AVAX is a token created by the Avalanche platform to secure the blockchain network, pay for the operational fees, transfer value between peers and create new networks on the Avalanche platform. Additionally, AVAX coin is the first smart contract plat...Moreform that can verify transactions in under 1 second and that supports all Ethereum development tools. Turkish computer scientist Professor Dr. Emin Gün Sirer created the Avalanche platform using an original consensus protocol. Avalanche confirms transactions in less than a second and supports the entire Ethereum development toolkit. It is also the first smart contract platform to enable millions of full block generators. During the testnet, Avalanche broke the record of more than 1,000 block producers from independent parties around the world, even surpassing the test networks of some of the most anticipated networks and most of the major active mainnets. Avalanche has one of the most equitable token distribution plans in the ecosystem, with less than 14% of mainnet tokens issued to private investors and almost 70% to users who build on the ecosystem. AVAX was created as a limited supply token. The total supply is set at 360 million tokens and the maximum supply 720 million tokens. Various transaction fees will be incurred as the system continually issues new tokens as it reaches its maximum limit.
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