In 2018, a pseudonymous group calling themselves “Team Rocket” released the Avalanche (AVAX) concept on the InterPlanetary File System, the decentralized file sharing protocol also known as IPFS. Two years later, the team, led by a Cornell college professor, launched the Avalanche mainnet and issued the AVAX token, now a top 20 cryptocurrency and the topic for today.
Avalanche is an open source, decentralized blockchain platform for building both enterprise and decentralized applications (dApps) with interoperability and scalability as its main features. Through a system of interoperable subnets, Avalanche boasts “infinite” throughput and the fastest transaction times amongst Layer-1 blockchains like Bitcoin, Ethereum, and Polkadot.
QUADX is almost here, are you ready? Learn More.
The Avalanche platform utilizes multiple chains including a Primary Network; with some chains being application-specific and others geared towards core functions. The Primary Network itself has 3 chains:
AVAX uses a Proof-of-Stake consensus mechanism, where validators on the Primary Network have a say in the network’s direction. Validator parameters that affect voting weight include staking amount and minting rate, while onchain decisions are made through a crowd oracle. The minimum amount that a validator must stake is 2,000 AVAX tokens.
Project status
Team
Making headlines
Ava Labs enters funding round with $5 billion valuation
AVAX price drops 11% after alleged whistleblower points to weaponized litigation
New ATH for Avalanche and its effects on AVAX performance
Boba launches the first Layer-2 on Avalanche
Competitive?
According to the Avalanche website, when compared with Layer-1 blockchains like Bitcoin, Ethereum, and Polkadot, Avalanche has a much higher transaction throughput level (infinite with subnets) and faster transactions (<2 sec/ts). AVAX is a top 20 crypto with a large backing and a deep development team with significant credentials.
Hiring?
Ava Labs has 36 current listings, primarily in engineering, marketing, and operations roles.
Social traction
The Avalanche ecosystem has well over a million followers with Telegram channels available in 21 languages.
Ever been hacked?
Multiple DeFi platforms built on Avalanche have been hacked:
Don't miss a Coin Profile - Sign up for the Crypto Weekly newsletter!
AVAX has a capped supply of 720M and is the native token for the Avalanche protocol. Block producers and validators stake AVAX and are incentivized through staking rewards. All transaction fees on the network are paid out in AVAX via burning.
Token allocations
Vesting:
All tokens (except for those issued via Public Sale Option B) are held to a vesting schedule:
Total supply
404,229,626 AVAX
Max supply
720,000,000 AVAX
Funding
$5.94M - Private seed sale - Feb. 2019
$12.60M - Private staking round - June 2020
$37.58M - Public token sale - July 2020
The full list of Avalanche backers includes Dragonfly Capital, Bitmain Technologies, and Galaxy Digital.
Token utility
Decentralized?
Burning Mechanism
AVAX transaction fees are burned.
Code Audits
Yes.
Bug bounty?
Yes.
While no official roadmap is available on public AVAX channels, a very active Medium account keeps the community updated with recent upgrades, news, and launches.
Avalanche is an open source, decentralized blockchain platform for building both enterprise and decentralized applications (dApps) with interoperability and scalability as its main features. Through a system of interoperable subnets, Avalanche boasts “infinite” throughput and the fastest transaction times amongst Layer-1 blockchains like Bitcoin, Ethereum, and Polkadot.
QUADX is almost here, are you ready? Learn More.
The Avalanche platform utilizes multiple chains including a Primary Network; with some chains being application-specific and others geared towards core functions. The Primary Network itself has 3 chains:
AVAX uses a Proof-of-Stake consensus mechanism, where validators on the Primary Network have a say in the network’s direction. Validator parameters that affect voting weight include staking amount and minting rate, while onchain decisions are made through a crowd oracle. The minimum amount that a validator must stake is 2,000 AVAX tokens.
Project status
Team
Making headlines
Ava Labs enters funding round with $5 billion valuation
AVAX price drops 11% after alleged whistleblower points to weaponized litigation
New ATH for Avalanche and its effects on AVAX performance
Boba launches the first Layer-2 on Avalanche
Competitive?
According to the Avalanche website, when compared with Layer-1 blockchains like Bitcoin, Ethereum, and Polkadot, Avalanche has a much higher transaction throughput level (infinite with subnets) and faster transactions (<2 sec/ts). AVAX is a top 20 crypto with a large backing and a deep development team with significant credentials.
Hiring?
Ava Labs has 36 current listings, primarily in engineering, marketing, and operations roles.
Social traction
The Avalanche ecosystem has well over a million followers with Telegram channels available in 21 languages.
Ever been hacked?
Multiple DeFi platforms built on Avalanche have been hacked:
Don't miss a Coin Profile - Sign up for the Crypto Weekly newsletter!
AVAX has a capped supply of 720M and is the native token for the Avalanche protocol. Block producers and validators stake AVAX and are incentivized through staking rewards. All transaction fees on the network are paid out in AVAX via burning.
Token allocations
Vesting:
All tokens (except for those issued via Public Sale Option B) are held to a vesting schedule:
Total supply
404,229,626 AVAX
Max supply
720,000,000 AVAX
Funding
$5.94M - Private seed sale - Feb. 2019
$12.60M - Private staking round - June 2020
$37.58M - Public token sale - July 2020
The full list of Avalanche backers includes Dragonfly Capital, Bitmain Technologies, and Galaxy Digital.
Token utility
Decentralized?
Burning Mechanism
AVAX transaction fees are burned.
Code Audits
Yes.
Bug bounty?
Yes.
While no official roadmap is available on public AVAX channels, a very active Medium account keeps the community updated with recent upgrades, news, and launches.
Be sure to join us on Telegram, Discord and Twitter!
—
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
Manage all your crypto assets on the go with zero-gas swaps and a unified portfolio at your fingertips.
Disclaimer: Information contained herein should not be construed as investment advice, or investment recommendation, or an order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation to buy, sell or hold a particular financial instrument; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Quad Terminal, or vice versa. Market information is made available to you only as a service, and we do not endorse or approve it.
Copyright © Quad Terminal
