Recap of AMA of Avalanche with BitMart
On the 6th of August 2021 @ 11:00 AM EDT, An AMA session was held on BitMart Exchange with special guest Rocky from Avalanche . Below we present to you an excerpt from AMA with questions and answers. It was wonderful and very informative, Enjoy reading :)
Yommey| BitMart
Hello everyone 🙋♂
I am happy to be here again on another episode of AM
Today’s Bitmart AMA with Avalanche (AVAX)
And I am happy that our guest speaker for today is already prepared to load us with information 🙂
@OracleMan Welcome to the BitMart community Sir 👏👏
Rocky| Avalanche
Hi there, @yommey_bitmart_admin and the BitMart community. Thank you for having me, I’m excited to be here. 😄
Yommey| BitMart
Thank you for joining us
So, before we go into the AMA proper, can you please tell us about yourself briefly ?
You can give me a thumbs up 👍 emoji at the end of every answer sir
Rocky| Avalanche
Of course. My name is Rocky, Marketing Coordinator at Ava Labs building out the Avalanche Ecosystem. I come from a operational and marketing background and just last year was able to join Ava Labs as I break into the crypto industry. My dream was to always work in DeFi and here I am, living the dream 👍
Yommey| BitMart
Thank you for the brief introduction
So, let’s get right into it
1. What is Avalanche, and what are its strengths?
Rocky| Avalanche
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol (over 1,000!). Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try an app on Avalanche today. You can view our ecosystem projects here: https://www.avax-projects.com/ 👍
Yommey| BitMart
2. Can you overview the various blockchains available on the Avalanche platform?
Rocky| Avalanche
Of course. Unlike other projects like Ethereum and Bitcoin that have one chain, Avalanche features 3 built-in blockchains: Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain).
The P-Chain is the metadata blockchain on Avalanche, managing validators and custom subnets. Validators stake AVAX on the P-Chain to secure the network.
The X-Chain is the default asset blockchain on Avalanche enabling the creation and instant exchange of assets. This blockchain is for transfers that benefit from high-throughput and instant finality (for dapps, use the C-Chain).
The C-Chain is the default smart contract blockchain on Avalanche and enables the creation of any Ethereum-compatible applications and assets with lower fees and faster transactions. 👍
Yommey| BitMart
Next question goes thus ;
3. Can I use MetaMask with Avalanche?
Rocky| Avalanche
Yes, Avalanche should be as simple to use as your favorite web 2.0 applications. Because Metamask is the go-to web extension to enter the web 3.0 metaverse, MetaMask is absolutely compatible with Avalanche. Many DeFi dapps are coming to Avalanche, and new ones are popping up as well. One example is Pangolin, a community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees, and a democratic distribution–powered by Avalanche. To interact with Pangolin, users can use MetaMask connected to Avalanche. Here are resources that will help you get started:
Connect MetaMask to Avalanche: https://pangolin.exchange/tutorials/getting-started
[Video] Setting up MetaMask on Pangolin: https://www.youtube.com/watch?v=DQlPi56lOks
👍
Yommey| BitMart
4. If a project wants to start building on Avalanche, what is the best way to go about doing that?
Rocky| Avalanche
There are a few possible avenues: Avalanche-X grants program, joining Avalanche community channels, and diving into the dev docs.
The Avalanche-X grants program will allow you to get your dapp off the ground with dev support, marketing advice, and funding. We have specific grants that are quite generous for projects actively building out key pieces of the Avalanche ecosystem, so please take a look at them!
Apply to Avalanche-X grants here: https://www.avalabs.org/avalanche-x
The dev resources for Avalanche are extensive and the Avalanche channels regularly have devs from the Ava Labs team and Avalanche ecosystem projects happy to help anyone trying to get their Avalanche dapp off the ground.
Join Avalanche’s Discord: https://chat.avax.network
Join Avalanche Forum: https://forum.avax.network
Dive into Dev Docs: https://docs.avax.network
Yommey| BitMart
Such a valuable piece of information this is
Thanks for sharing
5. What are the best ways to support the Avalanche platform from a non-technical and technical perspective?
Rocky| Avalanche
From a non-technical perspective, joining non-technical community channels like Telegram (https://t.me/avalancheavax) or Reddit (https://reddit.com/r/avax) are good places to start. Also, sharing the information far and wide from Avalanche Twitter posts really helps get the word out; Avalanche Hub (https://community.avax.network/) is a great way to support the community and get rewarded for it as well. Lastly, feedback! For anything related to Avalanche, feedback is always welcome.
For technical users, any of the technical community channels will work. Will reshare links to Discord (https://chat.avax.network) and Avalanche Forum (https://forum.avax.network).
👍
Yommey| BitMart
That’s pretty straight forward. Join the community to be a part of the project. Either you are a tech guru or just a normal project lover. You like and shares go a long way
Okay 👌
Rocky| Avalanche
Exactly 🙂
Yommey| BitMart
6. As an Ethereum user, how would you recommend using or building on Avalanche?
Rocky| Avalanche
Ethereum users can use Avalanche via MetaMask (https://support.avax.network/en/articles/4626956-how-do-i-set-up-metamask-on-avalanche). In fact, tell your favorite Ethereum projects that you’d like to see them integrate with Avalanche to enjoy the fast finality and low fees of Avalanche. It doesn’t take long at all for projects to do so.
