blockchains, specific Dapps, tokens and cryptocurrencies, and easily trade digital assets.
But that’s not all, because it is also faster than Ethereum: the network is used to finalize the transaction less than two seconds, versus 6 minutes of Ethereum, which puts it on par with the world’s top payment processors like PayPal and Visa. Without considering that the distribution of smart contracts on an avalanche It only costs ten How much does it cost on ethereum. In terms of operating costs, Avalanche is cheaper than Ethereum because it has lower gas fees.
How to buy Avalanche on Al Shabab platform
The easiest way to purchase an avalanche is through a Cryptocurrency exchange. The procedure is very simple: just create an account, verify your identity, top up the account with the purchase funds and create your own crypto wallet. There are many exchanges in the market that allow you to buy and trade AVAX, differing in fees, security, payment methods and functionality.
One of the best at the moment youth platforma secure Italy-based exchange that allows you to buy, sell and exchange cryptocurrencies using traditional currencies, including the Euro, both from the website and from the app.
Buying cryptocurrencies on the Young platform is simple and does not require specific skills, on the contrary: the platform, with its user-friendly and easy-to-use interface, educational resources, guides and courses on blockchain, tokens and virtual currencies, is an excellent starting point for beginners who want to get started in Buy cryptocurrency safely and easily. There is also a version Youth Pro . platform With advanced tools and features for the most experienced traders.
to Buy avalanche on youth platform Just go to the site or app for iOS and Android and register, that is, open an account. Registration is free and does not include any restrictions of any kind: there are no activation or administration costs.
You will need to provide your name, surname, phone number and password, and confirm that you are 18 years old and accept the terms and conditions. You will then be asked to set a PIN to protect access to the app, and to verify your identity by entering your address and residence, nationality, date and city of birth, Social Security number, and take a photo of the document. Side ID cards and a photo.
Once you have created your Young Platform account, you can now deposit and take action. To top up your account, you can use bank transfer, credit and debit Mastercard, Visa, Apple Pay, cash through Young Platform Cash at payment counters at PAM and penny supermarkets, or vouchers that can be purchased at convenience stores, bars and cigarette dealers.
To buy Avalanche and other cryptocurrencies on Young Platform, just enter the list, click Buys, choose the currency to buy (in this case avalanche) and enter the amount in Euros you want to deposit. You can also select a file frequent purchase-Automatically repeat shopping on a weekly, bi-weekly or monthly basis. Once your purchase is confirmed, Avalanche will be available in your main wallet and you can decide if you want to keep it on the Young Platform, withdraw it or send it to Pocket wallet external.
On the Young platform, you can buy and sell major cryptocurrencies by capitalization such as Bitcoin, Ethereum, Tether, Luna, Ripple, Solana, Cardano, Polkadot, Dogecoin, and Stellar.
In collaboration with Young Platform