Hello Subscribers,
Getting it from the horses mouth head of AVAX Professor Emin Gün Sirer. AVAX is a bridge from Ethereum to Avalanche. 5 Million Assets were taken out of Ethereum and put into avalanche. It is a prime example of a financial tool previously only available to the super rich. Even if you tap into this market with only $200 your in! This was not possible before you had to be super wealthy. DEFI is gonna bring to the masses what was only previously available to people able to hold super rich accounts like Goldman Sach's, so previously only available to high net individuals, not any more. This open's up a new world for the masses.
Proof of work - Mining Satoshi Nakamoto electricity consuming way that bitcoin network uses.
Proof of Stake - How you secure the network
Consensus is alway sending messages in a certain way, with both these methods. However these protocols are different in how they do their messaging. All to all messaging is the AVAX angle. Emin and his team found that validator to all other validators is a slow and unscalable. In Emin's assessments of other crypto projects using this validator to validator method Emin says "other proof of stake protocols don't scale." So he came up with avalanche as a solution to this. Avalanche uses a different mechanism, repeated sub-sample voting.
What is this sub-sample voting. Ask a small set of people. The math works out that after a small number of rounds you can safely commit a decision if certain conditions are met. That is what makes avalanche so fast. Consensus being a quicker draw pole, most will pas, to speed transactions up. Speed is key. Most decisions are over 100 or 200 milliseconds. Latencies are 750 milliseconds for Avalanche.
That is for the review of Avalache for now. I believe this project has a lot of future now potential. With strong university level personnel in their development team and a solid project foundational plan and idea for the DEFI crypto space. To state the obvious, quicker speeds means you have the ability to pay more people quicker and not wait for hours for the network to complete transactions, means less waiting.
- Peace, love and joy. Namesté
