We keep exploring limitless DeFi space! The next popular and noteworthy token to investigate is AVAX, which is a native token of the Avalanche network. It is popular and takes 11th place among all cryptocurrencies on CoinMarketCap.com.
Let’s take a look over general AVAX Stats. It’s pretty great, and you can reap the benefits of AVAX on Biswap! Read how in the article below.
What is Avalanche Network?
Avalanche is a blockchain platform for launching Decentralized Finance (DeFi) applications, financial assets, trading, and other services.
The platform aims to become a global digital asset exchange network, allowing anyone to create, trade in any form, and control them in a decentralized manner through smart contracts and other innovative technologies.
Avalanche launched its network in September 2020. It has three co-founders, including Emin Gün Sirer, a computer science veteran with a long history of involvement with Bitcoin (BTC) and decentralized networks, and the other two co-founders who are also affiliated with Cornell University.
What is the AVAX token?
The platform’s own token, AVAX, serves as governance in Avalanche and also functions as a reward and payment system for users.
A little bit of history. The first private sale of AVAX tokens took place in May 2020, when almost 25 million coins were sold to investors at a price of $ 0.50 for a total of $ 12 million.
For the current date, the AVAX price is $94.02. According to CoinGecko, AVAX was up over 3,000% last year.
You can get AVAX by buying altcoin on Biswap or receiving it as a reward for keeping the blockchain running.
Take a look at the AVAX price graph:
What Makes Avalanche blockchain Unique?
Avalanche provides decentralized asset trading that anyone can start and use with a network that provides transaction confirmation in seconds.
The creators of Avalanche aimed to bring together the vast, fragmented, and often opaque world of asset trading in one spot for easy access. Developers can create and release all sorts of objects, from blockchains to digital representations of any asset, and allow them to trade by any given parameters.
The AVAX token is Avalanche’s internal payment method and is used to collect commissions during transactions, as well as for rewards and other related purposes. Users can also earn passive income by placing their coins on the network.
What is AVAX Tokenomics?
AVAX has a maximum cap of 720 000 000 tokens. The genesis block contained half of the emission.
The second part of the emission will be issued in accordance with the curve detailed in the official Avalanche docs. The key difference from Bitcoin issuance — which cannot be changed — is that the AVAX issuance rate can be changed in consultation with the community. The general offer cannot be changed; all that can be different from consensus is the speed at which the supply limit is reached.
In contrast to Bitcoin and many other networks, transaction fees are “burned” to increase token scarcity. This process is offset by the issuing “minting” of new coins.
The transaction fees themselves depend on the type of operation performed by AVAX transactions on the Avalanche network.
How is the Avalanche Network Secure?
Avalanche is a Proof of Stake (PoS) protocol that rewards users for staking coins. PoS networks have been criticized for their low attack cost, which in some cases has exposed serious vulnerabilities.
According to Ava Labs, Avalanche solves this problem by changing control so that an attacker cannot covertly reach the required consensus.
Trade & Earn AVAX token on Biswap!
Trade AVAX on Biswap Exchange with the lowest commission fee of 0.2% on BNB Chain:
Then increase your AVAX assets to the moon via AVAX-BNB Farm with a huge 27.93 % APR!
Besides, you have a chance to reap additional benefits from trading AVAX via Biswap Trading Competition with Network Tokens:
Trade AVAX on Biswap, and you will be surprised with profitable merits!
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