Thirteen years ago, Blockchain technology was introduced to the world. The first generation of Blockchains heralded a technology capable of disrupting the status quo in multiple sectors and challenging the thought process behind existing infrastructures. This technology ’upgrade’ did not bring the means to extend the capabilities of the blockchain without causing irreparable damage to the chain history through hard forks.
Finally, we arrive at the current blockchains designed to address these unanswered questions. Blockchains are designed to be scalable, support the execution of code and be composable. A generation to which Aventus proudly belongs. Its technology is built on Substrate for composability and interoperability, ensuring it can serve any business logic.
Aventus Network belongs to the new generation of composable blockchain networks built for scalability and interoperability. It can have high transaction throughput, provides deterministic finality, and low and predictable transaction costs. The network operates as a layer-2 to Ethereum and is used by several production applications. The mainnet has processed over 12 million transactions since its launch in 2021.
Initially designed as a Layer-2, it plays well with legacy blockchains such as Ethereum, making it faster and cheaper to transact on Ethereum. And with modern cryptographic algorithms, consensus mechanisms and insignificant transaction fees, it’s built to scale. Aventus is a new benchmark for interoperable Blockchains designed for modern business.
The Aventus Network (AvN) launched in February 2021 with 10 validator nodes and a staking program that allowed members of the community to stake their AVT and earn rewards. The AvN is built on Substrate – a next-generation blockchain technology developed by one of the co-founders of Ethereum. Substrate is the technology powering the Polkadot ecosystem, which established a new architectural paradigm delivering interoperability and scale.
Who are the founders of Aventus (AVT)?
Alan Vey is the Founder & CEO of Aventus. Alan is a Forbes 30 Under 30 winner for his work as founder of Aventus, with previous experience at Deloitte and Brevan Howard. He completed his Master’s Degree in Artificial Intelligence at Imperial College London. His Master’s thesis was on blockchain technology, during which he conceived a business plan for what became Aventus. He has created companies and tokens worth over $300M today.
Andrey Brozhko is the Chief Technology and Product Officer. Andrey has over 20 years of experience leading product and software engineering efforts, primarily in distributed systems and security applications, spanning large multinational companies and startups in fintech, blockchain and cloud industries. Ex-R3 and Oracle, he is a graduate of Warwick University and holds an MBA and MSc software engineering degree.
What is Aventus (AVT) used for?
Users pay AVT as fees to the AvN for processing their transactions, enjoying low and predictable transaction fees on a scalable and secure network.
Validators deposit AVT when they join the AvN. This stake serves as a fraud deterrent. A Validator is penalized directly if it seeks to damage the network by violating its rules. This aligns their incentives with those of the network.
Anyone holding any amount of AVT can stake their AVT to earn rewards, assuming AvN hasn’t exhausted its stake capacity (reached validator staking limit).
AVT holders will see their votes carry weight equivalent to the amount of AVT they hold.
Build decentralized projects
Companies have been building on Aventus. Since the launch of the mainnet, there has been a growing list of companies from various sectors building on the Aventus network.
Athletes, artists, musicians, and corporate companies build NFT marketplaces with Aventus to generate additional revenue while maintaining full control of their brands and data.
How is Aventus (AVT) unique ?
The existence of multiple Ethereum competitors and other private / permissioned networks has created a situation where there are many disconnected silos of value. Aventus Network addresses this problem. It is interoperable with Ethereum because Ethereum assets can be seamlessly transferred to and from AvN in a simple operation.
At the same time, the Aventus platform is built using Substrate, which provides an open path to becoming a Polkadot parachain. Scale, price, and interoperability The AvN can currently scale to 2,000 transactions per second — 133 times more than Ethereum. The AvN will process a token transfer within 0.13 seconds — 100 times faster than the Ethereum blockchain.
The transaction costs on the Aventus Network are decided by the community. Currently, the average cost is $0.01 (paid in AVT). This is 99% cheaper than the average Ethereum transaction fee over the past year, but most importantly, it is predictable. Aventus Network addresses transaction price volatility and allows network users to plan for and allocate operational budgets for transaction processing.
This is a matter of particular importance for businesses, where unexpected price spikes can result in a significant increase in the cost of business, or worse, denial of service and a loss of revenue. The AvN has onboarded over 12 million transactions from multiple entities active on the network over the last year.
How many Aventus (AVT) coins are in circulation?
AVT was launched on the Ethereum mainnet and had a total and max supply of 10,000,000. Approximately 60% of these AVTs were bought for 60,000 ETH during an ICO in September 2017 within seconds. It has a circulating supply of 6,000,000 AVT coins and a max. supply of 10,000,000 AVT coins.
How is the Aventus network secured?
Aventus L2 is a general-purpose blockchain built on Substrate. Its function is to group transactions into blocks so that each transaction influences the resulting cryptographic ID of the block in the block, and the chronological order of the blocks is cryptographically verifiable. It provides robust tools to build blockchain networks designed and optimized for any use case.
Validator nodes are authorized nodes that can create blocks on the chain. These nodes maintain the blockchain by authoring blocks, and verifying transactions submitted to them from inside and outside the L2 or via gossip by other validators. There are currently 10 validator nodes on the main network. To promote decentralization, the most prevalent network operation in most blockchain implementations is the Peer-to-Peer (P2P) exchange.
How do I buy Aventus (AVT)?
The AVT token can be used for a wide range of purposes, like staking and governance.
AVT tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy AVT through your trading account by swapping with BTC, ETH, or USDT pairs.
Which Cryptocurrency Wallet Aventus (AVT)?
The PTPWallet platform supports many cryptocurrencies, with AVT soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.
If you’re looking to learn more about PTPWallet and to stay updated on our latest news, be sure to follow us on our social media accounts. You can find us on our channels.