What is Avalanche?

Avalanche is a blockchain platform capable of general purpose smart contract execution. It is a base layer, or layer 1 (L1), which can connect to sidechains and support layer 2 (L2) solutions. Avalanche calls sidechains and L2s subnets. Avalanche is seen as an alternative to the Ethereum network. These alternatives are often grouped together under the name “alt Layer 1s,” or alt L1s. Avalanche’s network features lower fees and faster transaction speeds than Ethereum’s. The Avalanche blockchain can reportedly process 4,500 transactions per second (depending on the subnet), a significant improvement over Ethereum’s less than 20. Avalanche’s native token is AVAX, which is used to secure the network and pay transaction fees.

Use the multichain Bitcoin.com Wallet to buy, sell, trade, and manage your AVAX. Start experiencing the benefits of Web3 with the world's easiest-to-use self-custody wallet.

Indice de Contenidos

  1. How does Avalanche work?
  2. How can you use Avalanche?
  3. Bridging between Avalanche and Ethereum

How does Avalanche work?

Avalanche uses a unique consensus mechanism built on top of Proof-of-Stake (PoS). Validators are required to stake AVAX in order to confirm transactions on the network. Unlike many PoS-based consensus mechanisms, each Avalanche validator independently verifies a transaction, then randomly samples a small subset of the other validators. Each validator will update its decision if the majority of sampled validators differ. All validators will continue to do this independently until consensus is reached – which usually takes less than 2 seconds.

Avalanche consensus From Avalanche Consensus, The Biggest Breakthrough since Nakamoto

Since validators are doing this independently and using only a very small subset of other validators, the network achieves a higher maximum transactions per second, while also being more decentralized, and scalable. In fact, the network should theoretically become faster as it grows.

How can you use Avalanche?

Anyone can buy, sell, send, receive, and hold $AVAX in the Bitcoin.com Wallet.

Advanced users also have the option to directly interact with Decentralized Apps(DApps) on the Avalanche network (via WalletConnect). DApps on Avalanche enable DeFi use cases like trading, borrowing and lending, prediction markets, crypto derivatives, synthetic assets, NFTs, and more.

Resources:

  • For an up-to-date list of the top decentralized applications on Avalanche, please refer to DAppRadar.
  • To learn how to connect to DApps in the Bitcoin.com Wallet, please see this guide.

Bridging between Avalanche and Ethereum

You can bridge Ethereum cryptoassets to Avalanche’s C-chain using the official Avalanche bridge. Bridging will usually take between 8 and 10 minutes. After that, you can do most things you can do on Ethereum such as swap, borrow/lend, and pool liquidity but with much lower fees and faster transaction times. Whenever you wish, you can bridge back over to the Ethereum mainnet.

¿Te ha servido de ayuda??

Guías relacionadas

Empezar desde aqui →
How do I buy crypto?

Learn how to get your first crypto in minutes.

Lee este artículo →
How do I sell crypto?

Learn how to sell crypto into local currency safely.

Lee este artículo →
How do I send crypto?

Sending crypto is as easy as choosing the amount to send and deciding where it goes.

Lee este artículo →
How do I create a crypto wallet?

Learn how to quickly and easily create a crypto wallet. Understand the different wallet types and their respective pros & cons.

Lee este artículo →
¿Qué es Bitcoin?

Bitcoin se basa en las ideas expuestas en un documento oficial publicado en 2008 titulado Bitcoin: un sistema de dinero en efectivo electrónico Peer-to-Peer.

Lee este artículo →
What is Ethereum?

Understand Ethereum's key characteristics.

Lee este artículo →
What are NFTs?

Learn about NFTs, how they work, examples of prominent NFTs, and much more.

Lee este artículo →
What's decentralized finance?

Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.

Lee este artículo →
What's a DApp?

Understand the basics of Decentralized Applications (DApps) on decentralized networks; their features and their current limitations.

Lee este artículo →
What is a DEX?

A decentralized exchange (DEX) is a type of exchange that specializes in peer-to-peer transactions of cryptocurrencies and digital assets. Unlike centralized exchanges (CEXs), DEXs do not require a trusted third party, or intermediary, to facilitate the exchange of cryptoassets.

Lee este artículo →
Empezar desde aqui →
Comienza a invertir de forma segura a través del monedero de Bitcoin.com
Más de de carteras creadas

Todo lo que necesitas para comprar, vender, operar e invertir en bitcóin y otras criptomonedas de forma segura

Bitcoin.com en tu bandeja de entrada

Un resumen semanal de las noticias importantes, además de recursos educativos y actualizaciones de productos y servicios que promueven la libertad económica