What is Avalanche (AVAX)?
Avalanche (AVAX) is a blockchain network that provides robust smart contract functionality and is designed to facilitate the use of decentralized applications (dApps), NFTs, and other complex blockchain platforms at scale.
The Avalanche blockchain provides users with the ability to create unlimited, interoperable blockchains, and uses three blockchains to ensure that the network is capable of scaling to meet the transaction speeds and throughput demands of mainstream adoption.
Avalanche consists of three distinct blockchains — the Exchange Chain, which facilitates the decentralized exchange of digital assets; the Platform Chain, which coordinates validators on the Avalanche network and allows users to create their own blockchains; and the Contract Chain, upon which smart contracts are deployed and executed.
Avalanche’s triple blockchain architecture allows it to execute transactions at scale and has resulted in partnerships with Ava Labs, the organization behind Avalanche, and major enterprises and global businesses that include Mastercard and Deloitte.
AVAX is the native utility token of the Avalanche blockchain. It is a hard-capped and scarce digital asset used for various essential functions within the ecosystem. AVAX is utilized to pay transaction fees, secure the network through staking, and serve as a fundamental unit of account across the multiple Layer 1 blockchains (L1s) built on Avalanche.
AVAX is listed on Binance for trade and purchase. The current price of AVAX is updated in real-time on Binance.
