Avalanche Token vs Tendermint vs GINcoin
What problem does this service solve?
Avalanche's goal is to enable a more secure and interoperable smart contract platform with faster transactions times. | The Tendermint consensus algorithm secures transactions in the Cosmos ecosystem. | Gin's goal is to allow users to set up masternodes more easily. |
Token Stats
Not Relevant |
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. | Tendermint is a consensus algorithm that was created by a company called All in Bits. The open source algorithm is Byzantine Fault-Tolerant and uses an authenticated encryption system to secure transactions. The Tendermint consensus mechanism was developed in 2014 for the Cosmos Network. The Interchain Foundation, which is developing the Cosmos Network, continues to employ All in Bits to support Cosmos. | GINcoin is designed to be a masternode-facilitating blockchain and coin. It lowers the technical requirements to set up a masternode on any blockchain. GIN can also be used as a DApp development platform. GINcoin uses a Delayed Proof of Work consensus algorithm to verify transactions. |