| General information | |
|---|---|
| Global rank: | 12 |
| Name: |
Avalanche |
| Symbol: | AVAX |
| Current coin price (IMP): | 21.00 IMP |
| Last hour: | arrow_upward0.900 % |
| Last 24 hours: | arrow_downward-2.31 % |
| Last 7 days: | 4.18 %trending_up |
| Capitalisation (IMP): | 8 532 093 456.96 IMP |
| Volume 24h (IMP): | 291 561 931.91 IMP |
| Available supply: | 406 235 350.00 AVAX |
| Total coin supply: | 720 000 000.00 AVAX |
| Start date: | 2020-09-23 |
Avalanche/Manx pound (AVAX/IMP) price chart
Avalanche/Manx pound (AVAX/IMP) capitalisation and volume charts
Avalanche (AVAX) is an open-source, smart contracts platform designed to scale infinitely and finalize transactions in less than one second. Its quick transaction confirmation times make it an ideal choice for decentralized finance (DeFi) applications and enterprise-level blockchain solutions. Additionally, Avalanche is fully compatible with the Ethereum development toolkit, promoting seamless interoperability. It allows millions of independent validators to participate as full block producers. Notably, Avalanche is also an eco-friendly blockchain platform catering to the needs of Web3 developers.
Contract Chain (C-Chain): The C-Chain, where 'C' stands for contract, is utilized for smart contracts and DeFi apps. It uses Ethereum-style addresses starting with 0x, compatible with wallets like MetaMask. Most Avalanche DeFi platforms, including AAVE, Trader Joe, and Benqi, operate on the C-Chain.
Exchange Chain (X-Chain): The X-Chain is primarily used for transferring funds and features unique "X-avax" addresses. It's not utilized for DeFi platforms and doesn't support MetaMask or similar wallets. The X-Chain is a Directed Acyclic Graph (DAG) and is essential for transferring AVAX with ultra-high transaction per second (TPS) rates and low fees.
Platform Chain (P-Chain): The P-Chain, or platform chain, is pivotal for staking AVAX and participating as a validator. Rewards from validation or delegation are received on this chain, and it features "P-avax" addresses distinct from Ethereum-style addresses.
The Avalanche mainnet was officially launched in September 2020, marking a pivotal moment in the blockchain ecosystem and offering new opportunities for a wide array of participants, including developers, investors, and enterprises.
Avalanche is primarily used for launching DeFi applications and enterprise blockchain deployments. It boasts an impressive throughput, handling over 4,500 transactions per second. The platform exceeds the typical 51% attack vulnerability threshold, providing enhanced security. Moreover, the AVAX token serves multiple functions: it's used to pay transaction fees, secure the network, and act as a basic unit of account among various blockchains within the Avalanche ecosystem. The platform supports both decentralized applications (dApps) and autonomous, custom blockchains, thus offering extensive utility and versatility.
Emin Gün Sirer spearheaded the development of the Avalanche Consensus protocol and its native token, AVAX. This project was developed at Cornell University with the collaboration of PhD candidates Maofan Yin and Kevin Sekniqi, under Sirer's guidance.