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Avalanche

Avalanche (AVAX) is a token powering Avalanche platform, which supports smart contracts and allows blockchain developers to build DeFi apps on top of the network. Avalanche was made by Ava Labs, headed by a team of Bitcoin early adopters and computer scientists.

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What Is Avalanche?

Avalanche (AVAX) is a token powering Avalanche platform, which supports smart contracts and allows blockchain developers to build DeFi apps on top of the network. Avalanche was made by Ava Labs, headed by a team of Bitcoin early adopters and computer scientists.

Avalanche is a crypto project standing on the shoulders of giants: it combines important features from both Bitcoin and Ethereum. For example, AVAX token supply has a hard cap, transactions are written on the blockchain as UTXO, and there’s SegWit support — just like on the Bitcoin network. On the other hand, Avalanche’s main purpose is smart contract execution, which is the area dominated by Ethereum.

Avalanche’s advantage compared to both Bitcoin and Ethereum is a unique BFT consensus protocol. It facilitates transaction finalization times of less than a second, with the network throughput of 4,500+ transactions per second. This is an obvious step forward in solving the scalability problem plaguing the crypto giants. It's also why Avalanche has already attracted many dApp developers who are building their applications on the network.

AVAX token is used by validators to secure the network by staking; their rewards are also paid out in AVAX. It also serves as a currency and as a main account unit within the Avalanche ecosystem, utilizing atomic swaps.

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