Avalanche Token

by Ava Labs

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HYCON

by HYCON, Glosfer Co., Ltd.

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Algorand

by Algorand

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Avalanche Token

by Ava Labs

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HYCON

by HYCON, Glosfer Co., Ltd.

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Algorand

by Algorand

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What problem does this service solve?

Avalanche's goal is to enable a more secure and interoperable smart contract platform with faster transactions times.HYCON's DAG/SPECTRE consensus is designed to improve blockchain performance by enabling more than one block to be added to the main chain.Algorand's goal is to create a blockchain with faster transaction times and a more inclusive staking mechanism to achieve consensus.

Token Stats

Company Description

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.
Avalanche was launched by Ava Labs, whose founder Emin Gün Sirer is a veteran computer scientist that has been very influential in the Blockchain space. Gün Sirer is a computer science professor at Cornell University and has written extensively about scaling blockchain networks.

HYCON is a blockchain platform powered by the Hyperconnected Coin. The decentralized platform has a Directed Acyclic Graph (DAG) architecture, and is focused on improving scalability and throughput. HYCON's SPECTRE consensus algorithm is designed to enable horizontal scalability, where several blocks can be added at the same time.

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Algorand is a Boston based company that is developing a blockchain network with a Pure Proof of Stake (PPoS) consensus mechanism. Algorand's decentralized platform is designed to enable faster transaction times and remove some of the technical barriers of creating scalable DApps. Algorand was founded by Silvio Micali, a pioneer in the field of cryptography.

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