Developed by Ava Labs and by Prof Dr. The Avalanche coin, the crypto currency of the Avalanche network, founded by Emin Gün Sirer, achieved one of the most striking value gains of 2021.
AVAX (Avalanche) was first released by Ava Labs in 2018. AVAX (Avalanche), the first smart contracts network with the power to finalize transactions in less than a second as standard, aims to be the primary choice of those who want to make financial transactions decentralized using smart contracts and other new generation blockchain technologies.
The Avalanche network was created to provide a secure, practical and scalable structure for decentralized financial assets, financial applications, cryptocurrency trading platforms and services. According to the information on the site, developers can easily create powerful, reliable applications and custom blockchain networks with complex rule sets on Avalanche.
Transactions on Avalanche can be completed in less than 3 seconds. In terms of comparison, this time reaches an average of 6 minutes in Ethereum. Also, Ava Labs states that Avalanche is much more energy efficient than Bitcoin and Ethereum.
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