As we enter 2023, we continue to work on expanding the cryptocurrency options available for you at BitOasis, and today we’re glad to announce that we’ve listed Avalanche (AVAX)!
You can buy, sell and trade the smart contracts and decentralized apps platform’s token AVAX via BitOasis Lite and Pro, providing you with more space to diversify your portfolio.
What is Avalanche?
Avalanche is a smart contract blockchain that uses a proof-of-stake consensus mechanism. Avalanche describes itself as an “open, programmable smart contracts platform for decentralized applications”, and it powers a lot of blockchain applications like stablecoins, DeFi protocols, and NFTs.
One advantage of Avalanche is that it’s compatible with Solidity, the programming language used in the Ethereum ecosystem, which means developers can do the job once for both networks. Also, Avalanche entered a couple of notable partnerships, like its latest partnership with Amazon Web Services (AWS), the world’s largest cloud services provider.
Avalanche platform consists of 3 built-in blockchains; Platform Chain (P-Chain), Exchange Chain (X-Chain), and Contract Chain (C-Chain), which makes it capable of processing up to 4,500 transactions per second.
The maximum amount of AVAX coins that can be created is capped at 720 million, but unlike Bitcoin, Avalanche users govern how fast new coins are minted through voting. The smallest fraction of AVAX is called nAVAX and is equal to 0.000000001 AVAX.
Note: AVAX deposits and withdrawals are not available yet and will be provided soon.