|Volume / Market Cap
Avalanche is currently trading at $15.31, after a price change of -3.74% in the last 24 hours.
Ranked as cryptocurrency #17 by capitalization today, AVAX market cap is valued at $4,770,408,610. AVAX trading volume reached $1,011,907,641 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on AVAX coin price prediction page.
What is Avalanche?
Avalanche is a cryptocurrency that facilitates the building of custom blockchain networks and decentralized apps. The basics of this protocol were initially introduced in 2018 by a group of crypto enthusiasts. Later, it was developed by a research team headed by Emin Gun Sirer. AVAX is the crypto coin that powers this network.
Compared to Ethereum, it is much cheaper to deploy smart contracts using this protocol. Avalanche Virtual Machines make it possible for creators to build blockchains and include numerous features. Thanks to the Avalanche Bridge, it is relatively easy to shift instruments from one blockchain to another.
This blockchain is based on a proof of stake protocol with some added functionalities. There is a voting system where several authenticators share data to authenticate transactions and finalize decisions. Irrespective of the number of nodes, it takes a specified time period for concord to be reached. The authenticators are chosen on the basis of the staking status. This drastically enhances the operation speed.
Soon after purchasing an AVAX token, you can take part in the network to authenticate the deals.