Avalanche

Avalanche:

Avalanche is a relatively new crypto project that combines features of other popular blockchains like Ethereum and Polkadot. The layer one blockchain,which was launched in 2020 by cryptographic researchers from the esteemed Cornell University,

supports smart contracts and cross-blockchain interoperability,with a bridge helping Avalanche to connect directly to Ethereum’s rich ecosystem of applications.

Overview High gas fees and slow speeds on Ethereum have incentivized crypto users to adopt highly scalableblockchains like Avalanche,

Fantom and Solana.But Avalanche has done a few things to stand out from the rest, including the construction of the novel snowman consensus protocol.

AVALANCHE OR AVAX

The other unique thing about Avalanche is how it splits the blockchain into three parts PChain The P-Chain The Avalanche

P-Chain allows anyone to create a new blockchain on top of Avalanche.

This is similar to how parachains work on the Polkadot network.The P-Chain uses the snowman consensus,designed specifically for the quick confirmation of transactions,

The C-Chain CChain The C-Chain also uses the  snowman consensus protocol, seeing as it’s a perfect match  for smart contracts.

The C-Chain,which hosts smart contracts on AVAX, is compatible with the Ethereum Virtual Machine,

so this means that Ethereum developers can easily deploy their applications to AVAX. XChain And finally, The X-Chain is where developers can create their  own tokens on AVAX,

much the way the ERC20 token standard works on Ethereum.

Tokens can also trade on the X-Chain via decentralized exchanges. Security This tri-chain design allows the primary  network to concentrate on being the main security mechanism for AVAX,

similar to how the mining system secures the Bitcoin network. Another advantage of this security design is that it enables high throughput on the base layer.

AVAX

Thanks to this, AVAX can clear over 4,500 Transactions Per Second (TPS) even while thousands of nodes are validating transactions.

The team hasn’t set out to simply compete with more established platforms in the space AVAX Ethereum however, AVAX has already begun to integrate with Ethereum,

and a continuation of this trend could benefit both blockchains.

Etherians can use AVAX for low-cost transactions, and AVAX DeFi protocols can expand their reach by connecting with applications on Ethereum.

The Avalanche Foundation recently announced a $220 million investment fund called Blizzard which is focused on key areas of growth across the AVAX ecosystem.

DeFi,enterprise applications, and NFTs. The Blizzard fund should play a key role in growing the Avalanche ecosystem and attracting new development.

So long as gas fees remain high on Ethereum, AVAX is going to keep stealing away users who can interact with DeFi applications and mint NFTs without having to break the bank.

WHAT IS Avalanche?

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