I’m following Avalanche for a while now. Normally, I’m very sceptical about shitcoins but what Avalanche is doing seems to be really impressive.
This article published on Hackernoon sums up everything very well: Avalanche (AVA) — Blockchain 3.0: A Novel Metastable Consensus Protocol
tl;dr
Avalanche will implement a new consensus protocol, which was developed by a pseudonymous team called "Team Rocket" (as a counterpart to "Satoshi”, coming from Pokémon) and published in 2018. Prof. Emin Gün Sirer, Kevin Sekniqi and Ted Yin are planning a solution that will implement this new protocol for the first time.
So, this isn’t an endorsement from my side but I’m giving Avalanche a shot. It’s very early to judge and hopefully we will see many esteemed developers reviewing this project – and receive a final conclusion if Avalanche can deliver the next big step in crypto.
Community platform: Avalanche hub
To build a community, Avalanche has launched a big community bounty platform, called Avalanche hub. Avalanche aims to reach a large number of users to build an educated and committed community and of course to distribute some AVAX.
Even here, Avalanche has learned from previous projects where team’s and VC’s greed lead to launch debacles that have harmed many high-ranking, newly launched altcoins, such like XRP, Hedera Hashgraph, Algorand or xx-coin, just to name a few. Avalanche is different, distributing large parts of coins to a committed community to turn their idea into a successful coin.
Everyone can participate on the platform, many tasks are offered:
- Writing articles about Avalanche
- Recording videos about Avalanche
- Joining AVA Telegram group
- Different tasks on Twitter
- Infographic creation
- Translations to your local language
- ...
A majority of new tasks will be launched during July.
How does it work?
For completing tasks you’ll get some “AVA hub points” which can be converted to AHX, which is an ERC-20 token that can be converted later to AVAX, mainnet coin of Avalanche.
5,000 AVA hub points = 100 AHX = 100 AVAX
1 AVA hub point = 0.01$
Unfortunately, Avalanche requires KYC but it’s divided into different levels:
Level 1: name and address, enough to receive 100 AHX
Level 2: ID and video verification, for more that 100 AHX
Level 3: proof of bills and residence (documents!)
Level 4: for very high amounts
If you don’t want to do KYC, you can also choose Amazon cards:
5,000 AVA hub points = 50$ Amazon card.
You can sign up here and earn AVAX coins: Join Now and earn AVAX!
Note: Make sure that your submissions have a high quality, bad quality will be rejected immediately. The rules are very strict to ensure only quality gets rewarded.
Avalanche will also hold a sale on July 8, 2020, more details here.
(also including token distribution).
For now, I’ll continue to follow the latest updates, research about critical questions and of course get some AVAX to test it myself. Avalanche Hub is a great place where you can contribute your skills and get some AVAX as reward.
It would be a shame to miss such a great project!
More technical details:
Ava Labs Exits Stealth, Launches Blockchain Testnet Based on ‘Avalanche’ Protocol
Cornell Professor Unveils ‘Simple Yet Powerful’ Consensus Protocols
Note: I’m not an employee of Avalanche, for official questions please reach out to Avalanche. Support is available here:
Official Links:
Website: https://www.avalabs.org/
Twitter: https://twitter.com/avalabsofficial
ANN: https://bitcointalk.org/index.php?topic=5245143.0
Community-Platform: https://community.avax.network//signup/6X7IT4g9VD/
Telegram: @avalancheavax
Medium: https://medium.com/avalabs