5. Avalanche
Emin Gün Sirer, an IT professional linked to Bitcoin (BTC) and decentralized networks, is one of three co-founders of Ava Labs. The Avalanche Consensus, which enables substantially bigger transaction volumes than Bitcoin and competes with organizations like Visa, is a direct result of Sirer's long-standing concerns about Bitcoin scaling.
Avalanche is an open-source platform for creating blockchain businesses and DeFi apps in an extremely scalable environment. It is the first smart contract platform that supports the whole Ethereum development tools, verifies transactions in under a second, and allows millions of independent validators to take part as full block producers.
Avalanche is capable of orders of magnitude more transactions per second than current blockchain networks (around 4,500 transactions/second) and security levels much beyond the 51% norms of other networks, in addition to providing sub-second finality.
The consensus mechanism is a key distinction between Avalanche and other decentralized networks.
Avalanche allows people and companies to easily build strong, dependable, and secure applications and custom blockchain networks with sets of complex rules or build on top of existing private or public networks that suit their use, in contrast to other networks that enforce network participation terms and conditions uniformly across the system.
The native token of the Avalanche platform, the Avalanche Token (AVAX), is used to pay fees, secure the network via staking, and serve as a fundamental unit amongst the many subnets built on the Avalanche platform.
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