After reading this article you will have a clear idea of what Avalanche (AVAX) is, what it is used for, and if it’s possible to mine it. Therefore, without any further due, let’s jump into our subject.
What is Avalanche (AVAX)?
Avalanche is a blockchain platform, a decentralized one with smart contract comfortability, just like Ethereum. AVAX is the coin that Avalanche uses. This platform is using “Proof of Stake” (PoS) as a consensus mechanism, which works by selecting validators to confirm blocks of transactions and add them to the blockchain. Every time a new block is added a so-called “mining” process is happening, the new cryptocurrency coins are distributed as “stake” rewards.
What is Avalanche (AVAX) doing?
Avalanche is hierarchizing transaction processing speed and expandability. Therefore, this platform is Ethereum’s main competitor. Avalanche’s (AVAX) blockchain can deliver almost instant transaction completeness. The token, AVAX, is used to secure the blockchain, pay the transaction charges over the Avalanche network.
Alongside being flexible, secure, affordable and accessible, Avalanche blockchain can process up to 4,500 transactions every second, which makes it extremely fast.
So, can you mine Avalanche (AVAX)?
No, Avalanche (AVAX) cannot be mined.
You can not mine AVAX, that is simply not how Avalanche works. As we mentioned earlier Avalanche is using “Proof of Stake” (PoS) as its consensus mechanism, which we also explained. Therefore, it is impossible for AVAX to be mined. In order for a cryptocurrency to be mined, its blockchain platform has to use the “Proof of Work” (PoW) algorithm, which uses expensive and very powerful processing machines to mine tokens.
Keep in mind that Avalanche is Ethereum’s main competitor. While they are extremely similar to each other, Ethereum uses PoW (Proof of Work) so far, which makes it a great alternative to Avalanche from a mining point of view.