Avalanche Price（AVAX）

24h Low & High

What Is Avalanche (AVAX)?

Avalanche (AVAX) is the native token of the Avalanche blockchain network, which launched in 2020. The network uses a proof-of-stake consensus algorithm called the Snowman Consensus Protocol to validate transactions. Designed to be fast, scalable, secure, and open-source, Avalanche enables developers to build and deploy decentralized applications efficiently. Its focus on speed and versatility sets it apart as a strong competitor to older platforms like Ethereum.

Avalanche History: From Inception to Growth

Avalanche was created by a team of developers in 2020, including Stephen Buttolph, Amani Moin, Kevin Sekniqi, and Emin Gün Sirer. Avalanche is intended to serve as a payment system and as a platform for creating decentralized applications.

The native token, AVAX, is capped at 720 million and is used for transaction fees, which are burned to reduce the supply and increase scarcity.

On Sept. 19, 2024, the total circulating supply of AVAX was 405.93 million. Its market cap was $10.67 billion, and its 24-hour trading volume was $478.71 million.

Understanding Avalanche’s Network Architecture

Avalanche calls itself a “network of networks” with three blockchains managing different functions:

• The Platform Chain (P-Chain): The chain that coordinates validators, manages the network’s staking mechanism, and allows users to create new L1s, which are groups of validators that work to achieve consensus.
• The Contract Chain (C-Chain): The chain that runs smart contracts.
• The Exchange Chain (X-Chain): The chain that allows users to create new assets and facilitates asset exchanges and cross-chain transfers.

How to buy Avalanche (AVAX)?

The easiest way to buy Avalanche (AVAX) is through a crypto exchange like BTCC. BTCC makes purchasing Bitcoin easy and accessible whether you use fiat currency or crypto. Trusted by over 9.1 million investors across 100 countries, BTCC is dedicated to offering excellent crypto trading service for all trades. If you’re ready to dive in and make your first Avalanche (AVAX) purchase, register with BTCC today.