Beginner's Guide to Avalanche

What is Avalanche?

• Avalanche is another Ethereum rival - its platform makes it possible to build decentralised blockchains and applications.

• Avalanche hopes to reach Visa-level throughput with transaction times of less than a second!

Who are the founders of Avalanche?

• Emin Gun Sirer, who previously taught at Cormell University and holds a doctorate in computer science, founded Avalanche in 2018.

  • In 2018, Emin established the Ava labs Avalanche team.

  • Emin is of Turkish descent, and Avalanche is the only cryptocurrency present in Turkey. As a result of the devaluation of the Turkish lira, a significant number of people are adopting cryptocurrencies.

• President John Wu

  • Wu was CEO of Digital Assets Group, a leading cryptocurrency technology company that provides trustworthy products and management advisory services to individuals in the developing digital asset industry.

• CFO Chris Lavry

  • He was Executive Vice President at Blockchain.com, a leading platform for crypto assets with more than 42 million users and more than $70 billion in transaction volume.

• COO Kevin Sekniqi

  • He worked at Microsoft as a researcher and software engineer.

In comparison to other blockchain ecosystems, what sets Avalanche apart?

• Speed

  • Avalanche is the fastest platform for smart contracts.

  • It can complete transactions in less than a second when it reaches finality!

• Solidity, which is the programming language used by Ethereum, is compatible with Avalanche.

  • As a result, developers who are familiar with Ethereum can easily utilize the Avalanche blockchain.

• Ethereum bridge

  • A bridge has been constructed that makes it simple for Ethereum projects to switch to Avalanche.

• Scalability

  • Validator nodes communicate with each other about network transactions and Avalanche can process up to 4500 transactions per second.

  • Validators can agree on the network in one second and process 4500 transactions per second due to the speed at which gossiped information can spread.

What are Avalanche's primary objectives?

• DeFi

  • Given that DeFi on Avalanche is fully compatible with Ethereum assets and offers faster speeds, increased throughput, and lower fees, why wouldn't an Ethereum project switch to Avalanche?

• Institutions and governments

  • The CEO of Avalanche, Roche Cyrulnik Freedman LLP, and Republic Advisory Services have joined forces to bring litigation financing, a multibillion-dollar asset class, to retail on the Avalanche blockchain.

  • According to him, the primary objective is to provide a platform for the tokenization of assets on the blockchain.

• Central Banks

  • According to the CEO of Avalanche, the company is collaborating with a dozen different central banks to make it easier to use digital currencies issued by those institutions.

• NFTs

  • Avalanche makes it possible to run smart contracts from any blockchain, which is great news for the NFT market.

  • NFTs on the Ethereum blockchain and other blockchains can coexist without having to worry about high fees, high throughput, and, as a result, slow transactions.

  • A game will be able to accept NFTs from Ethereum, Solana, and other cryptocurrencies on the Avalanche blockchain.