Review and Rating
Security: Avalanche is a decentralized blockchain platform. It is a full-fledged eco-system. Developers can easily create powerful, reliable and secure applications or customized blockchain networks with complex sets of rules, as well as build on existing private or public subnets.
This system operates on the basis of the Avalanche consensus protocol and is used for asset management. C-Chain is designed to create smart contracts, and P-Chain is designed to coordinate validators. These two blockchains use the Snowman consensus protocol. The Avalance protocol works as follows – all nodes work simultaneously, and transactions of other validators are already randomly confirmed. Only after a certain number of such checks, a transaction or other action can be true. Thanks to this, the TPS increases to 6500 TPS, and the processing speed takes less than one second.[3]
Security rating – b+
Velocity: Thanks to a good start in 2020 (the year when the Avalanche blockchain was launched), it became difficult to balance between scalability and decentralization.
The system may not be able to cope because of such a flow of users (we have seen this with Bitcoin). At the moment, the project has 1359 validators[1]. The system is convenient to use – it is easy to learn and transparent for the average user. You will be able to receive awards (which is rare in other projects). Ava Labs raised about $ 6 million to launch the project as part of a funding round, after public and private token sales, the amount exceeded more than $ 40 million.[1]
Velocity rating – b+
Engineering: Avalanche platform – is the first open source platform to run DeFi applications. The first platform with smart contacts. The transaction completion rate is – in less than one second. This system is able to withstand a throughput of more than 4,500 transactions per second. We also distinguish the trump card of the project, is the Avalanche Protocol. It combines: reliability, decentralization and scalability, speed. It plays a big role in the organization of P2P transactions, payment of fees, etc.[1,2]
Engineering rating – a+
Transparency: The Avalanche protocol is open for external audit – the project developers pay great attention to audits. The percentage of security of the transaction is - 80% (when BTC. ETH – 51%). Developers are holding conferences (the last one was in March this year in Barcelona, and gathered more than 3,500 participants). The DAO of the project has the following advantages: users can present and discuss a proposal for the protocol, the best derivative platform on Avalanche, offering a special experience and a number of exclusive options. The project is promising and aims to become a leader in the blockchain industry.[4,1]
Transparency rating - b
Reference
[1]https://www.avax.network/- official website
[2]https://coinmarketcap.com/currencies/avalanche/ - coinmarket
[3]https://www.avax.network/ - technical documents and forums on the official website
[4] https://everestdao.net/ - Avalanche DAO and system architecture