Key takeaways
Avalanche crypto (AVAX) has been making a splash in the headlines. But in the deluge of information, it can be difficult to pinpoint exactly what’s happening, we’ll lay it out.
AVAX is facing allegations of foul play against competitors from a Crypto Leaks report.
What is AVAX?
First, let’s walk through a little bit of backstory on AVAX.
Avalanche is a cryptocurrency and blockchain platform set up to rival Ethereum. Within the Avalanche blockchain, AVAX is used as the token to support a suite of blockchain projects, such as tracking smart contracts.
After launching in 2020, the Avalanche platform has positioned itself to become a fast, affordable, and secure way to process transactions. Although the platform can continue to create AVAX coins up to the 720 million token cap, the rate at which tokens are minted is impacted by the votes of current AVAX holders.
AVAX is used to secure any transactions that take place on the Avalanche network, but you can purchase the...
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