Ethereum devs will feel right at home because the Avalanche C-Chain supports Solidity (programming language) and it uses the Ethereum Virtual Machine (EVM). This tutorial may be a good place for Ethereum devs to start: https://docs.avax.network/build/tutorials/smart-contracts/deploy-a-smart-contract-on-avalanche-using-remix-and-metamask
👍
Yommey| BitMart
That’s impressive 👍
So few more questions to go before we move to the audience section
7. What are you most excited about for Avalanche in 2021?
Rocky| Avalanche
Avalanche is consistently pushing integrations week over week. A month in crypto is the same as a year in traditional industries 😉 So enjoy the ride. Just in the last couple months top tier projects have integrated with Avalanche to expand the ecosystem. Some of the categories include: NFT’s, Oracles, Staking, Dev Tools, and Bridges.
Avalanche is also helping with institutions and sovereign states. These discussions require a lot of care but are definitely areas that are most exciting.
👍
Yommey| BitMart
Great 👌
8. Does Avalanche have any governance mechanisms planned for the future?
Rocky| Avalanche
There aren’t any specific governance mechanisms currently, but generally, Avalanche will be fully governed by the token holders. This capability will come in the near future. In spirit of decentralization and open-source, this feature will allow the entire project to be directed by the community. For better clarity on when certain features come out, take a look at the roadmap: https://www.avax.network/roadmap
👍
Yommey| BitMart
9. What are Avalanche’s focus areas within DeFi?
Rocky| Avalanche
Projects that require high-throughput and instant finality as a capability within their dapps are great candidates to integrate with Avalanche.
To reference recent integrations, projects that have integrated include: prediction markets, lending protocols, AMM’s, stablecoins, oracles, and more. The ecosystem grows every day. Follow along here: https://www.avax.network/ecosystem
Yommey| BitMart
Lastly , how can someone support the Avalanche Platform?
Rocky| Avalanche
Because the Avalanche platform is completely open-source, start by joining the network as a validator. Avalanche has developer docs that make the process easy to follow. In fact, even non-technical folks have been able to run their own node just by following the docs step-by-step (https://docs.avax.network/build/tutorials/nodes-and-staking/run-avalanche-node)
If that’s not enough, Ava Labs is hiring! (https://www.avalabs.org/careers) Join the team with more than 115 people focused on building the Internet of Finance. We have both technical and non-technical roles open. We’re remote friendly too!
👍
Yommey| BitMart
That is awesome 😌
Thank you for your time and the responses so far
Now, it’s time to go to our audience
Rocky| Avalanche
My pleasure, it’s always an honor to support the community.
Let’s go 😄
∆ch N∆ch∆👌
Avalanche features 3 built-in blockchains: Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain).
Can’t the advantages of each of these chains be combined into one?
Rocky| Avalanche
Great question! We’ve seen with other blockchains that when there is high activity on the blockchain it slows down the platform. Not only will the chain slow down, but the fees will get higher. Avalanche is built to mitigate these issues. That’s why it has 3 distinct chains, as they are for 3 distinct operations. So if the X-Chain starts to see high activity it doesn’t effect the C-Chain, etc.
Satish 💲
There are many Bug Finders that I know that have worked with many platforms to find the platform’s Bug,
Is there any Bug Bounty program?
Rocky| Avalanche
Yes, Avalanche has generous bug bounties. In fact, the more critical bug that you find the higher the bounty you will recieve. You can view the program here: https://hackenproof.com/avalanche/avalanche-protocol
Lucky Cat
Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??
Rocky| Avalanche
Yes, you are absolutely right. In the spirit of decentralization we have 18 international communities each with their own community manager that is there to answer your questions and provide you help as you get plugged into the Avalanche ecosystem. Take a look at all of our communities here: https://www.avax.network/community
F Bristy
What are your plans in coming future? What is the best way to follow all your upcoming news and updates?
Rocky| Avalanche
Upcoming news will usually be annouced on our Twitter first (https://twitter.com/avalancheavax). That is where the largest audience is and Twitter is the go-to spot for all crypto natives around.
Yommey| BitMart
Thank you so much sir
It’s not easy to scan through all the questions 😊
Rocky| Avalanche
you’re right about that. If you had a question I didn’t answer, please head on over to our Telegram to get it answered! https://t.me/avalancheavax
Yommey| BitMart
Thank you for coming sir
We’ll be dropping the curtains on today’s AMA right here!
Special thanks to the guest speaker @OracleMan
Rocky| Avalanche
Excellent. Thank you BitMart community for your questions and attention. Let’s now go build the Internet of Finance!
Yommey| BitMart
Also, thanks to the audience for taking part and always there to make contributions when called upon
Rocky| Avalanche
Thanks for hosting!
About Avalanche
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try an app on Avalanche today.
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