Avalanche (AVAX) is avalanche's core token, used as a fee for transactions on both the main network and the main network. Avalanche token holders can also staking AVAX to help strengthen the network and earn rewards.
Essential details:
- Avalanche is divided into 3 main parts which are Exchange Chain (X-Chain), Contract Chain (C-Chain) and Platform Chain (P-Chain). Subnet Node generation takes place in this chain.
- AVAX Coin is the Native Token and Governance Token of the Avalanche Platform. Its main function is to pay fees or Gas in the Avalanche Chain.
Avalanche Highlights
- Avalanche is recognized as a fast platform, environment-friendly, and highly scalable as it adopts Proof-of-stake consensus algorithm together with having a DAG (Directed Acyclic Graphs) network structure.
Scalability
- In the current day, numerous smart contracts platforms are being continuously developed, with various blockchain networks aiming to solve the array of issues previously found by their predecessor; Ethereum. While Avalanche is also becoming a well-recognized new-generation platform