Highlights
- Ava Labs joins Mastercard Start Path Crypto
- Avalanche has announced its massive AVAX burn exercise
- AVAX is Avalanche’s native token that is a hard-capped, scarce asset that is used to pay for fees
Avalanche tweeted that AVAX tokens are being burned. You can watch the burn as it happens here. The tweet states that
“All transaction fees (AVAX) on #Avalanche are burned and removed from circulation–benefitting all holders.”
Avalanche is a fast, open, eco-friendly programmable smart contracts platform meant for decentralized applications such as DeFi, enterprise use cases, digital collectibles etc. It helps users build and launch Solidity-compatible dApps at a low cost through Ava Labs. It supports the launch of Ethereum dApps that are faster than most decentralized blockchain platforms. You can also customize, build and launch both public and private blockchains on the platform. Avalanche allows you to lock up or stake your AVAX tokens. It gives you security guarantees that are higher than the standard 51%.
The Avalanche website describes itself as
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol.
Explore the Avalanche ecosystem here.
Ava Labs Tie-Up
Ava Labs tweeted about being selected to join Mastercard Start Path Crypto. This is a startup engagement program to explore and solve how blockchain technology can effectively democratize its applications for people worldwide. With this tie-up, Ava Labs will get access to Mastercard’s partners and expand innovation in blockchain technology. More details here.
