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.
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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.
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.
Avalanche’s fundamentals were first shared on Interplanetary File System (IPFS) in May 2018 by a pseudonymous group. A group of researchers at Cornell University developed the protocol, led by computer science professor Emin Gün Sirer, and doctoral students Maofan Yin and Kevin Sekniqi. Their research was converted into a startup company to develop the research into a blockchain network. In September, 2020, the company also issued its native token AVAX.
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.
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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.
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Биткоин основан на идеях, изложенных в документе 2008 года, озаглавленном Bitcoin: A Peer-to-Peer Electronic Cash System («Биткоин: одноранговая система электронных денег»)
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Sending crypto is as easy as choosing the amount to send and deciding where it goes.
Learn how to quickly and easily create a crypto wallet. Understand the different wallet types and their respective pros & cons.
Биткоин основан на идеях, изложенных в документе 2008 года, озаглавленном Bitcoin: A Peer-to-Peer Electronic Cash System («Биткоин: одноранговая система электронных денег»)
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Learn about NFTs, how they work, examples of prominent NFTs, and much more.
Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.
Understand the basics of Decentralized Applications (DApps) on decentralized networks; their features and their current limitations.
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.
Еженедельное краткое изложение важных новостей, а также образовательные ресурсы и новости продуктов и услуг, поддерживающих экономическую свободу.