Avalanche Token vs VestChain
What problem does this service solve?
|Avalanche's goal is to enable a more secure and interoperable smart contract platform with faster transactions times.||VestChain aims to create a better performing smart contract platform.|
The Avalanche token (AVAX) performs various tasks within Avalanche's Proof of Stake blockchain network. The Avalanche token functions as a rewards and payment system for users. The network is designed to be an open-source platform for launching highly decentralized applications, enterprise deployments, and decentralized financial instruments. The Avalanche ecosystem is meant to be smore scalable and interoperable than other blockchain platforms. Unlike Bitcoin and many other networks, transaction fees are “burnt” in order to increase token scarcity. This process is offset by the release, or “minting,” of new coins.
VestChain is developing a smart contract platform that will have a double layer architecture. Their network is currently powered by the Ethereum based VEST token.