Avalanche is a smart contract that exists in the blockchain industry and has been in development by one of the founders and clients under Ebbe Altberg, the CEO of Linden Lab. They have released a video demoing their Alpha version, which is still being designed to work with Ethereum's Virtual Machine (EVM). It is not clear if they are going to use Ether or another cryptocurrency as their medium of exchange. According to the video, they make use of a new programming language for Solidity, which is called Viper and has been recently released by Vitalik Buterin. In short, Avalanche is super quick, low cost, & eco-friendly. CryptoLists.com would not be surprised if AVAX take market share in 2022 from other competitors.
Briefly about Avalanche
What Blockchain does Avalanche use?AVAX uses a blockchain technology called triple-blockchain design. They are as follows: Contact chain (C-Chain) enables the creation of decentralized apps based on smart contracts. Exchange Chain (X-Chain). It creates and trades the traditional AVAX tokens. Platform Chain (P-Chain) makes coordination with validators who verify transactions and create dynamic sets of these validators known as subnets. This blockchain design enables AVAX to process over 4,500 transactions in a second and still maintain a large scale. In return, AVAX can make many positive returns, thus making it more adaptable to investors in the market. The cryptocurrency already has a disaster recovery platform built on its blockchain. This platform enables the local and state governments to prove eligibility, therefore, receiving funding from the federal in times of emergencies.
Ludicrous Fast, Low Cost, & Eco-FriendlyCryptoLists.com
In the last months, Avalanche has been able to 34x of return to its early buyers. This is possible because Avalanche uses triple-Blockchain technology architecture. Even though Avalanche is a new cryptocurrency in the digital market, it already has a market cap of $300 million. If you compare it to other cryptocurrencies that have been in the market for a longer time, this is quite impressive. Currently, it has a market cap of over $27 billion, giving it a higher rank of number 1 among the biggest currencies in the entire world according to the CoinMarketCap.However, as an investor, you must be concerned about whether you will manage to make such big returns in a short period. Here, you will know whether it is reliable crypto to invest in or not. Read more to find out.
Utility of Avalanche?
It is a self-correcting smart contract that uses the voting mechanism to solve any disputes that might occur. This ensures trust among all parties for an immutable and censorship-resistant system of record.
The decentralized nature of Avalanche means it will work without depending on centralized exchanges such as Coinbase or Gemini. The issue with centralized exchanges is that they can go offline during times of heavy use or government regulation of cryptocurrency. Avalanche will provide a decentralized alternative to the centralized exchanges of today.
Avalanche plans on integrating with the InterPlanetary File System (IPFS), which is an idea that has been around for several years now but never had traction until recently when it was announced that decentralized storage would one day be possible on the blockchain.
Avalanche Price detailsAVAXC Contract address: FvwEAhmxKfeiG8SnEvq42hc6whRyY3EFYAvebMqDNDGCgxN5Z
›› AVAX tokenomics and social media
Advantages at Avalanche+ Only 35 Bytes/ transaction.
+ They already have lots of industry partners.
+ 4500 Transactions/second.
+ Limited Blockchain Bloat.
Disadvantages- No wallet available.
- No product yet.
- Limited customer support.
- Not very clear or developed blockchain that people are aware about.
Costs▪ Rated at 10/10
Avalanche is designed to avoid the costs that come with blockchain bloat. AVAX stands out with really low gas fees and transactions costs compared to Ethereum, even if Polygon have even lower costs.
An Avalanche transaction consists of a single OP_RETURN transaction output, which only takes up 35 bytes. This compares to an average Ethereum transaction today, which can consist of more than 803660 bytes (according to Etherscan).
According to the developers, this allows a throughput of a whopping 100 transactions per second, which would allow Ethereum to handle a capacity comparable to Visa's network. You'll pay a fee of 5% of the total value when transferring assets worth $20 or less. If the value is more than $20, then your fee will be $1.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
With such high throughput and low cost, you'll be getting the best bang for your buck ever. This is sure to make it one of the most popular cryptocurrencies in the market today. They have already received some hype and buzz within the industry because of their client list under Ebbe Altberg, including Facebook, Unity 3D, and IBM.
Ebbe Altberg is also one of the most experienced individuals in the industry with 30 years of experience managing, designing, and building virtual worlds for numerous companies such as Microsoft, Disney, and Linden Lab. They also have a strong and capable team working under them, including Jama Jurabaev (Senior 3D Artist), who has worked on movies like Spiderman and Transformers; George Choi (Software Engineer), helped design the IBM Watson Natural Language Processing service; and Oleg Boyko (Scala Developer).
Some of the developers involved in Avalanche▪ Rated at 10/10
The logos below represent some of the developers who have been involved in Avalanche. Check out the developer about page, by clicking the logo. There you can see what coins they have developed and at what exchanges, brokers and trading platforms their coins are available.
How long does a bridge transfer take?
It should take roughly 10-15 minutes for an ETH transaction. On the other hand, an Avalanche transaction should only last a few seconds.
Can I send ETH or BTC across the bridge?
AVAX bridge currently does not support the native BTC and ETH. However, you can wrap the versions of these two asserts across the bridge.
What are the triple-blockchain architecture that AVAX uses?
Contact chain (C-Chain) enables decentralized apps based on smart contracts.
Exchange Chain (X-Chain). It creates and trades the traditional AVAX tokens
Platform Chain(P-Chain) makes coordination with validators who verify transactions and create dynamic sets of these validators known as subnets.