Avalanche: Simply Explained
The Avalanche blockchain (AVAX) was launched in September of 2020. It is a partial fork off Ethereum, much like the Binance Smart Chain, which basically means they used the Ethereum framework to base their coin on. Avalanche’s vision is to provide a scalable solutions for fast transactions. In fact, the Avalanche Consensus Protocol can process 4,500 transactions per second. Compare that to Ethereum, who can only process 14 transactions per second.
The protocol struggled with trust issues recently when a major DAO (Wonderland), which operated on the Avalanche blockchain, rugpulled millions from investors. This was a large controversy when it discovered Wonderland’s treasury officer was a known criminal. The protocol was able to recover quite quickly from the scandal.
Many projects are sprouting up on the Avalanche blockchain recently, including the formidable node project, Project X.
Do you have any investments on the Avalanche blockchain?
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