A look at the cryptocurrency industry and avalanche protocol from the history of Money
Since mankind has moved from the hunter-gatherer order to the established layout, the various mines, grain products, animal skin, salt, jewelry ... the spread of trade has grown and spread as a value tool.7 BC. The Money adventure, which came to the top of the world's greatest propulsion forces, began and played an important role in shaping civilizations after lydians invented the coin they created by striking soft mines (copper, bronze, silver, gold) on the mold. 7 BC. For the first time in nearly 3000 years, human beings have thousands of different varieties, but they evolve from concrete financial tools to an abstract digital vehicle. In fact, we have been experiencing digitalization with credit cards and mobile payment tools for the last 70-80 years, but ultimately we can take the concrete look that is equivalent to our account at any time and put it in our pocket.
Control of money has always been in the hands of kingdoms, state or very powerful families, as well as various institutions such as the IMF and the World Bank. That's why btc's output, decentralized, decentralized, book records distributed database, rewriting the rules and the limited number of money that could stand firm against inflation has excited people. However, my personal opinion is that the idea of trading with a decentralised reserve money that no one in the world is under the guidance of anyone will go beyond a utopia. Even btc's output has many question work, and believing in coincidences would be fictitutic in this world order. However, iran's and Venezuelan stake in cryptocurrencies against American sanctions also seem to be a hope for freedom. Over time, when the fog cloud here dissipates, we'll always see the truth beret.
Blockchain-based cryptocurrency eco-system Satoşhi Nakamato published the White paper about 12 years ago has come a long way. Thousands of coins followed after BTC,Today there are 6057 cryptocurrencies according to Coin marketcap data. Although the vast majority of them are garbage projects, they are very good among them. These coins are health, finance, gaming, energy, insurance, real estate, social media....etc. and confiscated all kinds of areas that come to mind for different purposes. Nevertheless, the cryptocurrency sector is at $342 billion and bitcoin dominates the market at a rate of 60%. The world's finance, trade, real estate pias are $80-90 trillion in size, and when derivative pias are put in place with $1.2 quadrillion dollars, the level reached by the cryptocurrency sector over 12 years is still very small. There are certain reasons for this ; Regulation, speed, scalability and psychology.
Regulation
In fact, the bottom line is that states don't want an instrument that's not in their control, they can't manipulate it as they want. On the world scale, the dollar's throne is rocking, while the reserve currency war is taking place. Global team will seek to get the IMF's SDR out of its own coin
SPEED AND VOLUME
Why use a system that takes seconds, minutes, even hours, while our operations in everyday life are done in seconds with the current system? Of course not. While many claim that they have reduced their trading time too much, it is clear that they cannot handle worldwide use in their existing chains. However, we can not ignore that if visa, one of the fastest payment tools, has reached these levels in 60 years, the path of cryptocurrencies in this regard cannot be underestimated in 10 years.
Psychology
General society habits have been in the hands of institutions that have been holding or holding for thousands of years, even if they can't, they can get it at any time. As such, it is not an easy task for people to keep your money in a digital money wallet in a digital world where the majority is foreign, and it is not an easy task for hackers to change their habits in the environment where the stock exchanges are attacked.
At this point, I want to be in the original position; AVALANCHE protocol; This new consensus protocol is self-in-the-way. We qualify as a generation and I think that the speed, scalability, scalability, security problems in the cryptocurrency sector mentioned above will greatly eliminate security problems and contribute greatly and role models in the development and growth of this sector.
To date, we can address blockchain-based consensis (Unanimous) protocols in 3 majors.
- Classic protocols
Everyone is in contact with everyone for the unanimous vote. - Nakamato protocol
For unanimous work proof based on problem solving - Avalanche protocol
Random small groups voted with each other and by stepping up this unanimous decision in a very short time and final Below,
You'll see that the Avalanche has completed the shortcomings of the other 2 protocols in comparisons to these three main protocols.
What is Avalanche?
Avalanche is:
• A heterogeneous network of custom, interoperable blockchains and custom validator sets
• A platform for defining, launching and maintaining custom blockchains
• A platform for creating and trading smart digital assets
• A way to store and transfer value without a centralized entity
Thanks to the scalability and speed voting system (docs.avax.network), it reaches a final conclusion in a very short time. The votes of thousands of Validators (nodes) by sampling are directed to all nodes to make decisions as a result of several rounds of voting. With low equipment needs and low energy consumption, it provides a great advantage according to the Nakamato protocol. BTC's clustering around several mining companies with ever-changing and expensive equipment has led to the public's decentralisation of "decentralisation," which is largely the biggest thing for moving away from mining. There are no leaders in the Avalanche, and the fact that thousands of validators have a say ensures that they are robust and resistant to attacks. Thanks to its flexible structure, it allows it to create special blockchains that contain all kinds of logic.
Key Features
Speed
The Avalanche platform uses a novel consensus protocol created by distributed systems researchers in 2018, also called “Avalanche”, to permanently confirm transactions in 1-2 seconds.
Scalability
Avalanche handles thousands of transactions per second and can accommodate thousands of validators with no loss of performance.
Security
Avalanche provides stronger security guarantees than either classical or longest-chain consensus protocols.
Private/public Blockchains
Users can create their own public or private blockchains.
Finance-focused
Avalanche was built with serving financial markets in mind. It has native support for easily creating and trading digital smart assets with complex custom rulesets that define how the asset is handled and traded. The assets could represent financial instruments such as equities, bonds, debt, fractionalized real estate, or anything else.
As a result, this new protocol will make a big impact in this industry.
