When Satoshi Nakamoto came up with the idea of having a non-monopolized means of carrying out financial transactions, the thought of reducing the cost of transactions was definitely at the tip of the "to-solve" list. A look at the original Bitcoin Whitepaper and you will find that part about the ultimate reduction of the cost incurred from financial intermediation. Bitcoin has now made this (reduction of transaction fees) possible.
In Satoshi's exact words, “The cost of mediation increases transaction costs, limiting the minimum practical transaction size.” While at the start, the cost of transactions was reduced and the speed was increased, that has since not been the case anymore. Top Altcoin Ethereum has seen exponential growth in its network because of the increased adoption of its blockchain. Ethereum has outperformed its other major digital currencies rivals this year because of this increase in adoption. This distinction in performance has been bolstered by the surge in decentralized finance (DeFi) and Non-Fungible Tokens (NFTs). And this has led to the high transaction fees that the network has become known for.
Last month, Ethereum gas prices reached their highest in over three months, when they averaged around 121 Gwei on August 27. This culminated in a spike in the average transaction fee, with prices reaching as high as $38.306 on the same day. This is the highest it had gotten to since May 19. This rise in prices and gas fees is coming after the London hard fork implemented the EIP-1559 protocol. This hard fork was expected to lead to more predictable gas prices but that hasn't been the case.
Since it reached that peak of 121 Gwei, the average gas price in Ethereum has dropped to 100.69 Gwei, as of August 29. And an average transaction cost of $30.865. This is a 110% increase in transaction fees of Ethereum since August 5 (which is the date of the London hard fork).
All of these are the sad reality that transactions across Proof of Work (PoW) networks like Ethereum and Bitcoin are still struggling in the cesspit of high transaction fees.
There have been solutions with the introduction of new blockchains. Blockchains like the Binance Smart Chain, Polkadot, Avalanche, etc have had quite a huge reception. And I'll be talking about Avalanche here.
Avalanche is a decentralized public chain with an open, programmable smart contracts platform for high-performance decentralized applications (dApps). It was built to solve the problems like low performance and the high cost of public chains, and to provide its users with a faster, more convenient, and low-cost experience. At the moment, when measured by time-to-finality, Avalanche is one of the fastest smart contracts platforms in the blockchain industry and has the most validators securing its activity on any proof-of-stake protocol.
Now, every Blockchain has its native launchpads which work towards the development and expansion of its ecosystem. You see, the bigger the ecosystem, the larger the number of launchpads that are required to cater to the serviceable members of the community. For Avalanche, there's AvaXLauncher.
AvaXLauncher is the first Incubator and the first Launchpad for the Avalanche ecosystem. AvaXLauncher offers a faster, more secure, and more efficient platform for decentralized fundraising. AvaXLauncher is the primary Launchpad for Avalanche and it is aimed at strengthening the ecosystem by becoming the largest decentralized token launch pool and auction platform in crypto.
Built by Co-Founders Ankit Joshi, a full-stack developer with experience of over 3 years working in the blockchain domain, and Cuong Pham who has spent over 12 years building tech products. He was exposed to the blockchain technology domain in 2016. Together, these two have built a Launchpad that carries out fast and instant transactions, a launchpad that is energy efficient and eco-friendly, enables the transaction between interoperable assets and applications with thousands of nodes that have been put in place to ensure smooth operations.
This has been what has attracted the backing of some of the industry's top players. Firms like Solidity Ventures, Magnus Capital, X21 Capital, and OnChain Capital etc.
AvaXLauncher recently completed its whitelist process and had over 3.5 Million entries with over 45,000 users qualifying to participate in AvaXLauncher's IDO. At the IDO, 20,000,000 AVXL were sold at $0.0022 per token for a fixed cap of $400 per person.
Total number of tokens — 2,000,000,000 $AVXL
Initial Market Cap (without liquidity) — $53,680
Tokens to be sold — 300,000,000
Initial Market Cap (FDV at the public sale) — $4,400,000
Staking-LP Rewards — 23%
Marketing and Leads — 17%
Team — 15%
Liquidity provider —15%
Private — 14%
Reserve Fund — 10%
Advisors — 5%
Public — 1%
For Team — 0% at TGE with a 50-days cliff, then daily vesting for the next 10 months.
For Advisors — 0% at TGE with a 30-days cliff, then daily vesting for the next 8 months.
Website — https://avaxlauncher.com/
Twitter — https://twitter.com/AvaXlauncher
Telegram Chat — https://t.me/Avaxlauncher
Announcements Channel — https://t.me/AvaxLauncherAnn