AVAX is the native token of the Avalanche Blockchain.
Avalanche is a popular Decentralised Finance (DeFi) blockchain.
The top DeFi protocols that run on Avalanche are AAVE, Trader Joe, Wonderland, Benqi, and Curve.
What we like the most about Avalanche is that it lets us launch customized private & public blockchains.
Avalanche, with a transactional throughput of more than 4500 tps, performs phenomenally faster than:
- Bitcoin (7 tps),
- Ethereum (14 tps), and
- Polkadot (1500 tps).
In terms of transactional finality, Avalanche (less than 2 seconds) leads as compared to:
- Bitcoin (60 mins),
- Ethereum (6 min), and
- Polkadot (60 seconds).
AVAX is Avalanche's native token and it can be used for staking, paying fees, and providing a unit of account between the multiple subnetworks created on Avalanche.
The officially recommended wallets are Avalanche Wallet, Ledger, Frontier, and D'Cent.