Like An Avalanche: Blazingly Fast.

In the year 2020, Ava Labs, an ambitious blockchain startup with the goal of digitizing all the world’s financial assets created Avalanche. It’s time to learn about AVAX coin and AVAX bridge. Stick around to understand how to buy Avalanche token with crypto and perform an AVAX exchange at the best rate.

What is Avalanche crypto?

Avalanche is a layer-1 platform with the goal of providing a scalable blockchain solution while retaining decentralization and security. Layer-1 platforms are, in other words, smart contract platforms. They form the base layer for crypto ecosystems.

Layer 2 projects including DeFi, NFTs, and Web 3 projects are built on them. Other top layer-1 blockchains apart from Avalanche include Ethereum, Solana, Cardano, Polkadot, Binance Coin, Terra, and Algorand. Generally, layer 1 blockchains compete in three key levels: security, scalability, and decentralization. Avalanche prioritizes minimal prices, quick transaction speeds, and environmental sustainability. This article will shed light on the key features, the uses and how to buy Avalanche.

Avalanche (AVAX)

Key Features of Avalanche

HIGH TRANSACTION THROUGHPUT

Transaction throughput is the rate at which valid transactions are committed by a blockchain within a particular time and is usually expressed as the number of transactions per second. Avalanche builds itself upon a new consensus protocol that is based on the avalanche effect. It enables the platform to achieve high transaction throughput while maintaining decentralization. While Bitcoin and Ethereum can support 7tps and 14 tps respectively, Avalanche can remarkably support 4500+ tps. In essence, a transaction that would normally take an hour to complete on the Bitcoin network is almost immediate on Avalanche!

HIGH TRANSACTION THROUGHPUT

SHARDING

Sharding is a crucial part of improving scalability of a blockchain network. It means dividing the network nodes into groups and sharing the information stored in the network between these groups. The database, thus, “breaks” into shards (smaller pieces). Avalanche employs a unique “sharding” mechanism that allows it to process multiple transactions in parallel, thereby increasing its overall efficiency.

ETHEREUM VIRTUAL MACHINE (EVM)

Avalanche also features a unique smart contract language called “Ethereum Virtual Machine” or EVM, designed to be more user-friendly than existing languages such as Solidity.

ETHEREUM VIRTUAL MACHINE (EVM)

AVAX COIN

The native token of Avalanche is AVAX. It is a utility token that serves as the ecosystem’s medium of exchange. In other words, it is the currency within the network, typically used for fee collection in transactions, incentives, and many other use cases. One important use case for AVAX is cross-chain payments. For example, suppose there are two applications running on separate blockchain platforms that want to interact with each other. Traditionally, this would require both applications to support the same underlying blockchain platform. However, with Avalanche, they can use AVAX to pay fees and conduct transactions on the other application’s platform. This allows for a much more open and interoperable ecosystem of applications.

AVALANCHE WALLET

Ava Labs offers a free and open-source Avalanche wallet for both desktop and mobile devices. The wallet supports both single and multisignature addresses, so you can choose the security level that best suits your needs. Additionally, the wallet allows you to view your transaction history, receive payments, and manage your AVAX balance.

AVALANCHE WALLET

AVAX BRIDGE

The AvaLabs team is working hard to make it easy for users to exchange their AVAX tokens for other cryptocurrencies and fiat currencies. In order to do this, they built a bridge that allows you to send AVAX directly to any supported cryptocurrency or fiat currency address. This makes it easy for you to exchange your AVAX tokens for whatever you need!

AVAX EXPLORER

The AvaLabs team created Ava Explorer as a block explorer and transaction monitor for the Avalanche network. The open-source tool provides users with transparency into the state of the network and allows them to search for addresses, transactions, and blocks. With Ava Explorer, you can also view detailed information about each transaction, including its sender, receiver, timestamp, amount, and fee.

One useful feature of Ava Explorer is the ability to track the AVAX balance of any address. This can be helpful in determining whether an address is active or not. Additionally, the Explorer provides users with charts that visualize various aspects of the network such as transaction volume and gas usage. These features make Ava Explorer an essential tool for anyone interested in the Avalanche network.

AVAX BRIDGE

Avalanche Ecosystem

The Avalanche ecosystem is composed of three main protocols: the avalanche network, the subnetworks, and the platform chains.

  • Avalanche Network: it is the primary protocol that all other protocols in the ecosystem build upon. It includes features such as a unique consensus mechanism, known as avalanche consensus, which allows for fast and secure transactions. Avalanche is also eco-friendly, using less energy than traditional blockchain platforms. The Avalanche Network consists of two main components: nodes and clients. Nodes are responsible for validating transactions and maintaining the blockchain state. Clients are applications that use the Avalanche Network to send or receive transactions
  • Subnetworks: Subnetworks are specialized protocols that provide additional functionality on top of the Avalanche Network. There are currently three subnetworks: the Avalanche testnet, the Avalanche mainnet, and DeFi Avalanche. The Avalanche testnet is a public testing environment for new features and applications before realising them on the mainnet. The avalanche mainnet is the live version of the Avalanche Network, where users can transact with real money. Finally, DeFi Avalanche is a subnetwork for decentralized finance (DeFi) applications. It allows users to interact with DeFi applications in a trustless manner.
  • Platform chains: Platform chains are application-specific blockchains that use avalanche consensus to achieve scalability and security. Currently, there are two platform chains: the Avalanche testnet and the Avalanche mainnet.

Avalanche Ecosystem

Avalanche Use Cases

Avalanche has a variety of uses cases, including but not limited to:

  •         Decentralized finance (DeFi) applications
  •         Supply chain management
  •         Insurance
  •         Identity management
  •         Digital voting

The potential use cases for Avalanche are only limited by the imagination. Therefore, the platform is flexible and scalable, able to adapt and meet the needs of a wide range of users and industries.

Avalanche Use Cases

AVAX Exchange: how and where?

Now that you know a bit more about AVAX, you may be wondering how to buy Avalanche token with crypto. The good news is that there are a number of exchanges where you can do this. However, not all exchanges offer the same rates, so it’s important to compare them before making a purchase. The AVAX exchange platforms are available on Swapzone so that you can browse through them to choose the best rate.

AVAX Exchange at the best rate: Swapzone.

  1. To start with, go to Swapzone.io.
  2. In the Send section, choose any accessible crypto coin, such as BTC.
  3. Indicate the total amount you’ll be transferring.
  4. In the Get Up To section, choose AVAX.
  5. Examine the offers displayed on the screen. There are many BTC to AVAX exchange rates available, with the best one shown first. You can also check how long it would take you to conduct the trade in minutes.
  6. Confirm that you want to proceed with the offer and provide your details to complete the AVAX exchange.
  7. Make a BTC deposit to a randomly created address.
  8. Wait for the exchange service to process the deposit and complete the transaction.

AVAX Exchange at the best rate: Swapzone.