Education • 3 min read
By Aron Abraham
Avalanche (AVAX) has been on many investors’ radars recently, and for good reason: when it comes to smart contracts, this platform is among the most cutting-edge. AVAX, the network’s crypto token, is also a speedy mover. In this article, we’ll list all you need to know about Avalanche.
Smart contracts with the power of an Avalanche - meet the platform that not only lets you launch DApps, but which also allows you to deploy your very own blockchain within minutes. AVAX, the network’s crypto token, is also a speedy mover. Here’s all you need to know about Avalanche.
The name Avalanche actually perfectly describes the network itself: it’s fast, unstoppable, and covers pretty much everything on its way. In short, Avalanche is an open, programmable smart contract platform for decentralised applications (DApps). Also, you can build your own blockchain easier than on other platforms, customise it precisely to your needs and interconnect it with the elements of the Avalanche Ecosystem.
Being the best at something is usually a good sign, and Avalanche comes in Number One in two categories at the same time. According to their official website:
“Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol.”
Time to finality simply indicates the time required for processing a transaction - the shorter this time, the faster the network. Proof of Stake is the consensus algorithm that secures the blockchain. Validators need to stake their crypto tokens - in this case, AVAX - and confirm transactions using their hardware which, in Avalanche’s case, can even be regular smartphones or computers.
When you hear about smart contracts and DApps, you are probably immediately thinking of the crypto-giant Ethereum. But how does Avalanche, a relatively young network, compare to the second biggest blockchain? Let’s take a look.
While it is true that there’s no need to dive into academic papers to see if you should invest, familiarising yourself with the crypto you want to invest in and doing your research is vital. Here are 4 simple steps you can start with:
At Bitpanda, you can buy Avalanche (AVAX) with just a few clicks on your phone or computer. Our easy-to-use interface makes investing in crypto and other digital assets a walk in the park. All you need to do is to register and verify on Bitpanda and you can start right away.
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