As the day goes by, Crypto and blockchain equally takes a step forward to revolutionizing the world to a better status. In recent times we've all sensed the few struggles we may encounter but also tend to overlook them, and it kept soaring to new heights while we slacked ignoring it.
Good project - costly invest : grand flaw in the system.
DeFi looks to change the world but Ethereum supposingly being the king of DeFi battles it's flaws as fees aren't user friendly at all. For the past weeks Ethereum has been at "hit" pumping with great support limit, but that wasn't the only shit, the downside of Ethereum's green days is having to anticipate high charges upon its network transactions, and this is what needs a restructure, it is currently only slightly above $1500 with a hefty 15 dollars gas input as Bill, that's not the fees we can handle on a ×30 correction.
I recently logged in on Twitter and bumped into a tweet debating on this topic, about 5 out of 10 engaging the conversation recommended Avax as an alternative invest project, and a 100% supported the need for Ethereum restructure on gas fees. I couldn't waste anymore time flecting ignorantly on Avex so I dashed to my search engine and to be honest, I wasn't in any way disappointed and the hype was worth it I'd say.
Scarcity - Utility - Cheapness
A token first has to have a good use case, it's Utilization and prime function goes a long way in promoting its stand and adding value to its existence amongst pairs. Avalanche is an open-source platform for launching highly decentralized applications, new financial primitives, new interoperable blockchains, with a highly scalable ecosystem. Avalanche is actually the first smart contracts platform that confirms transactions in under one second - speed of light design, it supports the network format of the Ethereum development toolkit and enables millions of independent validators to participate as full block producers. The test net was reported to have had over 1,000 full, block-producing nodes, breaking a world record…
Unlike the Bitcoin block design which became stiff for magnitudinous transactions, Avalanche is well capable of under - taking over 4,500 transactions/second with a safe threshold well-above the 51% standards of other networks. Since launching its mainnet on September 21, Avalanche was reported to have gained over 650 full, block-producing validators participating in network consensus, and an additional 2,500 delegators participating in staking, figures would probably be higher at the moment as this report was published last year. The launch was backed by the $60 million in funding, $45 million of which came from a July 2020 public token sale and private sale led by Mike Novogratz’s Galaxy Digital, Bitmain and Initialized Capital.
Avax Token And Utility
The Avalanche (AVAX) token is the native token of the Avalanche platform and it is used to secure the network through staking, paying for fees and providing a basic unit of account between the multiple subnetworks created on the Avalanche platform. Avalanche is a fixed cap asset, with a max of 720M AVAX which makes it similar to Bitcoin, its limited supply and token burning rate makes the crypto scarce and virtually valuable.
As seen above on the pie chart, Avax has 50% token supply locked up for staking rewards, 360 Million AVAX were minted at launch, and the other 360 Million are being used as Staking rewards released over decades. Avax aims at hitting great utility, based from reducing token availability, thereby increasing demand and building Avax to becoming a store of value. Burning of AVAX tokens Is one and another approach,
fees for all sorts of operations on the network are paid out in AVAX, and then These tokens are all ( due governance support) burnt, reducing the supply, and increasing the scarcity of AVAX adding value on asset for all token holders.
While, all that said are blurts in expensive vocabularies giving credits and praises To Avax, the currency current price value, chart correction and demand moving since December 31.2020 which recorded its all time low of $2.80, Avax price from then have been appreciative and showing a proof-of-value case for the token as it rose over 400% gradually since then.
I'll let the chart speak for itself, Avax has seen a rather healthy buy orders with a price bottom low of about $14, in 24hrs, we have been keeping an eye out on the recent days for projects that could just kill the show in the long run, and I honestly don't know about anyone else but I think we've got ourselves a competition, maybe just maybe, of all stated in this piece, Avax might just have what it takes to create revolutionary and historical set-ins for the crypto-space.
Low Cost And Reliability Rings The Bell
Thank You For Yet again, Reading Another Content From Me. I hope it sunk, digested and enjoyed. Got any contributions? Argument? Or maybe spotted some flaws in this one? Please do share via comments below, I totally appreciate your Attention.
Keep Kinging
