The bull market is back in full swing, and this has many people wondering which cryptocurrencies have the most potential in the near term. While there are a lot of coins and tokens which could see amazing gains smart contract cryptocurrencies seem to be front and center for both individual and institutional investors. This list includes Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Solana (SOL), and of course Avalanche (AVAX).
Over the last month, AVAX has pumped more than 4x, and both the fundamentals and technicals suggest AVAX has the most room to grow of all the top smart contract cryptos.
Today I’m going to give you a quick recap of what Avalanche is, bring you up to speed on some of the project’s most bullish updates, and tell you just how much potential AVAX could still have.
Avalanche was founded by a computer scientist and Cornell University Ph.D. Emin Gun Sirar in 2018.
Avalanche was built by AVA Labs a software development company based in New York, which Emin also founded in 2018.
The Avalanche mainnet went live in September 2020 after a series of funding rounds which collectively raised over 60 million dollars. Avalanche gets its name from a novel Proof of Stake (PoS) cryptocurrency consensus protocol that was pitched in 2018 by an anonymous group of individuals who call themselves Team Rocket.
Naturally, this novel Proof of Stake (PoS) cryptocurrency consensus protocol is called Avalanche, and it involves gossiping transactions to other nodes on the network until they’ve all been made aware of it.
Given the exponential speed at which gossiped information can spread, it makes it possible for Avalanche to process roughly 4,500 transactions per second (TPS), and achieve finality within one second. Read More…