Avalanche coin b. Explanation of how blockchain is used in the project. At a high level, discuss the blockchain architecture including: • Is the network permissionless or permissioned? • What is the consensus mechanism, who is involved and how does it work • What is the token used for? What other features differentiate this project from its competitors?
Avalanche coin
b. Explanation of how blockchain is used in the project. At a high level, discuss the
blockchain architecture including:
• Is the network permissionless or permissioned?
• What is the consensus
• What is the token used for?
What other features differentiate this project from its competitors?
Avalanche coin:
Avalanche (AVAX), a smart contract-capable system, seeks to advance blockchain technology, notably in terms of connectivity, scalability, and usage.
Avalanche, a blockchain network that can support smart contracts, was introduced by Ava Labs in 2020. With an emphasis on low prices, quick transaction times, and environmental friendliness, Avalanche seeks to create a scalable blockchain-based solution while ensuring decentralization and security.
Users can build as many unique and functional blockchains as they want with Avalanche. One must pay a monthly subscription fee to run a blockchain technology on the Avalanche coin, AVAX.
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