AVAX vs ALGO compare

AVAX vs ALGO Comparison

AVAX and ALGO are two prevalent coins that have been making waves in the world of cryptocurrency. But which one is a better investment? In this article, we will compare AVAX vs ALGO in detail and help you decide which one is the best investment for you.

AVAX Overview

Launched on September 21, 2020, AVAX is one of the latest additions to the market. It functions as a decentralized, open-source cryptocurrency built on the Avalanche blockchain protocol. 

The Avalanche protocol is restriction-free — anyone can take part in the network. You don't need any expensive hardware or prior knowledge of blockchain technology.

The market cap of AVAX is over $15 billion, with a circulating supply of more than 240 million AVAX tokens.

Since its launch, AVAX has experienced rapid adoption. Many leading exchanges support it, including Binance and FTX.  

AVAX is unique because it allows transactions at speeds unheard of. It takes seconds to send AVAX, which makes it a perfect choice for merchants and consumers alike. 

The idea behind AVAX is to solve the biggest challenges facing Bitcoin and other cryptos today — scalability and security. 

And that is precisely what AVAX is all about; a fast, secure and scalable digital currency for the real world.

ALGO Overview

Launched in 2019, ALGO is a relatively older cryptocurrency yet still new to the crypto world.

With a total supply of approximately $7 billion tokens, ALGO will soon reach a market cap of $7 billion.

ALGO is native to Algorand, a next-generation public blockchain supporting transactions, settlements, and voting. The platform also allows users to build products on top of the blockchain.

Algorand functions on a new distributed ledger protocol called the Algorand protocol. It was created by Professor Silvio Micali, a Turing Award-winner.

Like AVAX, ALGO aims to serve as a fast, secure, and scalable cryptocurrency. 

Yet, ALGO offers a more established platform with a team of experienced developers. 

Avalanche vs Algorand: Which Is Preferable?

In the Avalanche vs Algorand debate, a few key features make AVAX preferable to ALGO. 

Avalanche uses directed acyclic graphs (DAGs) over the traditional blockchain. This allows AVAX to process transactions at lightning speed.

Also, Avalanche requires a large number of nodes to produce a new block, making it more decentralized. This makes it much more challenging to take down the network.   

The ASIC resistance of Avalanche appeals to a lot of investors. This concept is popular among investors because it allows mining through regular computers, making the process more democratic.

As a result, AVAX has the upper hand over ALGO for speed and scalability.

Yet, in this Avalanche vs Algorand battle, ALGO does have some advantages over AVAX. 

First, ALGO has been around for over two years; hence it is more secure than Avalanche. 

Second, ALGO uses "blinding” to offer high privacy to its users, making it more anonymous than AVAX.

Finally, Algorand has been designed with business in mind. It can handle a much higher transaction volume than Avalanche more efficiently.

A Quick Review of AVAX and ALGO Live Price

While AVAX started at a modest $4, it then grew to $55 in February 2021. Then followed a long volatile period when the price fluctuated between $10, until August — that’s when the coin reached $55 again. AVAX reached a new high of $146 in November, which was followed by a retraction and another downtrend. 

ALGO has had an even more unstable price history, with the value mostly decreasing all the time. From $2.16 to $0.1 and then back to around $2 — those where the price movements of the coin since its launch. 

The AVAX to ALGO exchange rate is about 60 to 1. AVAX is the most profitable investment at the moment. The reason being AVAX is still in its early stages of development, while ALGO has been around for a few years.

To Sum Up: AVAX vs ALGO

In summary, AVAX is a better investment than ALGO due to its faster speed and higher scalability.

ALGO does have some advantages over AVAX, such as its extended history and higher privacy.

For now, AVAX is the better investment option. But as both currencies grow, their difference may become less clear.