Get real time updates directly on you device, subscribe now.
In the current crypto market cycle, scaling and innovation seem to be key. With Ethereum struggling with high gas fees, investors and developers are looking for more efficient and cheaper networks to work with.
Consequently, we have seen the rise of improved smart contract platforms such as Solana and Avalanche. In this article, we will give you a thorough overview of their respective cryptocurrencies, as well as a short guide on how to proceed with an AVAX to SOL swap in the most painless way possible.
What Is AVAX to SOL Trading Pair?
Smart contract platforms are driving the market forward. They have given birth to the decentralized finance ecosystem and are essential in deploying decentralized applications. That said, Ethereum, the leader in the market, still relies on mining for transaction confirmation. This archaic technology is not well suited for mass usage and requires obscene amounts of energy. To alleviate this problem, developers have been working on more efficient blockchains. And two of the most successful and promising ones are Avalanche and Solana.
What Is Avalanche?
Created in 2018, Avalanche is a smart contract platform specifically designed to be a powerhouse in the DeFi sector. Unlike other blockchains that rely on a single network, Avalanche uses three different ones: the X-Chain, C-Chain, and P-Chain. Each one of these has a specific role in its ecosystem, which allows for better scaling and cheaper transactions:
- The X-Chain allows for the creation of proprietary assets (tokens) and their exchange.
- The C-Chain allows developers to create Ethereum-compatible smart contracts.
- The P-Chain is used for validation and transaction confirmation.
These networks do not interfere with each other and allow for much more efficient computation of operations on the platform.
The Avalanche blockchain is powered by the AVAX cryptocurrency. It’s used to pay transaction fees on the network, as well as to secure the network by staking.
What Is Solana?
Solana is a smart contract blockchain that claims to be the fastest one on the market. With a theoretical capacity of 50,000 transactions per second, it was built with scalability and efficiency in mind. The project was launched as recently as March 2020 and has seen incredible growth, reaching the top 5 kryptos by market cap in a record-breaking timespan.
This blockchain works on a novel consensus method called proof of history (PoH). In this mechanism, transactions remain extremely fast and conserve their low costs, regardless of the number of users joining the network. Consequently, developers are constantly choosing it as one of the best alternatives to Ethereum, thanks to its speed and versatility.
It is worth noting that Solana is driven by the SOL cryptocurrency. This token can be used for transaction fees but also for making microtransactions known as lamports. Lamports allow Solana to be one of the few networks that can accommodate a large number of transactions, making it ideal for daily payments or microtransactions within a closed network.
How Much Is 1 AVAX in SOL?
The AVAX to SOL trading pair is not a common one on traditional centralized or decentralized exchanges. To exchange AVAX to SOL or vice versa, you would need to go through an extra step for your swap. For instance, you would need to sell your AVAX for USDT, and then buy SOL with these USDT tokens. And because both tokens reside on their proprietary blockchains, it can be difficult to assess the value of 1 AVAX in SOL.
However, there are some handy exchanges that will allow you to directly swap AVAX to SOL. Let’s see how this is done.
How to Exchange AVAX to SOL?
When making an AVAX to SOL swap, you will need to cover some preconditions. For instance, you will need to create a wallet for both AVAX and SOL tokens. Choosing a multi-chain wallet such as TrustWallet will be your best course of action.
Next, you need to find a reliable exchange that proposes the trading pair. Godex.io allows you to swap AVAX to SOL directly, without having to go through USDT or BTC in between. What’s more, you won’t even have to register on the exchange or create an account, for that matter. Simply provide your wallet address, sign the transactionб and you’re good to go!
It’s a great way to swap between these two tokens while retaining maximum privacy in the process. Godex will never ask you for your ID or even your email address.
Conclusion
Avalanche and Solana are both incredibly promising cryptocurrencies. They solve many of the glaring issues of current blockchains and provide an eco-friendly solution for DeFi and NFT marketplaces. Hopefully, this article gave you a good overview of AVAX vs SOL and ways to exchange between these two cryptos quickly, efficiently, and privately.
