Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.
Note: this cryptocurrency is not available for withdrawal to external crypto wallets. It can be bought, held, and sold on Uphold.
Founded by Ava Labs, Avalanche is said to be one of the fastest smart contract platforms in the blockchain industry. It’s focused on decentralized applications (dApps).
AVAX is the network's native asset. It pays fees and secures, via staking, the platform while serving as a basic unit of account among the Avalanche ecosystem's sub-realms.
A rival to Ethereum, and one that is gaining momentum, Avalanche has positioned itself as a speed merchant able process up to 6,500 transactions per second.
Ava Labs co-founder, Emin Gün Sirer, is known as a reputable cryptographic research veteran, bent on solving scalability issues confronting Ethereum and several other smart contract platforms.
In early November 2021, the project created a $200 million fund to incentivize developers to build on the network.
Avalanche is also divided into three "interoperable" blockchains: The Exchange Chain (X-Chain); The Contract Chain (C-Chain); and The Platform Chain (P-Chain).
The X-Chain functions as a source of creation and distribution of the native AVAX token; it's similar to the Ethereum ERC-20 standard.
The C-Chain is tasked with hosting smart contracts and dApps using its own Avalanche Virtual Machine, (similar to the Ethereum Virtual Machine).
Finally, the P-Chain acts as a sole coordinator of network validators. It also tracks and enables active subnets.
The Avalanche network essentially builds upon pre-existing smart contract technology to provide users with a range of potentially more efficient capabilities.
The Avalanche Bridge (AB) allows blockchain users to transfer Avalanche and Ethereum assets between blockchains.
Other blockchain applications and their native tokens have also migrated onto the AVAX Layer One system, with the likes of Curve Finance, Tether, Chainlink and AAVE bringing significant liquidity.
As AVAX continues to aggressively attract other projects into its ecosystem, the blockchain prepares to enter what it's calling "Phase 2" of its plan to build out its network capabilities, with new projects preparing to launch in early 2022.
How to buy Avalanche (AVAX)
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