Financial Future is Today with Avalanche
The number of blockchain offers for the FinTech industry is growing every month. And this is easy to explain, as this technology offers the most advantages for the financial sector. We are all tired of bureaucracy, countless and hidden commissions, and low transaction speeds. Unfortunately, the implementation of decentralized solutions is not happening as fast as we would like it to. In this article, I would like to talk about another project that is already taking steps to implement decentralization in daily financial transactions. Read further to find out.
Introduction to Avalanche
Avalanche is a high-performance, scalable, customizable, and secure blockchain platform. These are the main subjects of use:
– Building application-specific blockchains, spanning both private and public deployments.
– Building and launching scalable and decentralized applications.
– Building arbitrarily complex digital assets with custom rules, covenants, and riders (smart assets).
Avalanche today offers many opportunities to financial world.
Fully customized blockchains
With Avalanche, you can deploy blockchains that fit your own application needs. So, there is no need to adapt to different platforms restrictions. One can develop an app for specific tasks and needs, save the budget, eliminate unnecessary expenses for developers and platforms.
It’s irrational to refuse from such benefits of today as smart assets and smart contracts.
A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement. Thanks to smart contracts we can reduce the need in trusted intermediators, arbitrations and enforcement costs, fraud losses, as well as the reduce malicious and accidental exceptions.
A smart asset is an asset with an attached script that sets conditions for each transaction made for a given token. Smart assets greatly simplify the writing of contracts, making the implementation of many cases concise and elegant.
At the beginning, Avalanche supports standard Solidity-based smart contracts on the Ethereum virtual machine. Over time, the platform will support a richer and more powerful set of smart contract means, like smart contracts with parallel execution, new Solidity++ to support added oppportunities and so on.
Creation and trading of digital assets
Avalanche enables the launching of smart assets or digital representations of real-world-assets that obey special parameters and trading restrictions. Better than any other platform.
Building of scalable smart contracts and decentralized apps
The cutting-edge Avalanche protocol makes it possible for developers to launch smart contracts that confirm in a second and scale to thousands or millions of validators. At this moment, do you know any solution with such an efficiency?
Avalanche ensures unlimited opportunities for developers, finally all in one place. Sounds like a comprehensive solution for the businesses in different fields.
I will not enlist the features which you can find on the company web site. But I’m just to emphasize on the advantages businesses could leverage with Avalanche.
With the protocol, completing transactions takes place in about a second. To me, it means reality of the XXI century that we all deserve. In the modern world, it is important not only to gain speed, but also to keep it on the level. Delays of one hour or even half an hour can be expensive. Avalanche understands how important the tranfer speed for payments and assents is, and implements into reality the most daring ideas about it.
The platform is capable to accommodate thousands to millions of participants. (Though, you will want to be one of the first users just to gain advantage over the competitors.) No mining is needed. This excludes additional costs for equipment and payment of electricity bills.
One must not forget about the safety rules on the Internet, it is important for both small and large companies. The threat to privacy is a problem that will always pop up in the digital world. On Avalanche, each blockchain launched can define its own core logic and validator set. This means compliance and privacy by default.
Unlike many similar solutions for the financial sector, Avalanche is already taking small but important steps for global change. Among such steps are grants for solution developers who would begin to "accustom" humanity to the idea of decentralization and already implement it in everyday operations. If you are excited about Avalanche and want to give a boost to the community growing, you can apply to become a part of the Ambassador Program.
I admire the company's approach to the solution popularization. Only those who really believe in changes and is into the project are accepted to the community.
Some Technical Basics
Inventing a perfect consensus idea to be an engine for a blockchain has been a difficult task for over the years. As opposed to classical consensus protocols and Nakamoto consensus (which possess disadvantages inappropriate for the modern world), the Snow* family of protocols, introduced by Avalanche, combine the best properties of the above mentioned ones. They are based on a lightweight network sampling mechanism with the help of which they are able to achieve low latency and high throughput with no need to agree on the precise membership of the system and mining. They scale well from thousands to millions of participants with direct participation in the consensus protocol.
The chart below shows in details why the Snow protocol is so advanced (Avalanche Whitepaper https://files.avalabs.org/papers/platform.pdf).
Caring for the Community
The importance of the community cannot be overrated. In fact, the community IS the solution. Participants in the platform collectively act as a decentralized reserve bank. Mutual support guarantees a successful union in which everyone wins. In order for community members to be happy with the solution and recommend the project to their friends, the team is launching support for 10 languages on the site. This also applies to technical support languages. With the development of the project, the number of languages will increase, because the goal of the project is to make decentralization available in the financial world on all continents.
By the way, you can contribute to adding your language by completing tasks here: community growth platform.
Avalanche (AVAX) Token Sale
Just to confirm the trust to the project, I would mention that the Token Sale launched in order to raise funds for developing the platform was finished in one day. Still, if you want to be useful for the global financial future and earn $AVAX Tokens, be sure to register in the Avalanche Hub (https://community.avax.network/).
Web site https://www.avalabs.org/