So, $AVAX, Avalanche native token is defying the difficult market conditions in the past few days. More so, it is enjoying bullish price action due to the introduction of Circle’s stablecoin USD Coin ($USDC) on the platform.
So, there’s a brief description of Avax its developer,
“Avalanche is an open-source platform for launching decentralized applications…”
“and enterprise blockchain deployments in one interoperable, highly scalable ecosystem…”
Meanwhile, “Avalanche is the first decentralized smart contracts platform built for the scale of global finance,..”
“with near-instant transaction finality. Ethereum developers can quickly build on…”
“Avalanche as Solidity works out-of-the-box.”
“A key difference between Avalanche and other decentralized networks is the consensus protocol…”
Also, “Over time, people have come to a false understanding that blockchains have to be slow and not scalable…”
More so, “The Avalanche protocol employs a novel approach to consensus to achieve its strong…”
“safety guarantees, quick finality, and high-throughput without compromising decentralization.”
So, Brief description of Avalanche continues,
Then, “AVAX is the native token of Avalanche. It’s a hard-capped, scarce asset that is used to pay for fees,…”
“secure the platform through staking, and provide a basic unit of account between the…”
“multiple subnets created on Avalanche. 1 nAVAX is equal to 0.000000001 AVAX.“
Additionally, it’s under the development of Ava Labs, a blockchain startup from Brooklyn, New York in 2018 by Professor Emin Gün Sirer (CEO). Of course, he does computer science research at Cornell University, Kevin Sekniqi (COO), and Ted Yin (Chief Protocol Architect).
Lastly, on Tuesday Dec 14, FinTech firm Circle, the principal operator of USD Coin ($USDC), announces
“native support for USDC on the Avalanche public blockchain- an eco-friendly,…”
So, “decentralized smart contracts platform empowering the next generation…”
“of Decentralized Finance (DeFi) with low fees and near-instant finality.”
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