Avalanche is a blockchain with smart contract functionality that emphasizes transaction speed, low cryptocurrency transfer fees, and eco-responsibility. Its developers describe it as the most scalable blockchain at the moment. AVAX is its native cryptocurrency.
Avalanche course (AVAX): what is the current price?
Here is Avalanche’s live course. See the article: Crypto Algorand (ALGO): Should You Buy ALGO? Opinion, analysis and prediction 2022.
The essentials to know about Avalanche
Founded in 2019 by Dr. Emin Gun Sirer, Avalanche aims to be the fastest blockchain. On the same subject : 3 promising cryptocurrencies to invest in 2022: Polygon (MATIC), Decentraland (MANA) & Hedera (HBAR). The cryptocurrency was launched by the Ava Labs team in 2020 and quickly rose through the CoinMarketCap rankings to the Top 10.
Avalanche’s total value locked in protocol (TVL) is also on the rise, and DApps on Avalanche are valued at over $3 billion. Avalanche is a true competitor to Ethereum and boasts an enthusiastic community.
How does Avalanche work?
The main innovation of Avalanche is that it is made up of three blockchains instead of one. The reasoning behind this architectural decision is brilliant: rather than having a single chain to manage everything, each blockchain focuses on a certain purpose within the Avalanche ecosystem.
The Avalanche platform therefore ensures decentralization, security and scalability by distributing tasks over several chains. Read also: Crypto The Sandbox (SAND): Should You Buy SAND? Opinion, analysis and prediction 2022.
The exchange chain (X-Chain): creates the assets on Avalanche and manages their transactions in the network.
Smart Contract Chain (C-Chain): Allows developers to launch DApps on Avalanche.
The platform chain (P-Chain): allows developers to launch child blockchains on Avalanche. It is this chain that gives Avalanche its scalability.
Crypto AVAX: our opinion and prediction for 2022
It is unanimously considered that Avalache is a good project capable of dethroning Ethereum in the long term thanks to its low fees and scalability.
AVAX experienced high volatility in 2021. This volatility continues to a lesser extent.
The retracement from November 2021 allowed the crypto AVAX to drop to attractive levels to buy.
Long Term AVAX Price Prediction
Avalanche has the same growth potential as Ethereum. The AVAX/USD price target of $1500 is quite realistic.
Avalanche is a relevant DApp project and a much cheaper alternative to Ethereum.
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