AVT is an Ethereum token that powers Aventus, a scaling solution for Ethereum that aims to provide faster and cheaper transactions. Transaction processors stake AVT in order to secure the network and are then rewarded with network fees. Aventus also plans to allow AVT holders to vote for upgrades.
What Is Aventus (AVT)?
Aventus (AVT) is a network built under a customizable layer-2 blockchain procedure. Layer-2 is a network that stands on top of a fundamental blockchain system to increase its accessibility and performance. The platform was introduced to seek to reduce the fraudulent activities conducted in the live ticketing industry. The platform considers improving Ethereum trading by increasing its connectivity controlling the prices and frequency.
The whitepaper states that the Aventus Network aims to help in facilitating the allotment, control, and possession of virtual assets by combining the range of private blockchains with the security and connectivity of public blockchains without any errors.
Additionally, the currency aims to offer exchanges 99% less expensive than the average processing fee of Ethereum. Consequently, the factors that seek to make Aventus (AvN) an efficient network are:
Price – The average transaction cost on Aventus (AvN) is estimated at $0.01 (paid in AVT).
Scale – The network can conduct 2,000 transactions per second.
Enterprise-Grade – The Aventus Network has received over 18 million transactions from customers who have been productive on private test channels. Also, AVN aims to promote transparency of transactions.
Green – AVN works as a proof-of-stake blockchain. For mining a new block, here, the transaction processors are selected depending upon the Aventus token (AVT) being staked.
AVT is the native token for Aventus. The AVT utility tokens aim to coordinate network participants' rewards to provide reliable, fraud-resistant connectivity that token holders control. Besides, the AVT token seeks to declare itself as the fuel of the proof of stake, layer-2, Aventus Network. Also, the token holders get the right to take part in votes in determining the key parameters in the AvN.
Aventus seeks to empower the wide-scale acceptance of public-distributed blockchain by allowing multiple devices to communicate with one another.
History of Aventus (AVT)
Aventus Network (AVT) was founded in 2017. Since February 2021, the network has been available for all business and decentralized platforms for building Ethereum fairly. The management team includes Alan Vey as the CEO and cofounder of the organization. Vey has working experience at Deloitte and has a master’s degree in artificial intelligence. The maximum total supply of the Aventus token is 10,000,000 AVT coins.
