What is AVAX coin? Introduction to the issue price, total volume and white paper of AVAX coins

As the native token of the Avalanche blockchain, AVAX facilitates transactions, participation in governance, and rewards within the ecosystem.

Oct 01, 2024 at 07:24 am

What is AVAX Coin?

1. Overview

AVAX coin is the native token of the Avalanche blockchain, a layer-1 blockchain platform designed to handle high volumes of transactions at a low cost. Avalanche uses a unique consensus mechanism that allows it to achieve faster speeds and lower fees compared to other blockchains.

2. Issue Price

The initial coin offering (ICO) for Avalanche took place in July 2020, where AVAX tokens were offered at a price of $0.50 per token.

3. Total Volume

The total supply of AVAX tokens is capped at 720 million. Of this, 444 million AVAX were issued during the ICO, while the remaining 276 million are reserved for rewards, staking, and other purposes.

4. White Paper

The Avalanche white paper, titled "The Avalanche Consensus Protocol: A Highly Scalable and Secure Blockchain Architecture," was published on September 17, 2019. It provides detailed information about the technical aspects of the Avalanche blockchain, including its consensus mechanism and scalability features.

Key Takeaways:

• AVAX coin is the native token of the Avalanche blockchain.
• The initial coin offering for AVAX was held in July 2020 at a price of $0.50 per token.
• The total supply of AVAX is capped at 720 million tokens.
• The Avalanche white paper was published on September 17, 2019.