آوالانچ AVAX / Avalanche

What Is Avalanche (AVAX)?

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

This is made possible by Avalanche’s unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases.

After its mainnet launch in 2020, Avalanche has worked on developing its own ecosystem of DApps and DeFi. Different Ethereum-based projects such as SushiSwap and TrueUSD have integrated with Avalanche. Furthermore, the platform is constantly working on improving interoperability between its own ecosystem and Ethereum, like through the development of bridges.

Avalanche Built-in Blockchains and Subnets

Avalanche has three primary built-in blockchains.

Exchange Chain (X-Chain)

Used to send and receive funds on the Avalanche network, which is the X-Chain's only function. Additionally, transaction fees are fixed at 0.001 AVAX, and X-Chain provides speed benefits over C-Chain. X-Chain uses directed acyclic graph (DAG) technology.

Platform Chain (P-Chain)

Used for staking AVAX and facilitating validator activities. Users can become a validator or defer to one to collect their AVAX rewards on the P-Chain.

Contract Chain (C-Chain)

Avalanche's chain for decentralized finance, as it is the chain used for smart contract and DeFi apps. Most of Avalanche DApps are housed here and compatible with MetaMask.

These three networks are secured and validated by the Primary Network, a special subnet. All custom subnets need to validate on the Primary Network by staking at least 2,000 AVAX.

Avalanche subnets, or subnetworks, are dynamic sets of validators working together to achieve consensus on the state of a set of blockchains. Every blockchain is validated by one subnet, whereas one subnet can validate various blockchains. Validator nodes can be a member of multiple subnets.

Every subnet validator has an incentive to adhere to an individual subnet's security and resource requirements. Every subnet can customize these incentives and may include token rewards, governance, etc.