Avalanche, In A Nut Shell

Avalanche is a cutting-edge smart contracts platform designed to offer speedy throughput on par with the world's leading platforms.

It offers a plethora of unique features along with support for the Ethereum Virtual Machine. This ensures it works well with a wide array of compliant Ethereum tools such as MEW, Remix, Truffle Suite, MetaMas, and more. It also provides support for new-age programmability that is essential at the network and application level. This is ideal for developers that are looking to take the next step with their projects and want to ensure everything is as decentralized as it needs to be.

Avalanche is a platform that is designed as a high-powered solution that can act as a registry for different assets including non-fungible tokens (NFTs).

Why Is Avalanche Exciting?

It is not just about simple scarcity with this platform nor is that what makes it special. It is about the built-in demand that is present. There is limited supply associated with this token but it is also ideal for usage in a wide array of industries making it popular among different entities. Bitcoin is a good example of a cryptocurrency that has a limited supply and its usage comes from completing transactions.

With this token, it is also possible to capitalize on the utility of the platform both at the consumer and commercial levels.

A lot of people have spoken about this being a high-powered network that is great for those who want to process a large number of transactions. Bitcoin doesn't hold up as well as time goes on but that is not a concern here. This is a cryptocurrency that is going to offer a high number of transactions per second making it more powerful for the average user. This is a solution that has been designed with visa-level throughput, which means it can get up to 6,500 transactions per second along with millions of validators that make sure everything is as decentralized as it needs to be.

Due to its visa-level throughput, it can continue to grow larger and do well regardless of how many transactions are coming through. This makes it far more appealing as a payment processor compared to other cryptocurrencies including bitcoin.

Another reason this is an exciting project has to do with the derivatives market. Trillions of dollars are pushed through this market regularly and there are strict legalities in place when it comes to what is legal and what is not. This means it is important to have some sort of validator in place to help the derivatives market remain above board year-round.

This is where more and more countries are being stringent about what is permitted and what is not in this market. By having something as powerful and refined as this platform, the market will have the ability to trade securities with the help of a decentralized set of validators. This makes sure everything is ironclad and safe for those participating in the market.

Avalanche's Token & Governance Model

This platform has a token model that is built around AVAX tokens.

AVAX tokens are the native token used for this platform. There is a capped supply available through the platform and it is set at 720 million AVAX. From this amount, 360 million AVAX are reserved for the mainnet. These tokens are central to how the platform and network works as the foundational element to keep it running. This is what is used to complete transactions and this is how scarcity is developed as the tokens are burned.

Those who are participating on the network, they become full block-producers and validators as soon as they begin to stake AVAX. The reason for doing this is the staking. There are rewards for those who act as block-producers because there are high staking rewards for those who are willing to put up their tokens for the network.

This also allows the tokens to be kept in the network and not used for transactions, which increases their scarcity on the open market.

It is important to note, the AVAX token continues to be burned with new transactions and there are small fees attached to these transactions. Everything goes through the main Avalanche subnet, which makes it the central hub of what is going on with the network.

Those who are going to be staking gain access to a network that is easy to use, lightweight, and ideal for those who want high staking rewards. All you are going to need when it comes to participating is 2,000 AVAX and that will be enough to become a full block-producer. To do this, it can be set up on Mac, Windows, Linux, and/or different cloud-based solutions.

When it comes to the governance mechanism of this token, it is built on the concept of dynamic changes as the system continues to develop. This means the staking rewards will change beginning at somewhere around 7-12% annually.

Who Is On The Team?

This blockchain project is heavily supported by some of the biggest names in the finance and tech industry.

This includes a long list of professional technologists that have been on the lookout for something high-powered, unique, and futuristic. This is where their visions have come to fruition in the form of a refined network that offers thousands of transactions per second.

The team is backed by a long list of professionals that include members from some of the biggest tech companies on the planet.

It all starts at the top with CEO Emin Gun Sirer.

Emin has spent time as a professor at Cornell University and is heralded for his work on operating systems, distributed systems, and networking. He is an established name when it comes to developing a currency that was built on the premise of the Proof-of-Work (POW) concept. This was used as a way to mint coins and that is when he put together a selfish mining paper citing what it took to scale a network and manage centralization. This includes researching various off-chain and on-chain scaling solutions.

He has also spent time as a Co-Director at a leading cryptocurrency initiative with the desire to help with different proofs-of-concept along with whiteboards. This is to help integrate them into modern financial systems.

John Wu is another top-tier name on the team and has been working as a trusted fintech executive for two decades. He has also spent time as the CEO of SharesPost Digital Assets Group. He is a reputable name because of his time in the financial world and how he has continued to help projects grow over the years.

Who Has Funded The Project?

Funding for this project started in 2020 and has continued with each passing day. It is noted for being one of the premier projects in the cryptocurrency industry and was backed by Galaxy Digital, Initialized Capital, and Bitmain. It has also received acceptance by academics.

How To Participate

What does it take to get started with this network and get your hands on AVAX tokens?

The first step is to create an online account. This is going to be done with the help of a trusted crypto brokerage that offers access to AVAX. You can get them with platforms such as Binance, which will provide as many AVAX as you need.

Please note, these are not available on some of the other brokerages such as Gemini and/or Coinbase, but this might change in the coming days.

Take the time to create an account on one of these platforms such as OKEx, Binance, or Huobi to get started. You will want to make sure all of your information is accurate when doing this.

It's important to remember that storing your coins on these brokerages is not a good idea. You should be looking to remove them onto a separate private wallet as soon as possible. You can buy a Ledger to do this and then quickly transfer them over to the wallet once you invest.

This is a lot smarter than having the tokens on the exchange as that might make it harder to keep them safe.

When you are ready to move forward with the investment, it's time to set up the cryptocurrency wallet and then move over to the exchange. Here you are going to set up a market or limit order based on what you prefer. A market order is going to buy at the current price while a limit order will buy only at the price you have set. Remember, limit orders will take longer to go through most of the time.

This is something to keep in mind when it is time to spend money on AVAX tokens.

Make sure to take your time doing this to ensure you get as many tokens as you need. Only go with the exchanges that have been cited here to ensure you are going with a brokerage that is noted for offering legitimate tokens.

This is the best way to get started the right way.