Buy Avalanche (AVAX)
What is Avalanche?
Avalanche is a decentralised platform designed to offer a faster, more secure, and efficient way to process transactions using a unique triple-blockchain architecture. It aims to enhance decentralisation, scalability, and network security through its use of three interconnected blockchains known as the Platform Chain (P-Chain), Contract Chain (C-Chain), and Exchange Chain (X-Chain). AVAX is the native token of the Avalanche platform, serving multiple purposes including staking, transaction fees, and network governance.
How does Avalanche work?
Avalanche operates using a unique triple-blockchain structure consisting of the X-Chain for asset creation and exchanges, the C-Chain for running smart contracts, and the P-Chain for managing validators and custom blockchains (subnets). It employs the Proof of Stake (PoS) consensus mechanism, enhanced by the Snowman Consensus Protocol, which offers high throughput and quick finality, completing transactions in just about one second. The C-Chain's compatibility with the Ethereum Virtual Machine (EVM) allows developers to easily deploy Ethereum smart contracts on Avalanche.
What are the potential use cases for Avalanche?
Avalanche offers a wide range of applications, including:
- Tokenized Real-World Assets: Facilitates the tokenization and trading of assets like real estate and securities.
- Payments and DeFi: Supports rapid, cost-effective payments and various DeFi applications such as decentralized exchanges and lending platforms.
- NFTs and Gaming: Enables efficient trading and issuance of NFTs and supports gaming applications.
- Supply Chain Management: Utilises its high transaction capacity and interoperability for tracking goods and services.
- Enterprise and Government Solutions: Offers customised blockchain solutions through partnerships like that with Amazon Web Services (AWS) and supports private and public sector applications.
What is the history of Avalanche?
Avalanche was founded in 2020 by a team including Emin Gün Sirer, Stephen Buttolph, Amani Moin, and Kevin Sekniqi. The launch introduced 720 million AVAX tokens, with significant partnerships and integrations achieved over time, including with traditional finance firms and large tech companies such as AWS. Notably, in 2023, Avalanche introduced innovations such as Evergreen Subnets and AvaCloud, and formed strategic collaborations with entities from various sectors. The platform continues to enhance its technology and expand its presence in the blockchain ecosystem through continuous development and strategic initiatives.
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Frequently Asked Questions (FAQs)
What is the current price of Avalanche (AVAX)?
The Avalanche price is $59.37 AUD, representing a -3.01% from the day prior.
Where is the best place to buy Avalanche (AVAX) in Australia?
The best place to buy Avalanche (AVAX) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Avalanche (AVAX) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Avalanche (AVAX)?
The trading volume of Avalanche (AVAX) is $665.1M AUD in the last 24hrs, representing a -3.01% from the day prior.
How can I buy Avalanche (AVAX)?
Avalanche (AVAX) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Avalanche (AVAX)?
The current market cap of Avalanche (AVAX) is $24.2B AUD.
Can I convert Avalanche (AVAX) to cash?
Yes - With Coinstash you can convert your Avalanche (AVAX) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Avalanche (AVAX) are there?
The current circulating supply of Avalanche (AVAX) is 409.9M.
Is Coinstash a safe place to buy Avalanche (AVAX) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Avalanche (AVAX) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.