Discover the Avalanche Network Does Avax Have a Future

Jake Claver

In this video, blockchain expert Jake Claver discusses his thoughts on the future of Avalanche  Blockchain Network. Is it worth investing in and does it have a future? What do you think will drive Avalanche growth? Avalanche NFTs? Avalanche Gaming? Real World Tokenization?  #avalanche #avax #crypto   Find more from Jake Claver by visiting the links below:  🖥Websites🖥 Digital Ascension Group - https://www.digitalfamilyoffice.io Beyond Broke Mastermind - https://mastermind.beyondbroke.com  Social media Twitter -   / beyond_broke   Linkedin -   / jacobclaver   TikTok -   / jakeclaverqfop   Facebook -   / jakeclaverqfop

Transcript

00:00another network that is revolutionizing the blockchain space, and that is Avalanche.

00:07So what is Avalanche? What are some of the things that are being built on it? And then also,

00:11where's price going to go long term for this project? Avalanche is a layer one blockchain,

00:17and Avalabs is the company that grants other people tokens on the network to be able to build

00:24out specific use cases and foster innovation and foster a community where people come together and

00:29utilize the infrastructure for different applications. Avalanche is really special

00:34because of its snow protocols. The snow protocol is a group of rules that the Avalanche blockchain

00:40uses to agree upon new information. This is a big deal in the world of blockchain because there's

00:45three different protocols that all work together. So one is the X chain, one is the P chain, and one

00:52is the C chain. So let's break down what each one of those chains does. The X chain is the

00:59exchange chain, and it does the trading of assets that are issued on the network. The C chain is for

01:07smart contracts. The P chain is for managing validators and sub validators on the network.

01:13And all of these interact in their specific role and work together in order to validate transactions

01:18and make sure that things are run efficiently. In comparison to other chains like proof of work or

01:23proof of stake, they use something called subsample voting. And in this method, a node gets a transaction,

01:31it asks a random group of nodes if they've seen or validated the transaction, and then they get the

01:37answers based on what they know. And this process repeats until they all agree upon whether or not the

01:42transaction is good or not. This way, the snow protocol reaches agreement fast and efficiently,

01:46even when there's a lot of nodes in the network, it's also really secure and it's safe against

01:53different types of attacks. And that's what makes it really strong because of the decentralization

01:56of the nodes across the network. So now that we've kind of run down what, you know, comprises the

02:03network and how Avalanche works, what's the company behind it and what do they do to support the

02:09network and help it grow? Well, that's Avalabs. They do a lot, you know, behind the scenes,

02:13they're a foundation, they issue grants to different people that are developing on the

02:17network. And the main roles that they play in the ecosystem are the development of the blockchain

02:23itself, Avalanche and the platform. Again, they support the developers in the community by providing

02:31grants and other, you know, educational content for them to view and use on GitHub. They foster

02:38partnerships and collaborations with other ecosystems, blockchains and companies. And they also do

02:43the token economics and network governance, which basically means they manage the Aux token and

02:49how people use it on the network and make decisions around that. And then last, they help with the

02:54incubation and support projects. So any new projects that are being brought onto the network,

02:58they kind of take them under their wing and make sure that they're going to be successful.

03:01So some of the key projects and applications that might be used and are being used in Avalanche's

03:06ecosystem include, you know, DeFi platforms and applications, NFTs, obviously everybody's

03:13favorite. And then, you know, there's a bunch of other use cases that could be potentially built out

03:18on the network over time that we don't really have any leaders in. So let's get into some of the few

03:23companies that actually do have some traction in a few of these different areas. And we'll break those

03:28down. Pangolin Exchange, which is a popular place on Avalanche for trading, but doesn't have a

03:35decentralized authority. It's a decentralized exchange and it offers fast, cheap trades and

03:40ways to earn through liquidity pools and farming. And then you've got BinQiFi, which is a platform

03:47on Avalanche where you can lend and borrow money against your AVAX and other tokens that have been

