What is Avalanche (AVAX)? All about AVAX Coin

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Avalanche is one of the top ecosystems at the moment and the total value locked volume is up to $18b. This number was achieved in just a short period of 5 months. How did the Avalanche network begin — and should you invest in it? Below, we discuss the Avalanche Foundation and AVAX in detail.

What is Avalanche?

Avalanche is a revolutionary blockchain that is created to build and scale decentralized applications (dApps). The project seeks to unseat Ethereum as the most widely utilized smart contract in blockchain ecosystems, with features that include easier access for all users of any level of experience.

The aim of this project is to be a global asset exchange where anyone can launch or trade any form of asset, and control them using smart contracts. The developers have been working hard on cutting-edge technologies to deliver a fast, low transaction fee and scalable network.

How does Avalanche work?

Avalanche aims at solving all your problems by creating an easy way between networks which would help launch new forms of asset value based on interconnected sub-networks (subnet) depending what are the purposes of use.

Network Architecture

The primary network consists of 3 built-in separate blockchains:

  • Exchange (X) Chain.
  • Platform (P) Chain.
  • Contract (C ) Chain.
Avalanche consists of 3 chains: X, P and C

With individual subnets verifying multiple blockchains, it is possible for a single validator node to be part of many different networks. The key aspect of Avalanche’s system design includes the ability to create chains that maintain certain properties such as requiring compliance with regulatory standards in order for them all to work together seamlessly.

Avalanche Consensus

Avalance does not depend on traditional consensus such as Proof-of-Work, instead, the platform uses a proprietary Virtual Machine where all nodes can be processed and validated by Directed Acyclic Graphs (DAG).

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By processing transactions in parallel, DAGs allow more thorough validation of information. Validators randomly poll other validators to determine whether a new transaction is valid and after repetition subsampling with high frequency, it becomes nearly impossible to receive false information which makes the platform more secured.


Snowman is a new consensus protocol that builds on the Avalanche consensus. This order in which transactions are processed benefits smart contracts, as it makes their execution easier with less chance of them getting stuck or lost.

Avalanche’s consensus offers advanced features to users

With all unique built-in features in their blockchain, Avalanche is able to offer:

  • Interoperable: The platform was designed with excellent decentralization in mind. This feature enables multiple client implementations across the network without any centralized control and avoids disagreements among users of different interests or motives.
  • Speed: Avalanche’s transaction processing speed is in seconds.
  • Scalability: Avalanche is capable of handling thousands of transactions per second and can accommodate thousands of validators without sacrificing performance.
  • Security: Avalanche ensures confidentiality and safety.
  • Easy Access to the network: Avalanche makes it easy to create and trade digital assets on complex terms. Anyone can use, trade or even create their own blockchain on Avalanche.
  • Decentralization: Avalanche Blockchain was designed to provide an infrastructure that is flexible and interoperable for globally interconnected networks.

What is AVAX Coin?

AVAX is the native token of the Avalanche network. The token has the following functions:

  • Staking: Users can stake AVAX to become a validator of the network to earn up to 11% annual profit. 2000 AVAXs are required to become a validator of the network.
  • Transaction fees: AVAX is used as fees for various activities inside the network such as for transactions or subnets subscriptions.

Detailed information about AVAX Coin

AVAX Token Metrics

  • Token Name: Avalanche
  • Ticker: AVAX
  • Contract: FvwEAhmxKfeiG8SnEvq42hc6whRyY3EFYAvebMqDNDGCgxN5Z
  • Token type: Native, Utility.
  • Token Standard: AVAX C-Chain
  • Blockchain: Avalanche
  • Circulating Supply: 220,286,577
  • Total Supply: 720,000,000
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AVAX Token Allocation

  • Staking Reward: 50%.
  • Team: 10%.
  • Public Sale: 10%.
  • Foundation: 9.26%.
  • Community & Developer Endowment: 7%.
  • Strategic Partners: 5%.
  • Private Sale: 3.46%.
  • Seed sale: 2.5%.
  • Airdrop: 2.5%.
AVAX Token Allocation

AVAX Token Release Schedule

The vesting period will be scheduled as follows: 

AVAX Release Schedule

How to buy AVAX

You can buy AVAX on listed exchanges such as:

  • DEX: Pangolin, TraderJoe, Orca,…
  • CEX: Binance, FTX, Gate.io,…

Alternatively, you can use Coin98 Exchange to swap other tokens for AVAX by clicking the Swap button at the end of the article.

Learn more: How to use Coin98 Exchange

How to mine AVAX

Users are required to hold 2000 AVAXs to be a validator and can earn up to 11% rewards per year paid in AVAX.

How to store AVAX

You can store AVAX coin on Coin98 Wallet with these steps:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search AVAX Token.

Step 3: Click on the correct result, copy the wallet address and send AVAX to this address.

How to store AVAX using Coin98 Wallet

Roadmaps and Updates

In Q4 2021, the Avalanche platform will launch these important updates:


  • X-Chain Dynamic Fees.
  • X-Chain Pruning.
  • X-Chain Fast Sync.


  • Cross-subnet transfers.
  • Permissionless subnets.
  • Subnet validation rewards.
Avalanche’s Roadmap

Team, Investors, and Partners


The leading members of Ava Labs. The Ava Labs team has collective experience from leading Fortune 500 finance and tech companies to high-growth blockchain companies.

The leading members are:

  • Emin Gun Sirer: Founder and CEO.
  • Kevin Sekniqi: COO & Chief Protocol Architect.
  • Ted Yin: Chief Protocol Architect.
The leading members of Ava Labs

More information can be found here: https://avalabs.org/team


Avalanche was able to raise capital up to $290M from major funds in the market such as Three Arrows, Dragonfly Capital or Polychain.

Three Arrows Capital and Polychain invested in Avalanche



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Is AVAX a good investment?

This article has provided some of the main ideas related to the AVAX token and its implications. Still, it is important to note that there are a few key points that investors should take into account before making investment decisions:

Avalanche is one of the most successful layer-1 blockchain projects up to date. Avalanche’s superior technology is quite optimized compared to other blockchains such as Ethereum and Polkadot, allowing transactions up to 4500 TPS and thousands of validators to run.

The Avalanche network can handle more than 4500 transactions per second

Avalanche’s ecosystem is growing rapidly with more than 300 projects built at the moment. Even big projects like Aave or Curve have deployed on Avalanche.

The ecosystem is growing rapidly with more than 300 projects

In addition, Ava Labs continuously launches support packages to develop the ecosystem such as $180M AvalancheRush, $230M to raise capital and most recently, a $200M package is called Blizzard to develop NFT and GameFi categories.

A “huge” $220M incentive program to support DeFi, NFT and GameFi

Similar Projects

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I hope you have gained all of the important information about AVAX including its features and highlights throughout this topic.

If you have any questions about AVAX or want to know more about AVAX, please feel free to leave a comment below and join Coin98 Community for further discussions about Crypto.

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Posts “What is Avalanche (AVAX)? All about AVAX Coin” posted by on 2023-10-01 03:24:41. Thank you for reading the article at www.atccoin.net

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