The Avalanche network uses a unique trusg protocol that builds security and transaction verification. The Avalanche Consensus is a in the operation and governance validator or delegator.
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The AVAX cryptocurrency plays a critical role in the Avalanche ecosystem as it helps the blockchain to deliver efficiency and speed, all while lowering transaction costs and fostering decentralization. The rate of new AVAX token creation is controlled by the network's users through a democratic voting process. They do this by voting to modify the amount of Avalanche crypto paid as a reward to network validators for adding a new block on the Avalanche network. Validators, who must stake at least 2, AVAX, are responsible for actively confirming transactions on the network. The platform's significant developments in areas like decentralized finance DeFi , non-fungible tokens NFTs , and cross-chain interoperability also contribute to its distinctiveness in the blockchain space.