03:51issued on the network. And you can earn interest on what you lend and stake through loans on your

03:57crypto, which is cool. Then there's a couple of different NFT projects that are kind of leaders

04:02when it comes to Avalanche. One of those is the marketplace itself. So Snowflake marketplace,

04:09you can buy, sell, trade, your NFTs that have been issued on Avalanche. And then also

04:14you can bridge your NFTs from Ethereum onto the network. And then I think they have another bridge

04:20with Binance as well. So it supports, you know, digital art and collectibles that have been issued on

04:28the blockchain and you're able to swap those in that marketplace. One of the NFTs that's prominent

04:34there is Avalanche Punks, which, you know, is kind of a spinoff of Crypto Punks that was launched on

04:39Ethereum. And like I mentioned before, there's a couple of different bridges. One of those is the

04:46Avalanche bridge, and that's what allows for you to port NFTs that have been issued on Ethereum over to

04:51Avalanche and then utilize them on that network. Some of the key areas that I think might be relevant

04:59in the future for Avalanche or use cases would be supply chain management. You've also got DAOs and

05:08governance. There's a lot of great infrastructure within the protocol that could allow for that to

05:13develop on the network. And then tokenization of real world assets because of the smart contract

05:17capability for what you have on Avalanche, I think that there could be a pretty significant adoption

05:23of tokenization of real world assets on this chain as well. So let's get into everybody's favorite

05:30topic. What could price go to? All right, so we're a little over $35 right now per AVAX. I myself,

05:40I'm not going to speculate on the token, but I'm going to give you some different articles that have been

05:43written and some potential price appreciation for what could happen in the next bull run or if we

05:49saw utility on the network. So cryptonews.com, they basically estimate, you know, in the article

05:57that they've written that you could see a 10x over the next bull run in the token. So that would put us

06:02somewhere north of $350 a piece. Pretty good return. Seeking Alpha is another site that's written

06:09about Avalanche and its potential price appreciation. And they mentioned something pretty interesting

06:15here. So in order to be able to run a subnet validator, you have to hold 2000 AVAX tokens

06:23basically in escrow to be able to fund the node. And so, you know, right now that's going to be

06:31about $70,000 if you wanted to run a subnet validator and earn rewards on the network. But if you

06:39know, if we've got a 10x and that, I mean, that's $700,000 is what's going to cost you to run one of

06:45these. And that's going to be the same across other networks. Um, you know, I've talked about

06:49other ones before where there's master nodes and standby nodes on the network and you have to fund

06:54those nodes with specific amounts of crypto. Um, be interesting to see how that plays out, but that

07:00locks up those tokens. They're off the market, drives scarcity and supply and demand. So it could be

07:06another catalyst, uh, as people, you know, continue to build out nodes on the network,

07:10uh, for some price appreciation and, um, again, could drive price, you know, potentially 10x.

07:17The last one, uh, AOL.com. Um, there's been a couple of different articles that have been written

07:21there, uh, all speculating that the price, you know, would go somewhere between $48.95 and $92.50.

07:29Uh, but we have seen some on there, uh, looking ahead to 2030 where people are talking about,

07:35you know, $294.68 all the way up to $407.72.

07:43Your guess is as good as mine. Uh, I do think that there's a lot of potential for this network,

07:47especially if we do have full scale adoption and there's use cases that are built out on top of it,

07:51uh, that drive value. And again, you know, lock up the token, you could have scarcity. And so,

07:58you know, I'm bullish on the token and the network myself. They're doing some really cool things in

08:03order to change the blockchain space. Uh, they have a really strong group of supporters. There's a big

08:07community behind AVAX. Uh, and if you aren't involved with them, I would encourage you to check

08:12out the community and don't forget to like, share, and subscribe for more of the updates

08:16on technology and blockchain until next time, keep exploring and stay curious.

08:27And I'll see you next time.

08:32Bye.

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