What is Avax coin (Avalanche)?

What is AVAX Coin
Avalanche - Avax Coin

What is AVAX Coin (Avalanche)?

AVAX is the abbreviated symbol for Avalanche Coin, the native token produced by AVA Labs, co-founded by Prof.Dr.Emin Gün Sirer, Kevin Sekniqi and Maofan “Ted” Yin. In other words, Avalanche coin is shown with the symbol AVAX on coin platforms.

How does AVAX Coin work, what are its features?

Avalanche (AVAX) has a secure and scalable network. DeFi applications, called decentralized finance as a platform, is a blockchain that provides the necessary infrastructure for the trading of financial assets and the launch of different services. Thus, it provides the opportunity to easily work on a single network without the need to create a new blockchain for those who want to produce their own crypto money, digital asset or blockchain with or without permission. The desired projects can also be developed in subnets in AVAX, which is what makes it different from the classical single blockchain.

Avalanche has more energy efficiency features than Bitcoin or Ethereum, which is an important factor in the high demand for it.

In December 2021, USDC, the second largest stable crypto asset in the crypto world, was integrated into the Avalanche (AVAX) network. With this development, there was a 15% increase in the value of AVAX at that time. In earlier times; Tether (USDT) was integrated into the Avalanche network.

The Avalanche (AVAX) network consists of 3 blockchains. These:

X-Chain: The X-Chain is used to create Digital assets and exchange these assets to generate AVAX tokens. Movements of digital assets in X-Chain are determined by changeable rules.

P-Chain: It is the chain that provides coordination of network validators using the Snowman consensus protocol, monitors active subnets, as well as allows the creation of new subnets.

C-Chain: C-Chain, like P-Chain, allows developers to create smart contracts for DApps using the Snowman protocol.

The AVAX (Avalanche) coin has a consensus of 4 different tiers: Avalanche, Snowflake, Snowball and Slash. When it comes to any decision-making situation, there needs to be a common consensus among them. It was stated that this situation made Avalanche 51% more sheltered.

How to Buy AVAX Coin?

You can easily buy AVAX (Avalanche) Coin for its market value, without requiring any documents or special technical knowledge, by becoming a member of one of the coin trading platforms serving globally.

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