Avalanche
Cryptocurrency
1 Year Change
↑11.32%
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Avalanche (AVAX)

AVAX/ZAR: Convert Avalanche (AVAX) to South African Rand (ZAR)

Avalanche offers a blockchain network that supports a new wave of decentralised applications (dApps). It offers an open, programmable platform for smart contracts, designed to handle a high volume of transactions without compromising on scalability. The native cryptocurrency, AVAX, is used for transaction fees and can be staked to enhance network security.

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Avalanche (AVAX) Price

AVAX Last Price
R5452.78
AVAX 1y Return
↑11.32%
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AVAX
ZAR
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Pricing data is provided by Altify and excludes fees. Visit our Pricing page for more information on all fees and charges.

Avalanche (AVAX) Returns

As of December 12, 2023 11:00 PM GMT+2

24 hours

↑11.32%

1 month

↑11.32%

3 months

↑11.32%

6 months

↑11.32%

1 year

↑11.32%

Since Inception*

↑11.32%
* The Avalanche (AVAX)  inception date was 22 November 2018.

About Avalanche (AVAX)

What is Avalanche (AVAX)?

Avalanche is a blockchain platform designed to solve the blockchain trilemma of scalability, security, and decentralisation through its unique Proof of Stake (PoS) mechanism.

Like Ethereum, Avalanche supports smart contracts for running decentralised applications (dApps). Since its smart contracts are written in Solidity, the same language used by Ethereum, Avalanche promotes greater blockchain interoperability, integrating with prominent decentralised finance (DeFi) ecosystems such as Aave and Curve.

The platform's native token, AVAX, powers its ecosystem, serving as the currency for transaction fees, system rewards, and governance participation across the network.

How Does Avalanche (AVAX) Work?

Avalanche's unique architecture is composed of three distinct blockchains: the X-Chain, C-Chain, and P-Chain. The X-Chain is responsible for creating and transferring AVAX tokens and other assets under standardised rules. The C-Chain supports smart contracts and decentralised applications, utilising its own Avalanche Virtual Machine, which allows developers to fork EVM-compatible DApps. The P-Chain manages network validators, tracks active subnets, and facilitates the creation of new subnets. By distributing these functions across separate chains, Avalanche achieves high throughput while maintaining decentralisation.

The History of Avalanche (AVAX)

In May 2018, a pseudonymous group of software developers known as Team Rocket published a paper laying the foundation for the Avalanche protocol. Soon after, Emin Gün Sirer, a Cornell University computer science professor and a key figure in the Initiative for Cryptocurrencies and Contracts (IC3), founded AVA Labs to build and develop the Avalanche blockchain.

Sirer, who also created Karma, an early Proof of Work virtual currency for peer-to-peer file sharing in 2003, launched Avalanche with a $42 million ICO in July 2020. The Avalanche Foundation continued to attract significant investment, raising $230 million in a token sale in July 2021, with backing from major venture capital firms such as Polychain and Three Arrows Capital.

What Are the Potential Use Cases for Avalanche (AVAX)?

Avalanche aims to offer a versatile platform for various use cases. Numerous projects have already integrated with the network, and its modular architecture strengthens interoperability with other blockchains.

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How to Buy Avalanche (AVAX)

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AVAX markets

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Crypto Risk Disclosure

High Volatility and Risk of Loss:

Investing in crypto assets involves significant risk, and may result in the loss of capital. Cryptocurrency markets are highly volatile and may experience sudden and substantial fluctuations in value. As such, there is a possibility that you may receive an amount less than your original investment or experience a complete loss of your initial investment's value.

Remember past performance doesn’t guarantee future results and we can’t guarantee returns since asset prices move based on supply and demand, so never trade with funds you can’t afford to lose.

Altify does not provide investment advice or recommendations. As an investor, you are responsible to make decisions regarding your investments. You should seek professional advice if you're uncertain about the suitability or appropriateness of any investment for your specific circumstances or needs.

Lack of Regulation and Protections:

While the cryptocurrency industry is gradually becoming more regulated, it remains largely unregulated. As a result, your holdings are not protected by any government-backed insurance scheme or financial services compensation scheme. In the event of a loss, theft, or cyber attack, there is no guarantee that you will be able to recover your funds.

Irreversibility of Transactions:

Crypto transactions are irreversible. Sending funds to an incorrect address or falling victim to fraudulent activities may result in the permanent loss of your assets. Ensure all transaction details are correct before proceeding.

Market Liquidity and Accessibility:

Under certain market conditions, it may be difficult or impossible to liquidate a position quickly at a reasonable price. The value of your crypto assets is driven by market demand, which can fluctuate and potentially result in a total loss of value.

Tax and Legal Considerations:

Investing in cryptocurrencies may result in tax liabilities. It is your responsibility to understand and comply with your local tax laws and regulations. Cryptocurrencies may also be subject to changes in legislation that could affect their use, value, and legality.

Further information can be found in the General Risk Disclosures and Crypto Risk Disclosures on our website. Investments should only be made by investors who understand these risks.