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Avalanche

Avalanche (launched September 2020) is a decentralized, open-source with functionality. The native cryptocurrency of the blockchain is AVAX.


Company
Avalanche (AVAX) was developed by the team of Ava Labs, also known as Ava Lab Inc. Ava Labs, a company located in Brooklyn, New York, United States, with a company-sized 11 to 50 members, aims to raise a highly-scalable ecosystem.

Features

Avalanche (AVAX) has the following properties as its Key features :

High performance:

Avalanche completes transactions in about a second and clears thousands per second. This makes high-volume P2P payments and asset transfers a reality.

Scalable and secure:

The Avalanche platform can accommodate thousands to millions of participants. The protocol is green and sustainable, and there is no mining. You probably already have the hardware required to join the network.

Flexible and customizable:

Each Blockchain launched on Avalanche can define its core logic and validator set. This means compliance and privacy by default.

Sustainability:

Avalanche (AVAX) uses an energy-efficient proof-of-stake consensus algorithm rather than proof-of-work.

Smart Contract Support:

The Avalanche's ecosystem supports the creation of Solidity Smart contracts and most users' favorite Ethereum tools like Remix, , Truffle, and more.

Tokenomics

The Avalanche (AVAX) token is the native token of the Avalanche platform and is used to secure the network through staking, transact peer-to-peer, pay for fees, and provide a basic unit of account between the multiple subnetworks created on the Avalanche platform. The token's ticker is denoted as AVAX and it has a total supply of 720,000,000 AVAX. Currently, the most active market trading AVAX is the  exchange.

Core

In June 2022, Ava Labs launched Core an all-in-one browser extension for Avalanche dApps, NFTs, bridges, Subnets, & more. Core supports Avalanche, Bitcoin, Ethereum, and all EVM-compatible chains.

Avalanche Flash Loan Attack

On the 6th of September 20222, reported a flash loan attack on Avalanche impacting a specific contract, The attacker profited $370k USDC. These Possible impacted protocols include DEX Trader Joe, staking platform Nereus Finance and AMM .

Ava Labs Team

  • Emin Gün Sirer - CEO
  • Kevin Sekniqi - COO
  • John Wu - President
  • Lee Schneider - General Counsel
  • Chris Lavery - CFO
  • Devon Ferreira - CMO
  • Nick Mussallem - SVP of Product
  • Patrick O'Grady - VP of Engineering
  • Jay Kurahashi-Sofue - VP of Marketing
  • John Nahas - VP of BD
  • Lydia Chiu - VP of Business Development
  • Patrick Sutton - VP of PR & Comms
  • Luigi DeMeo - Senior Director of Business Development: Head of Defi
  • Ed Chang - Director of Business Development, Gaming
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Avalanche

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