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How to play AVAX Coin (Avalanche Coin)? Prices, trends and trading methods
What is AVAX?
AVAX is the native cryptocurrency of the Avalanche blockchain platform and is used to pay transaction fees, rewards, and as part of a stake to maintain the security of the network. Launched in 2020, Avalanche uses a new consensus mechanism—the Avalanche Protocol to provide a fast, scalable web environment to support decentralized applications (dApps) and decentralized financial services (DeFi).
What is the Avalanche Avalanche Protocol?
The Avalanche Avalanche Protocol collaborates on three links: the transaction chain (X Chain), Platform Chain (P Chain), Contract Chain (C Chain), to create a scalable and interoperable blockchain that achieves the security, speed, and combinable virtual currency trading network of a shared host network.
Transaction Chain (X Chain): Used to create, manage and trade assets
Platform Chain (P Chain): Used for staking, that is, locking a certain number of cryptocurrencies to help protect and support the operation of the blockchain network. Also, coordinate validators and create subnets.
Contract Chain (C Chain): Develop and establish smart contracts
What is scalability?
Scalability is about enabling blockchain to carry high traffic without sacrificing decentralization. The Avalanche Protocol uses three chains to dramatically increase transaction throughput, shaping efficient and fast processing capabilities to support up to 4,500 transactions per second.
What is interoperability?
Interoperability refers to the ability to meet different needs. Avalanche agreements enable collaboration between different regional chains for more comprehensive financial services.
How does the Avalanche Protocol work?
WHY IS THE AVALANCHE AGREEMENT CALLED THE AVALANCHE AGREEMENT? BECAUSE THE MECHANISM IS LIKE AN AVALANCHE, THE VALIDATION NODES BECOME MORE SNOWBALLLIKE AFTER START-UP AND SNAP INTO ONE LOOP, CONSTANTLY EVOLVING FORWARD, AND THE SITUATION LOOKS LIKE A TREE DIAGRAM.
The DAG plays an important role in explaining the operation of avalanche protocols. The protocol can be applied in different scenarios, each application scenario can have a different path and can also be connected to other application scenarios, but it ensures that no path once authenticated is duplicated, no one node can form a loop with the other nodes, it can only evolve forward, and snowlike Extremely high speed trading speed with crashing downwards. The above features give the Avalanche protocol great advantages in interoperability, scalability and high-speed transactions. Simply put, the Avalanche Protocol is a “never going back” system.
AVAX Advantage
Avalanche's Avalanche protocol differs from the traditional Proof of Work or Proof of Stake mechanism. Its unique consensus mechanism enables transactions to be quickly confirmed and assured of message accuracy through multiple mutual validation between random sampling and subnetworks. Compared to the traditional Ethereum and Bitcoin networks, Avalanche has the following advantages
Avalanche | Ether (Ethereum) | Bitcoin (Bitcoin) | Polkadot | |
Consensus mechanism | PoS | PoS | PoW | PoS |
Transaction throughput | 4,500+ Transactions/sec | More than 14 transactions per second | 7 transactions per second | 1,500 transactions/sec |
Transaction Speed | Less than 2 seconds | Approx. 6 minutes | 60 minutes | 60 seconds |
Safety thresholds | 80% | 51% | 51% | 33% |
Energy efficiency | High; CPU (CPU) | Low; Graphics Processor (GPU) | Low; Application Specific Integrated Circuits (ASICs) | High; CPU (CPU) |
Number of validators | 1000+ nodes | 2 Mine Pools/ > 51% Sharpness | 3 Mine Pools/ > 51% Sharpness | 500 nodes* |
Source: zombit Data as of: 7 Nov 2023 * Data source: panewslab data as of: November 2024 | ||||
AVAX Market Performance
AVAX Coin Price Trends
Looking for the right investment decisions for the time being? Futu offers AVAX/USD quotation function, allowing you to see price trends at any time and adjust your investment strategy at any time.
AVAX Coin News
How AVAX will perform in the future
With the growing demand for regional chain use and widespread use, the prospects for AVAX remain promising for the future. The following are three development potentials for AVAX:
1. Increase in Decentralized Finance (DeFi) projects
Currently, Avalanche has several DeFi projects in development, including trading, staking, wallets, lending, NFT trading platforms, and more. In line with market trends, the increased demand for DeFi projects also continues to expand the importance of AVAX.
2. Strong Competitiveness
Compared to Ethereum (Ethereum), which currently has the largest regional chain on the market, Avalanche has significant advantages in transaction speed and Miner Fee. This is very attractive to users and developers, making Avalanche's competitiveness in the market unmissable.
3. Partnerships with Deloitte
Avalanche's partnership with Deloitte, one of the four largest accounting firms, opens up new development opportunities. By providing customized blockchain solutions to Deloitte clients, Avalanche demonstrates the potential of technology to develop proprietary chains for different businesses.
How to trade AVAX (Avalanche Coin) in Hong Kong
If you want to buy or invest in Avalanche Coin (AVAX) safely, you need a licensed and reliable trading platform.
Here's how to follow the steps of Futubull Crypto:
After opening an account, activate the Crypto trading function, go to the [Accounts] page, click on [Cash Comprehensive Account], and open [Account Management] in [More], [Activate Trade Varieties] in [More], and select [Cryptocurrencies] in [Unactivated].
Before starting a cryptocurrency account, a “virtual asset risk assessment, virtual asset holding limit assessment, virtual asset knowledge test”, and identity verification are required. After submitting the application, start up in about 5 minutes and a successful launch will receive a system message and message.
Before trading cryptocurrency, please allow time to deposit funds into your cryptocurrency account. Go to the [Accounts] page, click on [Cash Integrated Account - Cryptocurrency], select [Funds Transfer] or [Deposit Funds], then select the settlement currency type and enter the amount to trade after your account.
Go to [Markets] - [Cryptocurrencies], select the currency you offer to trade, click “Trade” in the lower left corner and you can start trading. （How to Trade Cryptocurrencies on Futubull)
