What is Avalanche (AVAX)

Avalanche is an open and programmable smart contacts platform for Decentralized Applications. Its native token, Avalanche (AVAX), acts as the platform currency to stake and pay transaction fees to secure the network. Launched in 2020 by Ava Labs, Avalanche aims to provide its users with a better interoperable, scalable, and usable blockchain solution through its smart contracts. It was co-founded by Emin Gun Sirer, a computer science professor and the CEO of Ava Labs. It is one of the rival blockchains to Ethereum, "a leading smart contract blockchain."" It contends Ethereum by providing a higher output of 6,500 transactions with greater scalability. Anyone can create unlimited customized blockchains on Avalanche by paying a subscription fee in its native token. The total supply of hard-capped AVAX tokens is 720 million.

How does Avalanche (AVAX) Work?

What makes Avalanche different from other similar platforms is its structure. Unlike other similar platforms, it is built on three interoperable blockchains, i.e., the Exchange Chain (X-Chain), Contract Chain (C-Chain), and Platform Chain (P-Chain). Each of these blockchains holds specialization in a task associated with the Avalanche ecosystem. For example, its X-chain blockchain handles the creation and transactions of Avalanche assets. The fee for transactions of this chain is payable in AVAX tokens. The EVM (Ethereum Virtual Machine) compatible C-chain of Avalanche is responsible for running its smart contracts. It allows the users to deploy their Ethereum smart contracts on Avalanche. Lastly, the P-Chain facilitates users to create L1 and L2 blockchains. It keeps the P-chain as the default subnet (blockchain) in all the user-created blockchains.

The chain-optimized consensus protocol of Avalanche, called Snowman, secures the C-Chain and P-Chain, while a DAG-optimized Avalanche consensus secures the X chain. As the network architecture of Avalanche is distributed in three blockchains instead of one, it is efficient to perform better in terms of security, speed, and flexibility. For example, it can handle up to 4500 transactions per second, which is way higher than Ethereum and Bitcoin.

The holders of its AVAX tokens can use them to pay fees and initiate peer-to-peer transactions through the Avalanche platform.

How to Buy Avalanche (AVAX) in India?

There are many platforms where you can invest and trade Avalanche (AVAX) in India.

One such platform is Flitpay. To buy the Avalanche (AVAX) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy the Avalanche (AVAX) and execute the Avalanche (AVAX) purchase.

You can instantly convert your INR to AVAX and AVAX to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

FAQs

What is Avalanche (AVAX)?
Avalanche (AVAX) is the platform currency of Avalanche. It is required to pay transaction fees, subscription fees, or for staking on the Avalanche while building and operating dApps through it.

What is the Avalanche (AVAX) Price in India?
Check out the current INR price of AVAX  tokens in India on Flitpay.

Which is the best platform to buy Avalanche (AVAX) in India?
The best crypto exchange in India to buy AVAX or your favorite cryptocurrencies is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Avalanche (AVAX)?
AVAX is an important part of the Avalanche ecosystem. It is used to settle down all the transactions and fees charged by Avalanche to its users. The holder of this token can also stake and trade it to earn passive rewards.

Is it safe to invest in Avalanche (AVAX) in India?
Yes, investing and trading in Avalanche (AVAX) is Safe in India. Flitpay is one of India's most secure cryptocurrency exchange to invest in AVAX. It offers the most real-time prices and advanced investing features.

Is Avalanche (AVAX) a Good Investment?
Avalanche uses a different approach to facilitate the development of dApps on it, so it, along with its token (AVAX), is quite popular among its other competitors. But cryptocurrencies can be highly volatile at times; hence one needs to be careful while making any investment decision.