Avalancheis a first-level decentralized platform that allows you to create decentralizedapplications and multifunctional blockchains.The project is headquartered in Singapore with offices in New York and Miami. Members of the international Avalanche team have experience in Microsoft, Google, NASA and other leading organizations.
Price AVAX: $24.89
ATH: $145.85 (11/21/2021)
Drop from ATH: 83.0%
Daily trading: ~$1 billion
Max. issue: 720,000,000
In circulation: 283,856,529 (39%)
Market Cap: $7.0 billion
PlatformAvalanchewas launched by Ava Labs, a company founded by a professor at Cornell UniversityEmin Gun Sirerwith two doctors of computer science -Maofan "Ted" YinAndKevin Secnicki. The Avalanche network itself was launched in September 2020.
Interestingly, its first cryptocurrency, which was calledkarma, Sirer tried to create back in 2003 - six years before the advent of bitcoin.
Unique architecture
NetAvalancheconsists of three separate blockchains:X-Chain, C-ChainAndP-Chain. Each chain has a separate purpose thatis radically different from the approach used by Bitcoin and Ethereum, where all nodes verify all transactions. This division of computing tasks allows Avalanche to have higher throughput without sacrificing decentralization.
AVAX Token
CryptocurrencyAVAXis the native token of the platformAvalanche. The maximum emission will be720 million. ValueAVAXis that the token provides access to a wide range of platform services and participates in the security of the network, and also opens up opportunities for owners to manage the platform.
Important—Avalanche burnsall transaction fees on its network, so the supply of AVAX tokens will decrease as more users use the platform.
Watch the burning of tokensAVAXrealtime can be found here: https://burnedavax.com/
Ecosystem funding
Avalanche Foundation, Ava Labs, AVentures DAO, Avatar Ventures— all these organizations contribute to the developmentAvalanche ecosystems. The biggest contributor, however, is the Avalanche Foundation, a foundation that has committed tens of millions of AVAX over the past year to fund the development and growth of the Avalanche ecosystem. As a result, today more than 200 decentralized projects and subnets are running on Avalanche.
Institutional and corporate implementation
Ava Labs partners with Aave, GoldenTree AssetManagement, Wintermute, Jump Crypto, Valkyrie and Securitize to create a DeFi subnet with KYC features. Avalanche also has two other notable partnerships:
Deloitte- international leader in consulting andaudit and Ava Labs are collaborating on the Close As You Go platform to improve FEMA's reimbursement process.
Lemonadeis an insurance company that is developing the Lemonade Crypto Climate Coalition app on Avalanche to provide weather insurance for farmers.
Conclusion
Even though the networkAvalanchelaunched only at the end of 2020 it already hassignificant growth of its ecosystem and important corporate partnerships. This platform definitely deserves attention and we will continue to monitor its development!
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