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Avalanche AVAX

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1. Summary

Fundamental Rank
97
Developer Rank
99
Social Rank
98
Coinrank
99
Price
$11.44 -0.7%
Market Cap
$1.97B (#35)
Supply
172.42M / 377.75M
Description

Avalanche is this advanced blockchain platform developed with the promise of extreme scaling capabilities alongside fast confirmation times.

It is developed by Ava Labs, which allows anyone to easily produce their own multi-functional blockchain as well as decentralized applications or dApps. It is designed as a resul...

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Avalanche is this advanced blockchain platform developed with the promise of extreme scaling capabilities alongside fast confirmation times.

It is developed by Ava Labs, which allows anyone to easily produce their own multi-functional blockchain as well as decentralized applications or dApps. It is designed as a result of the limitations found in Bitcoin as well as other, older blockchain platforms, where you can find slow transaction speed, a high level of centralization, and a lack of scalability. Avalanche has its own, unique consensus protocol, that promises low latency, a high throughput, and a high level of resistance from attacks.

Its mainnet was launched in September of 2020, two months after it raised $42 million in a token sale that sold out quickly.

The AVAX Token Explained

The Avalanche platform is centered around its native utility token known as AVAX. This token is used for paying the network fees, staking, as well as providing a basic unit of account between each of the Avalanche subnets.

Features of Avalanche

Avalanche is built around a system of three interoperable blockchains, and these are:

  • The Exchange Chain (X-Chain) – used for the creation of new digital assets

  • The Contract Chain (C-Chain) – the Avalanche Ethereum Virtual Machine (EVM) implementation

  • The Platform Chain (P-Chain) – used for coordinating validators and creating subnets, where subnets are a set of validators that are tasked with achieving consensus on one or more Avalanche blockchains.

The C-Chain and the P-Chain are secured through the Snowman consensus, which enables high throughput secure smart contracts, and the X-Chain is secured by the DAG-optimized Avalanche consensus, which is a secure and scalable protocol that can achieve transactional finality within seconds.

Through the process of splitting this architecture across three separate blockchains, Avalanche has the ability to optimize for flexibility, speed, and security without any trade-offs, which makes it a powerful platform for both public as well as enterprise use cases, since the developers have a high level of flexibility in the types of applications they can develop.

As such, Avalanche allows both individuals as well as firms to easily deploy their own purpose-built blockchains, for both private as well as public use-cases. It uses a combination of multiple custom-built blockchains, alongside a powerful proof-of-stake (PoS) consensus mechanism to achieve a decentralized as well as powerful platform for developers to build on.

Given the fact that it is fully compatible with the Ethereum toolkit, if you are a developer, you can port your Ethereum dApp to Avalanche and launch an array of decentralized applications (dApps) on the platform as well.

Founders of Avalanche (AVAX)

Discussing the founders of Ava Labs, there are actually three of them.

First, we have Emin Gün Sirer, who is a computer scientist who has been associated with Bitcoin as well as decentralized networks. He has been concerned with the scaling opportunities regarding Bitcoin, and the Avalanche Consensus is a consequence of his research, which allows transaction volumes that are significantly higher than Bitcoin.

Another co-founder is Kevin Sekinqi, and the third is Maofan Yin, who is associated with Cornell University.

2. Price

$AVAX / USD

2.1. Market Performance

How does Avalanche's (AVAX) performance compare to assets of a similar market capitalization?

30 Day Return

-28%

AVAX

-19%

Similar Market Cap

60 Day Return

-51%

AVAX

-47%

Similar Market Cap

3. Developer Activity

We're monitoring 35 Github repos for the Avalanche project.

Commits vs. The Market

  • Past 4 weeks: 457 commits vs. an average of 58
  • Past 12 weeks: 2,287 commits vs. an average of 244
  • Past year: 9,856 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 199
Past 12 weeks 897
Past year 2831
Past week 10
Past 12 weeks 275
Past year 1187
Past week 0
Past 12 weeks 0
Past year 1119
Past week 4
Past 12 weeks 272
Past year 638
Past week 53
Past 12 weeks 128
Past year 614
Past week 74
Past 12 weeks 224
Past year 579
Past week 14
Past 12 weeks 72
Past year 542
Past week 42
Past 12 weeks 200
Past year 508
Past week 0
Past 12 weeks 0
Past year 397
Past week 0
Past 12 weeks 0
Past year 280
Past week 17
Past 12 weeks 69
Past year 176
Past week 2
Past 12 weeks 48
Past year 154
4. Social Activity
Reddit Subscribers (Avax) 8,211
Active Reddit Users 50
Telegram Users 23,538
Twitter followers 134,144
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