How well do you know Avalanche?
Come on, let’s see what this unique project has done.
Avalanche coin, which has been in use since September 2020, was developed by Ava Labs. When you look at what Avalanche is, you can see that it is a scalable and secure network. Avalanche coin has a consensus structure, and there are four different phases: Slash, Snowflake, Snowball and Avalanche. Consensus is required for a decision to be made. In this way, it is stated that Avalanche is 51% more protected. When it comes to coin or crypto money, mining usually comes to mind first. However, Avalanche does not have the ability to mine like cryptocurrencies. With this currency, it is possible to easily create a blockchain network with secure and powerful applications and a complex rule sets. All operations with this take a maximum of three seconds. Compared to Ethereum, this time can be up to six minutes in ten.
According to the statements made by experts, Avalanche has more energy efficiency compared to Ethereum or Bitcoin. This situation increases the demand for crypto money even more. The Avalanche network is secured with the AVAX coin used, and this token is used to create new networks on the platform.
What’s going on in the Avalanche network?
Core Wallet;
Core Wallet, released by Ava labs recently, now supports all Ethereum and EVM (Ethereum Virtual Machine) compatible blockchains, along with the Bitcoin blockchain.In addition, Core wallets have access to Avalanche subnets.
Core with this step; It sets a new standard for the ecosystem in the simultaneous use of multiple blockchains. With the last update of Core; succeeded in facilitating the control of cross-chain assets. It’s easy to switch between apps and networks with a single action over Core. The fact that users can gain more control over their assets and transactions will undoubtedly benefit the Web3 ecosystem as well.
And here are some of its features;
- Compatibility with Ethereum,
- Compatibility with Customized Subnets,
- Fast Transition Features.
Defi;
The Avalanche platform continues to grow with DeFi projects. One of the main reasons that increased Avalanche’s popularity was the DeFi incentive program called Avalanche Rush. Without a doubt, the Avalanche DeFi Ecosystem seems to be on the verge of an explosion. There are hundreds of projects built on Avalanche. We all know from Polygon’s success story how incentive programs encourage developers to build projects on the platform and attract more users. If we look at the main DEfi s in the Avalanche ecosystem; BenQi, Trader Joe, Pangolin, YieldYak, Snowball… they are at the top of the most popular fashion shows.
NFT;
There are dozens of Nfts built on Avalanche and dozens of platforms where you can market these Nfts. The latest partnership with OpenSea has made a great deal to market NFTs on avalanche.
Games;
Again, there are dozens of games built on Avalanche and a new one is added almost every day. These games, which are presented to the Avalanche community, benefit from the strong infrastructure and technologies of the ecosystem, and continue to earn their users.
I tried to summarize for you briefly what you need to know about Avalanche. I hope you like :)
References;
https://www.altcoinbuzz.io/cryptocurrency-news/spotlight/top-5-projects-on-avalanche-defi-ecosystem/,
