Recently, cryptocurrencies have become a popular destination for generating income. At the same time, the number of cryptocurrencies increases over time, which gives investors more opportunities in terms of investing financial resources. This is quite possible if you analyze the market and charts of the rates of the most profitable cryptocurrencies. Reasonable risk takers can do the following:
- increase the return on investment;
- expand the areas of investment;
- use modern technologies.
Origin of avalanche
It should be emphasized that on avalanche, the cryptocurrency was created by the Turkish-American information technology specialist Emin Gün Sirer, who founded Ava Labs. Previously, Sirer was involved in the creation of various operating systems and solved the problems associated with scaling and increasing the security of BTC. It is noteworthy that avax is a cryptocurrency that acts as a native avalanche token.
Creating Avalanche, Sirer made efforts to solve the main problem of current blockchains – low speed. It is known that the fastest versions carry out transactions much more slowly than Visa. At the same time, he managed to achieve a very good indicator of 6500 transactions per second, which exceeds the BTC network by 1000 times! However, not every cryptocurrency trader has a clear idea of what Avalanche is in terms of profitability and market prospects.
The functioning of the avalanche cryptocurrency
The avalanche platform, an overview of which is presented on the Internet on various web resources, provides many opportunities:
- form smart contracts along with decentralized applications;
- launch blockchains – both private and public.
According to the developers, the avalanche token was created on an algorithm that turned out to be less energy-intensive and also more secure when compared with Proof of Stake.
The first private sale of the token avalanche took place last spring, when investors purchased cryptocurrencies worth as much as $12 million. A few months later, 42 million worth of coins were bought. Therefore, Avax is a very promising cryptocurrency in the corresponding market segment.
Since the beginning of 2021, there has been an increase in the avax rate by approximately 3000%. According to financial market analysts, we should expect its further growth up to $905 at the end of 2023. It should be recalled that at the moment the cryptocurrency has reached a maximum of $146. At the same time, its initial price before entering the auction was only $ 4.