Why buy Avalanche (AVAX)?
Not sure whether to buy AVAX? This crypto is used to pay transaction fees on the Avalanche network, one of the most popular and widely used Layer 1s. Its main goal is to solve the problems of Ethereum, in particular scalability and high transaction costs when the network is particularly busy.
Another reason that might make you want to buy Avalanche (AVAX) is that it is in the top 10 most-used blockchains as of 2021. Moreover, thanks to its subnets, each decentralised application can create its own blockchain ‘environment’ and use it as it pleases.
Why buy AVAX, then? Mainly, to take advantage of a flexible and highly scalable ecosystem. Inflation is also controlled: fees are burnt, keeping the token scarce!
What it is and how it came about
To convince yourself to buy Avalanche (AVAX), you first have to know what it is and how it works. It is a protocol for decentralised finance born in 2020 and – despite its young age – is anything but immature. On the contrary, the platform is very complete and competitive, so much so that it is often compared to Ethereum. Its strength is the great freedom of action for developers, companies and end users. Avalanche allows the creation of smart contracts, tokens, NFTs and blockchains within the platform. One of its goals is also to bring the real economy closer to blockchain technology by tokenising financial assets with easily set rules.
Behind the project is Emin Gün Sirer, a Cornell University professor who has been studying cryptography for over 20 years. His is the Karma System, a protocol theorised to transfer files between users bypassing any centralised server. The study dates back to 2003 and is based on proof-of-work. More recently, Gün Sirer founded Ava Labs in New York: a company that launched the Avalanche project in September 2020. In the same month, the cryptocurrency was listed by several large exchanges, increasing in popularity and value in a matter of months. Is all this enough for you to buy AVAX?
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