Avalanche - the fastest, cheapest and greenest smart contract platform in the blockchain industry. Any smart contract-enabled application can outperform competitors by deploying it on the platform.
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Description of Avalanche
Avalanche appeared on the mainnet on September 21, 2020. Since then, the platform has grown to over 400 individual projects, over $64 million in AVAX are burned, 1,200 individual block producing validators and over 1.3 million community members worldwide. Avalanche's goal - to increase scale without sacrificing decentralization. It runs on three blockchains:
| X-Chain | This network helps to create and exchange AVAX tokens as well as other digital assets. The work of these assets is regulated by changeable rules like the Ethereum token standards. |
| C-Chain | With C-Chain, developers can create smart contracts for DApps. This network partially implements the Ethereum Virtual Machine (EVM), allowing coders to work with EVM-compatible DApps. |
| P-Chain | This network coordinates network validators, keeps track of active subnets and allows new ones to be created. Subnets are sets of validators that provide consensus for user blockchains. |
In the Avalanche consensus protocol, all computers work in parallel to check the confirmations of other validators' transactions randomly. After a sufficient number of repeated random checks, the transaction becomes an existing one. Thanks to this, TPS increases to 6500 TPS, and the processing speed takes less than one second. Snowman works with blocks in a similar way, but in a linear process.
Project benefits
With Avalanche, you can also create custom interoperable blockchains. There are no restrictions on the number of blockchains, but you will need to pay a commission to work with the AVAX token. As blockchain technology develops, new solutions for scalability, interoperability and usability emerge. The Avalanche Network takes a unique approach with three separate blockchains on its platform. Using its own AVAX token and multiple consensus mechanisms, the Avalanche network positions itself as “the fastest smart contract platform in the blockchain industry in terms of time to completion.
Buying a token
AVAX – Avalanche's native token with a maximum turnover of 720 million. All fees on the network are burned by the deflation mechanism. AVAX – Avalanche's native token with a maximum turnover of 720 million. All fees on the network are burned by the deflation mechanism. Three main cases of the token use:
- Using AVAX, you can become a validator and stake or you can do it through another validator. Validators can earn up to 11% APY (Annual Percentage Yield) and set an individual percentage fee for the rewards they receive from Delegators.
- AVAX serves as a common unit of account for all subnets, improving interoperability.
- Transaction fees and subnet subscriptions in AVAX.
AVAX is available on top exchanges and advanced trading pairs in every location.