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Avalanche (AVAX) is a and it is also a platform.
Avalanche is designed for developers to create other blockchains and decentralised applications (dApps). Launched in 2020, Avalanche has a goal of being really efficient while also being affordable.
Here are some real-world examples of some interesting projects being built on Avalanche.
Small farmers in Kenya can struggle to get crop insurance. Thanks to Avalanche, an app called automates policies using smart contracts and weather-tracking oracles. (Oracles connect real-world data with a blockchain.)
Farmers sign up via their smartphones, paying just a few dollars. When adverse weather hits, thousands of Kenyan farmers receive automatic payouts, providing crucial financial support.
Some insurance companies are reducing coverage to farmers due to climate change effects, leaving some communities without protection. Lemonade Insurance aims to fill that gap, and because it is an automated process, it saves time and money.
OK Cashbag is an app that runs on Avalanche. Owned by an entertainment company called Dreamus, it in South Korea.
Using the blockchain, OK Cashbag ensures that only genuine tickets are sold, it reduces scalping, and prevents counterfeiting.
So next time you front up to a K-Pop concert in Korea, it could be Avalanche behind the scenes, making ticket transactions more protected.
is an independent AAA game studio. AAA games are the blockbuster movies of the gaming world. These are high-quality video games created by big, well-established development studios and published by major companies.
When you play Gunzilla’s game, Off The Grid, which has been built on Avalanche, everything happens seamlessly, there are no annoying delays or waiting times. Also it has very competitive fees to play.
Players can save their in-game items they have earned (like virtual weapons and virtual skins) as NFTs, or sell them on to other players. They can even rent them out! Thanks to the blockchain, players know exactly what they own.
Avalanche’s speed, scalability, and community-driven approach make AVAX a rather compelling choice for crypto enthusiasts. Buying AVAX is worth getting on your radar.
CoinJar is a cryptocurrency exchange where you can conveniently buy and sell Avalanche (AVAX). To purchase AVAX, you'll first need to deposit funds into your CoinJar account using a bank transfer. Once your funds are available, you can navigate to Avalanche within CoinJar and execute your buy order.
Things to know:
Market Cap: The total value of all AVAX coins in circulation, indicating the overall size and popularity of the Avalanche ecosystem.
Avalanche Platform: A decentralised, open-source platform that supports the creation of decentralised applications (dApps) and custom blockchains.
Smart Contracts Platform: Enables the execution of self-executing contracts with the terms of the agreement directly written into lines of code.
Consensus Protocol: The mechanism used by the Avalanche network to achieve agreement on the state of the blockchain and validate transactions.
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