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Avalanche is a young project being developed by Ava Labs. Starting in September 2020, the platform enables users to simplify the creation of new, flexible blockchains and decentralised applications (dApps). Find out what Avalanche and its native AVAX token is, what advantages investors see in the Avalanche network and what the current price of this cryptocurrency is.
How much does Avalanche (AVAX) cost?
Since the ICO in September 2020, AVAX has enjoyed tremendous investor interest. Avalanche's chart is characterized by an upward trend, with a few sudden points of growth. One such point, undoubtedly, is September 2020 - in just 5 hours Avalanche raised $42 million then!
Market capitalisation places Avalanche in the top10 for this feature and is currently .
How much dollars for AVAX? Avalanche cryptocurrency exchange rate (AVAX USD) in a 24-hour period
The current price of Avalanche is , which means that in the last 24 hours AVAX has changed its price by .
How much PLN for AVAX? Avalanche (AVAX) course AVAX period 24h
Avalanche's current price is , which means that in the last 24 hours AVAX has moved its price by .
What is the Avalanche (AVAX) cryptocurrency?
Avalanche is an open source platform. Blockchain, which with its scalability and speed of transaction execution beats hundreds of cryptocurrencies available on the market - including the most important competitor - Ethereum, which Avalanche developers approach in a very friendly way.
Avalanche's transaction processing time is 1 second, with powerful solutions capable of processing up to 4500 TPS (transactions per second).
Transaction fees on Avalanche are supported by the native AVAX cryptocurrency. The token is also used to secure the network and as a means of settlement for side blockchains on the Avalanche network.
Currently in circulation is AVAX.
How does Avalanche work?
The Avalanche project brings together many different projects and blockchains, but the core network is characterised by three chains:
It is a payment system, based on the AVM (Avalanche Virtual Machine) protocol, enables AVAX cryptocurrency trading and payment processing online. The system is based on the innovative DAG (Decentralized Acyclic Graph) that another (older) cryptocurrency, IOTA, became famous for.
It is a management system that coordinates nodes and validators, and actively tracks subnets and enables the creation of new subnets. P-Chain incorporates Snowman's consensus protocol, a structured high-bandwidth protocol that is great for handling smart contracts.
It is a contract chain that enables the creation of smart contracts using the C-Chain API. The protocol enables the execution of smart contracts created on the EVM (Ethereum Virtual Machine).
Avalanche is a smart contract platform that supports both decentralised applications (dApps) and autonomous blockchains. What makes Avalanche stand out in the maze of projects?
AVAX regulated supply - The maximum supply of AVAX is limited to 720 million tokens, but users of the network can decide on the inflation that Avalanche has. AVAX holders vote and adjust the size of the block reward, which is paid to validators for adding a new block to the Avalanche blockchain.
Token firing All transaction fees on the Avalanche network are burned - the network removes them from circulation - so that the supply of AVAX decreases over time, which will not be unaffected by the rising token price. The transaction fee is also regulated by a vote of token holders.
Proof of Stake Avalanche is one of the first major projects to implement a secure PoS consensus and strongly encourages holders to process transactions, for which users can earn a growing number of rewards.
Who created Avalanche?
Ava Labs employs more than 110 people, and according to founder and CEO Emin Gun Sirer, almost every member of the team has experience working on Ethereum.
However, the most interesting link is the aforementioned founder - Sirer - a man deceptively reminiscent of... Satoshi Nakamoto!
Before there was even a Bitcoin, Sirer came up with a project for his own cryptocurrency - Karma, and that was back in 2003! The founder of Avalanche has been involved in decentralised finance for years, has contributed significantly to the development of the idea of cryptocurrencies and all this with an academic approach - because he himself is a professor of computer science at Cornell University.
Sirer created Avalanche with the imperfections of Bitcoin in mind, which he found with his colleague Ittay Eyal (also a professor).
Where to keep AVAX?
A recurring theme when it comes to cryptocurrencies is the safe storage of funds. Unlike stock exchanges or derivatives, the topic is simple - users can only store their funds in a platform account.
Storage is slightly different for cryptocurrencies - or digital currencies. Cryptocurrencies have dedicated wallets and the user has a multitude of options.
The most common recipe for security (among users), is to leave funds in the account of a cryptocurrency exchange. This is not the safest option for very many reasons - cryptocurrencies do not share private keys, meaning that de facto cryptocurrencies are not ours.
However, if you want to keep funds on the exchange, if only because of frequent exchanges, secure your account carefully! Secure your account with two-step verification and new IP verification. You should also set up email confirmations of withdrawals - this will minimise the risk of unwanted withdrawals by an unauthorised person.
Hardware wallet for Avalanche
The most secure hardware wallets for AVAX are Ledger and Trezor. The devices maintain the highest level of security and are devices designed solely to store cryptocurrencies.
Online wallet for Avalanche
AVAX holders often use the popular MetaMask wallet, which can be configured to work with the Avalanche network. Another option is Wallet.Avax.network, which allows users to use the full capabilities of the network, including stake cryptocurrency and earn rewards from confirming transactions.
Is it safe to invest in Avalanche (AVAX)?
The latest news indicates that Avalanche is an increasingly strong competitor to Ethereum, but is it safe to invest in this project?
The undoubted advantages are the huge scalability, combined with the flexibility to create multiple blockchains, consistent with the main network. Avalanche supports virtual machines for Ethereum and contracts written in solidity (compatible with EVM), but the project is also able to support Bitcoin. Energy efficiency and reliance on the Proof of Stake consensus are also huge pluses.
On the other hand, Avalanche has very tough competition - Cardano and Ethereum will only strengthen their position in ranking and adoption. Staking itself is also a problem for users, where at least 2,000 AVAX must be staked to validate transactions. Additionally, malicious or careless validators, are not punished by losing their tokens.
Besides the clear pros and cons, investors perceive Avalanche as a safe project. Valuable in the eyes of users is the awareness of the project's founders - the information about Avalanche's preparations for the cryptocurrency winter, from which many projects may not come out in the best shape, or at all, was very warmly received.
How to buy Avalanche?
Avalanche is a young project, available on the market only since September 2020. Buoyant and carefully planned development of the project, has led to enormous popularity and rapid growth in market capitalization, thanks to which AVAX is a popular token listed in large numbers by cryptocurrency exchanges. You can buy the token on OKX, Bitget, DigiFinex and KuCoin, among others.
How much AVAX? Avalanche Calculator
The currency calculator on Eger is a representation of how much cryptocurrency you would buy with a certain amount of money. The data in the calculator is refreshed in real time, so you can be sure that the fiat - AVAX pair is up to date.
The text is not investment advice and Bitclude (Egera) is not responsible for its misinterpretation and use as an investment aid. The information presented in the article should not be viewed as a body of decision-making knowledge.