#Avalanche in 10 tweets
Here are the most important things you should know about #AVAX, the blockchain that scales with subnets
A thread 🧵👇
Here are the most important things you should know about #AVAX, the blockchain that scales with subnets
A thread 🧵👇
1. #Avalanche is a fast, scalable L1 that people can use to create applications, create #DeFi protocols, and launch their own chains through subnets.
2. #AVAX's capability of launching subnets and its innovative consensus method, make #Avalanche extremely fast and scalable. This is done while maintaining security and decentralization. This is how Avalanche solves the scalability trilemma.
3. Almost every L1 runs a single chain. #Avalanche, on the other hand, runs multiple chains in parallel through subnets. Subnets are Avalanche’s form of horizontal scaling. Subnets function in a similar way to sharding.
5. #AVAX already has three primary blockchains:
• The C-Chain is an Ethereum Virtual Machine (EVM) chain for smart contracts
• The X-Chain is a UTXO-based chain for payments
• The P-Chain is a custom chain for platform governance and validator setup
• The C-Chain is an Ethereum Virtual Machine (EVM) chain for smart contracts
• The X-Chain is a UTXO-based chain for payments
• The P-Chain is a custom chain for platform governance and validator setup
6. Advantages with building a subnet over a standalone L1:
- #AVAX provides a consensus engine and manages communications between nodes,
- Instant access to liquidity
- Choice of gas token: you can launch your own token for your subnet.
- #AVAX provides a consensus engine and manages communications between nodes,
- Instant access to liquidity
- Choice of gas token: you can launch your own token for your subnet.
7. #Avalanche’s innovative consensus makes it one of the fastest blockchain networks out there. Transactions are finalized in under a second. Look at this comparison of transaction settlement times by @CryptoSeq:
8. #Avalanche consensus is a whole new class of consensus. It takes aspects of both classical and Nakamoto consensus and builds upon them. #Avalanche consensus works by random subsampling. Only a fixed number of nodes are chosen to do the work for the entire network.
9. #AVAX has a maximum cap of 720 million tokens. 360 million were released on the genesis block. Additionally, fees of every transaction are COMPLETELY burned, increasing scarcity and reducing supply. This means that in the long run, $AVAX will be deflationary.
10. Staking $AVAX also gives you a solid return at ~9-11%, depending on the staking period. Many people have locked up their AVAX as a result, which has diminished the supply further. Currently, $11.27B worth of $AVAX is locked up. This is the 5th most for any chain. @DefiLlama
For a full guide to #Avalanche, check out the 101 I wrote:
Accounts to follow for #AVAX insights:
@Darrenlautf @AviFelman @StephenStonberg @avalancheavax @MessariCrypto @Delphi_Digital @TheTIEIO @cryptofishx @das_connor @Pirbaxcom @CryptoBoy55555 @FinanceHexagon @kriptobabe @RealSaithan @Gud_Project @BubbaCrypto23
RT would mean a lot!
@Darrenlautf @AviFelman @StephenStonberg @avalancheavax @MessariCrypto @Delphi_Digital @TheTIEIO @cryptofishx @das_connor @Pirbaxcom @CryptoBoy55555 @FinanceHexagon @kriptobabe @RealSaithan @Gud_Project @BubbaCrypto23
RT would mean a lot!
More #AVAX accounts:
@DannyCrypt @avatanetwork @AvaxMarket @avaxcenter @EvoxCapital @Avalanche_Space @cryptoxfire @0xPNZ @pandaniaNFT @Petroleum_Defi @AvaxMachina @lostworldsnft
@makeadotnetwork @avax_city @Dant3Digital @AVAXDaily
RT would mean a lot!
@DannyCrypt @avatanetwork @AvaxMarket @avaxcenter @EvoxCapital @Avalanche_Space @cryptoxfire @0xPNZ @pandaniaNFT @Petroleum_Defi @AvaxMachina @lostworldsnft
@makeadotnetwork @avax_city @Dant3Digital @AVAXDaily
RT would mean a lot!
More #AVAX accounts:
@tigermom_crypto @Ahrrggghh @s04p_ @Avasharks @Maxi_cho @0x_pasta @_acap_acap @SJohn_Nahas @0xNinjas @FaridRached @CryptoSeq @BubbaCrypto23 @Arsh0x1 @0xwildinvestor @LuzneryVera @0xFForest @AvaxDegenFi @88Keymaker @0xKira_
RT would mean a lot!
@tigermom_crypto @Ahrrggghh @s04p_ @Avasharks @Maxi_cho @0x_pasta @_acap_acap @SJohn_Nahas @0xNinjas @FaridRached @CryptoSeq @BubbaCrypto23 @Arsh0x1 @0xwildinvestor @LuzneryVera @0xFForest @AvaxDegenFi @88Keymaker @0xKira_
RT would mean a lot!
Hope this was insightful. I spent a lot of time writing this so a like and RT would mean a lot! I regularly post 101s and breakdowns, follow to keep up. Check out my Medium for some of my past write ups:
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