The fascinating story of Avalanche’s rise from nowhere to $19bn market cap in 2 years

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 77%

United States News News

United States United States Latest News,United States United States Headlines

[SPONSORED] With a market value of around $19bn (half of what it was in Nov 2021) Avalanche is now seen as a must-hold in diversified crypto portfolios. Brett Hope Robertson of RevixInvest explains... AVAX blockchain

Of the growing number of so-called “Ethereum-killers” out to displace Ethereum’s dominance of the new financial system known as DeFi, Avalanche deserves special attention.

He built the first proof-of-work cryptocurrency called Karma in 2003, four years before the launch of Bitcoin itself. After being told by his university peers that a competitor to the US dollar would never receive funding, he shelved it. Avalanche was a relative latecomer to the market, appearing only in 2020 once Sirer had subjected Avalanche to the most rigorous of tests. Avalanche is the name of the network, and AVAX is the native token that fuels transactions on this network.

Avalanche launched one of the first “proof of stake” blockchain systems . This made Avalanche one of the most eco-friendly networks on Earth. There is typically a trade-off between speed and decentralisation. Decentralisation is vital for maintaining security and privacy of transactions. Avalanche has been able to demonstrate thus far that it is a serious contender to host the world financial system of the future, adds Hope Robertson.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tech stocks help steady markets while dollar rockets to near 20-year highsThe US currency is offering safety and yield amid turbulence fuelled by China’s lockdowns and Europe’s energy crisis Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Source: BDliveSA - 🏆 12. / 63 Read more »