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.

Sakura Bloom is a Japanese company that is developing a blockchain-based rewards network. It will allow businesses to create customer loyalty programs that are cross-site and cross-platform compatible. Consumers are not restricted to using their rewards with just one merchant, and can redeem them in different ways. The network is powered by the SKB token.

Semux is developing a blockchain platform for creating decentralized applications. Semux's platform is written entirely in Java and is powered by the native SEM coin. It has a Byzantine Fault Tolerant consensus algorithm that is designed to confirm transactions quickly.