What is Avalanche?
Avalanche (AVAX) is an open-source, decentralized Layer-1 blockchain developed by Ava Labs and launched in September 2020. Its architecture consists of three interconnected blockchains: the X-Chain (for creating and exchanging digital assets), the C-Chain (for EVM smart contracts), and the P-Chain (for coordinating validators and setting up Subnets).
Whitepaper: Avalanche Whitepaper
How does Avalanche work?
Avalanche uses the unique Avalanche Consensus mechanism, a Proof-of-Stake-based protocol that combines high speed and low finality through a probabilistic sampling approach (Snowflake, Snowball, Avalanche). Transaction finality is achieved in under 2 seconds, while throughput can scale up to thousands of transactions per second. Subnets (network partitions) provide scalability and flexibility for more specific applications.
The token
Ticker: AVAX
Category: Utility / Governance / Staking
Blockchain: Avalanche Network (Layer 1, with X-Chain, C-Chain, P-Chain, Subnets)
Protocol: Proof-of-Stake via Avalanche Consensus
Launch date: September 2020
The technology behind Avalanche
Avalanche supports EVM through the C-Chain, enabling compatibility with Ethereum-based dApps. The setup with three specialized chains combined with Subnets makes it scalable and adaptable for a wide range of applications – from DeFi to enterprise blockchains. Thanks to the Avalanche Consensus mechanism, decentralization, security, and speed are preserved within a single design.
The Avalanche ecosystem
Avalanche powers a broad ecosystem with dApps, DeFi, NFTs, wallets, oracles, bridges, Subnets, and hundreds of projects. Major players such as Franklin Templeton and Grayscale Investments have shown institutional interest. Since 2023, there has been a partnership with AWS to expand infrastructure and the dApp ecosystem.
Who is the founder of Avalanche?
Avalanche was conceived and co-initiated by Emin Gün Sirer, Kevin Sekniqi, and Maofan “Ted” Yin from Cornell University. Sirer is also the founder of Ava Labs.
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Cryptocurrencies, including Avalanche (AVAX), are volatile and carry risks. The value of AVAX can fluctuate significantly, and investments may lead to financial losses. Always do your own research and only invest money you are willing to lose.
For more information, please refer to the crypto-asset whitepaper, which includes details about the provider, information about the crypto asset, risk information, and details about the asset’s climate impact: https://www.avalabs.org/whitepapers
Whitepaper: Avalanche Whitepaper
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