Saturday, September 23, 2023

Is Avalanche a Good Investment?


Each year in cryptocurrency makes a difference. With a market cap of not more than $300 million, Avalanche ( AVAX) is comparably a not-so-popular cryptocurrency.

It is honestly quite a remarkable accomplishment since the network launched recently. Now, Avalanche has raised its market cap to a value higher than $27 billion. It moves higher than the popular network, Shiba Inu. This current status of Avalanche, according to CoinMarketCap, is sufficient in making its native token. AVAX as the 11th biggest cryptocurrency in the world.

Earning in Avalanche

Early Avalanche buyers are surely much richer today. For an initial $1,000 investment at the start of the year would now worth around $34,000. But early investors are not the only ones who can get a good earning in the network. Even investors that placed their transaction in the middle of the year can still receive a good rate in value. The cryptocurrency investment was able to garner a return that reached nearly 11x since the early half of the year. Those who only bought Avalanche a month earlier still did not miss the high gains from the network. They would earn about 90% of their investment. This rise in Avalanche value may entice you at this period. But it must be taken into note that there is still a chance that Avalanche’s performance might drop.

The Secret to Avalanche’s Success

Among the thousands of existing cryptocurrencies, how has Avalanche blown up, and the others haven’t? The most possible answer to this question is the architecture of its blockchain. Avalanche’s platform supports smart contracts. These are contracts that are self-executing and that operate based on the terms in the agreement between seller and buyer. Ethereum also supports smart contracts like Avalanche , but the difference is that of popularity. Avalanche is noticeably faster and has lesser fees to pay compared to Ethereum. These are possible in Avalanche for it has three interoperable blockchains which are:

1. Exchange Chain (X-Chain) – supports the trading and creation of the AVAX tokens which are the native token of Avalanche,

2. Contract Chain (C-Chain) – manages the creation of decentralized applications that are on the smart contracts, and

3. Platform Chain (P-Chain) – Validators can coordinate and check transactions, and subnets, which are dynamic groups of validators.

The triadic-blockchain Avalanche’s design lets it reuse deals at a rate of over 4,500 deals per second. In other words, its finality period can take place in just under two seconds. When a transaction reaches its finality, it will no longer reverse and will now add to the network’s blockchain. Avalanche brings fortune in the future.

Avalanche has a chance of delivering a 34x gain in the next year and could possibly be gaining more than what Bitcoin, currently the world’s biggest cryptocurrency market, can provide. Avalanche’s achievement is perceived to continue as society’s acceptance of cryptocurrency is becoming broader in general though cases may still change. Deloitte’s adoption of Avalanche can also be seen as a good step forward for Avalanche and of course, Avalanche users to gain a fortune in the future.

Ivan Cruz
Ivan Cruz
Ivan Cruz is a writer for Cryptoconstellation. He has his Masters in Applied Research in Economics & Business. Ivan has been trading crypto for the past 7 years himself and feels it is his duty to bring you all the latest news.

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