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Avalanche (AVAX) Fact Sheet
- Avalanche is an open-source, programmable smart contracts platform for decentralized applications focusing on enterprise solutions, interoperability, and scalability.
- The Avalanche network offers fast transactions per second (TPS). It enables millions of independent validators to participate as the full block producers, facilitated by its unique architecture.
- AVAX is the native cryptocurrency used across the Avalanche ecosystem. It is utilized as a peer-to-peer (P2P) transfer of value for staking and securing the network, payment for the operations, computation, storage, and creation of new blockchains and subnetworks.
- Avalanche utilizes four consensus mechanisms to enable its high speed and throughput, including Slush, Snowflake, Snowball, and Avalanche.
- Ava Labs is a research and development company developing the Avalanche platform and AVAX cryptocurrency. Ava Labs is based in Brooklyn, New York, and is headed by Cornell professor CEO Emin Gün Sirer.
AVAX Historical Data Price Chart in the U.S. Dollars (USD)
Avalanche (AVAX) Historical Data Price Chart in the U.S. Dollars (USD). Source: TradingView
What is Avalanche (AVAX)?
Avalanche (AVAX) is a blockchain developed to power a new generation of blockchain smart contracts and is aimed at rivaling other blockchains such as Ethereum (ETH).
However, Avalanche stands out because its primary mission is to solve many of the scalability issues found in competing blockchain networks, such as the high fees, slow transaction times, and even network congestion.
Avalanche as a network supports smart contracts and is a Proof-of-Stake (PoS) based blockchain network.
The network has a theoretical network thro