What is so good about AVAX? It currently has far greater scalability than competitors such as Ethereum. It is able to achieve 4,500 transactions per second (TPS) in comparison to Ethereum which currently achieves 13 TPS.
Web3 opens opportunities for people around the world to build and create their own future! Can’t wait to see what you build next on Avalanche.
There is a video on what is Avalanche Network and it is explained with animations. The video points to how Avalanche does not have advertising material except for lengthy documentation and nerdy white papers. The video from White Board crypto is worth watching for those who are just beginning to understand Avalanche Network. The video helps clarify why the AVAX token recently went from $16 to $55 in just 2 weeks.
Avalanche has a unique proprietary consensus model. The video talks about the practical Byzantine fault, Nakamoto era of consensus, PoW, Avalanche Consensus Model and more.
The video also talks about X-chain meant for creation, management and transaction of tokens on the network – based on DAG a unique kind of consensus model.
The C-chain is specifically for smart contracts. It is exactly an exact copy of the Ethereum Virtual Machine. Thus, you will be able to instantly copy and paste and start using Ethereum Dapps on the Avalanche Network. They have been very smart with this in the process allowing developers to move their projects over without doing much work. This chain also makes use of the snowman Protocol.
Thus, the Avalanche has X-chain for transactions, C-chain for smart contracts, and the P-chain platform chain, and it is specifically for the management of the subnets. It also coordinates all the validator nodes and the staking mechanism.
Then there are subnets. Each subnet is a new network in the Avalanche Ecosystem. This system is scalable in so many ways. Each subnet can have multiple block chains just like the primary avalanche network.
Community response: Not a surprise at all, the charm of Avalanche at least for me is how optimized for building it is, fresh and rich soil for amazing projects to be planted on and bloom with efficiency and unlimited possibilities. Because Avalanche is the king.
Pretty much everything in crypto is following Amara’s law Bitcoin, Ether, Solana, Avalanche, NFTs, DAOs, etc. New paradigms are consistently overestimated in short run and underestimated in the long run.
For clarity, Amara’s Law refers to the various forms of which have been around since the early twentieth century. It is relevant for investors wanting to capture the benefits of technological change:
“We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.”
Regarding the video on Avalanche, hardly any promotional material is a relative statement. That rush campaign got a lot holding underwater. Yes, obviously it will come back. But still. I am holding my breath.
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