Avalanche (AVAX)
- Official Website: avax.network
- Definition: Avalanche is a high-performance blockchain platform for decentralized apps and custom blockchain networks.
- Category: Blockchain, Layer 1 chain, Cryptocurrency.
- What It Is: A scalable, fast, and energy-efficient blockchain supporting smart contracts and dApps.
- Function: Enables fast, low-cost transactions and custom blockchain creation.
- Analogy: Think of Avalanche as a highway with multiple lanes. It’s fast and can handle a lot of traffic (transactions).
- Pros: High throughput, low fees, eco-friendly.
- Cons: Competition from other Layer 1 chains, smaller ecosystem.
- Controversies: Centralization concerns, token distribution criticism.
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This page was last updated on January 28, 2025.
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