The final turn in Avalanche blockchain; final steps to mainnet…
Today Is August 23, 2020. This is an important history for people who, like me, have believed in blockchain technology, following developments on this issue. He launched the Avalanche4Everest event, which he planned to conduct his final tests before running the Avalanche Blockchain main network. Avalanche is a network project that will make fundamental revolutionary contributions to the blockchain field, especially in solving problems in the field of Finance. The Avalanche has quite different approaches from the projects of the blockchain period. One of their approach that makes a difference is that they address the trilemma nightmare with Tier 1 Solutions, which we can sort through decentralization, scaling, and security in the blockchain space. While decentralization is achieved in first-generation blockchain networks such as Bitcoin, scaling can turn into a nightmare depending on the number of transactions, with final approval periods lasting hours. They need miners who use expensive equipment to approve transactions and enough electricity to compete with the total electricity consumption of many countries. This has led to the establishment of large miner farms in some countries, such as China, where electricity is cheap, where hardware equipment is operated with pool systems, and there is a danger that these pools may come to malicious conclusions in verifications. Second-generation blockchain networks, on the other hand, have sought to solve security and speed problems with second and third tiers instead of solving problems fundamentally. However, as in Eos, the dangers of centralisation have begun. With the problems arising from PoW, such as Ethereum, 20–30 miner pools reached the power to threaten the security of the network, 51% of the known security problems occurred.
The Avalanche architecture, one of the third generation blockchain networks, solved the problem of scaling with fragmented state and random affirmative determination, while building the Avalanche consensus to produce the revolutionary solution of its generation at layer 1. The Avalanche network, which exceeded 4500 TPS in scale by reducing the process approval time to a few seconds, has also minimized energy consumption with the stake system, which does not require mining, while preventing attacks by Byzantine Generals and 51% through the PoS mechanism.
We’ve been going through a period in the last few months that I think will be called DeFi madness in the future. This is actually the madness of the last few years. The finance world is exploring the possibilities of blockchain technology is perhaps too early to establish the sentence or the finance world would argue big to say that blockchain technology in financial transactions has agreed to be the inevitable future. But at least those who invest in blockchain space believe that the revenues of businesses that use blockchain in finance will increase. The natural consequence of this is that the idea that DeFi tokens will be highly valued causes investors to invest in DeFi projects without much thought.
Don’t get me wrong, I’m not worried about why so much is being invested. My concern is to invest unconsciously in a project just because it has written DeFi in its title. While initially this exciting investment news may seem gratifying in the name of Blockchain adoption, the balloon will hurt investors by the unnecessary valuation of some projects. This situation will primarily damage the valuable DeFi projects of the area. Yet the starting point of blockchain technology is to make value transfer possible without third parties. The first attempted blockchain action is P2P value transfer. In other words, the success of digital money transfer between spouses without banks or intermediaries has gone down in history as the most important achievement of the blockchain network. Blockchain network technology cannot, of course, be restricted to mere asset transfer. It has huge databases where no data can be changed, starting with the Internet of things and artificial intelligence algorithm solutions, or very large areas of use such as logistics services where products can be tracked throughout the entire chain. But more than anything else, he is noted for his extraordinary ability in financial transactions.
Avalanche’s DeFi SOLUTIONS:
Starting with the definition of the Avax documents “ Avalanche blockchain was built with the idea of servicing financial markets. It has local support for easily creating and swapping digital smart assets with complex sets of custom rules that define how the asset is handled and swapped. Assets may represent financial instruments such as stocks, bonds, debts, fragmented real estate or lands.
So for those who want to use the avalanche blockchain, just specify the properties of the token you want to produce in your local library. And the asset you want to tokenize can be stock, real estate, bills, debt or digital asset. You can make all kinds of financial transactions or create a crypto exchange.
Offering such a wide range of financial transactions is not normally a workload that a project can handle easily. However, I think the most interesting feature of the Avalanche network is the platform structure that allows the creation of this multifaceted and diverse network. The most important solution that makes Avalanche superior to others is at this point. The Avalanche architecture consists of a number of subnets connected to the main network. These subnets can be created from different virtual machines and in different languages, or they can be installed with blockchains provided by Avalanche. More important is that many features in the subgroups of blockchains can be determined according to the project owner. It wouldn’t be too wrong to define virtually independent networks in the subnet. The business can designate the blockchain as public or private. Determine and modify transaction fees. You can use your own token in your own way and open exchange. In short, he can build his dream blockchain, or, if he’s ready, incorporate it into the Avalanche ecosystem. Avalanche has almost no responsibility except to verify its main network.
A few words for the Avalanche Hub…
DAO Maker, which developed the idea of Project hubs, community centers and prepared the platform software, has also been tasked with providing and launching software for the establishment of Avalanche Hub. Community centres especially play an important role in providing projects teams with the motivation they need from time to time, as well as raising awareness of the project. Especially in the formation of the verification and delegations which are vital in the PoS system, in the operation of the nodes, in summary, in the running of the nodes, they become the igniter and of course the protector of the projects.
The Avalanche Hub is also an incredibly positive energy store, especially with local and main telegram channels and discord channels. If you haven’t had a chance before, make sure to take your time today and visit the telegram channels of the Avalanche Hub, where you can get all kinds of information about the project in your own language.
Avalanche main Telegram group: https://t.me/avalancheavax
Avalanche Hub telegram group: https://t.me/avahub_official
Avalanche Turkish group: https://t.me/avalanche_tr
With the wind of the Avalanche4Everest event launched for the final tests ahead of mainnet for a few days, you will see incredible movement and excitement. All the members of a very large family are looking to build and operate the node with their power. I don’t want to end this article without mentioning two people who have worked with superhuman effort for every kind of awareness campaign produced at the community center. @Fudoaridolu and @gfrancaviglia, 2 community managers who create saga with just 4–5 hours of sleep a day; Thank you for patiently putting up with us, and for answering every question tirelessly.
Every time I start writing for the Avalanche, my most important problem is where to finish. I will list the links that you can get to know the basic features of Avalanche blockchain in more detail.
Thank you for reading.
Community member: ipek
Links for Ava Network reviews:
* Website: https://avalabs.org/
* Whitepaper: https://arxiv.org/pdf/1906.08936.pdf
*Discord: (developers): https://discord.gg/ccc8vEP
* GitHub Repo: https://github.com/ava-labs/gecko
* Documents: https://docs.ava.network/
* Developer Accelerator Program: http://avalabs.org/dap
* Telegraph Ann: https://t.me/AVA_announcements
* LinkedIn : https://www.linkedin.com/company/ava-labs
* Reddit: https://www.reddit.com/r/ava
* Medium: https://medium.com/avalabs