More Languages
🇲🇽 Español
🇧🇷 Português
⭐️ 中文
What is Avalanche (AVAX)?
Avalanche —— A Smart Contracts Platform built for DeFi
- Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.
- The Avalanche network confirms transactions in under 1 second, supports the entire Ethereum development kit and enables millions of independent validators to participate as full block producers due to its unique architecture.
- The avalanche protocol consists of three architectures: X-Chain, C-Chain, and P-Chain, which separates the execution environment from the chain itself, and provides support for the combination of scalability, modularity, and composability from a design perspective.
- AVAX, the native token of Avalanche, is used for: Peer-to-Peer (P2P) value transfer; staking and securing the network; pays for operations, computation and storage; creation of new blockchains and subnetworks.
Avalanche Key Metrics
| Recent Price | $69.03 |
|---|---|
Market Cap | $15,355,538,195.79 |
Circulating Supply | 220.286.577 AVAX |
Total Supply | 391.128.419 AVAX |
Max Supply | 720.000.000 AVAX |
About Avalanche
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. It is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
A key difference between Avalanche and other decentralized networks is the consensus protocol. Over time, people have come to a false understanding that blockchains have to be slow and not scalable. The Avalanche protocol employs a novel approach to consensus to achieve its strong safety guarantees, quick finality, and high-throughput without compromising decentralization.
AVAX, the native token of Avalanche, is used for:
- Peer-to-Peer (P2P) value transfer.
- Staking and securing the network.
- Pays for operations, computation and storage.
- Creation of new blockchains and subnetworks.
Avalanche Project Group
Avalanche was co-founded in 2019 by Cornell University professor, IC3 co-founder Emin Gün Sirer, computer scholar Kevin Sekniqi, and Facebook Libra protocol HotStuff consensus first author Ted Yin. The mainnet will be officially launched on September 22, 2020.
In terms of investment, as early as 2019, Avalanche has acquired investments from Andreessen Horowitz; Polychain, an investment institution in charge of many star projects such as Nervos and Cosmos; and former CTO of Coinbase Balaji Srinivasan, Metastable, Initialized, and Ramtin Naimi, founder of Abstract Ventures, etc.
Completed a US$12 million private equity round of financing in May 2020, led by Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, Dragongly Capital.
Avalanche Protocol
The Avalanche network confirms transactions in under 1 second, supports the entire Ethereum development kit and enables millions of independent validators to participate as full block producers due to its unique architecture.
The avalanche protocol consists of three architectures: X chain, C chain, and P chain, which separates the execution environment from the chain itself, and provides support for the combination of scalability, modularity, and composability from a design perspective.
- X-Chain (Exchange Chain) acts as a decentralized platform for creating and trading digital smart assets, a representation of a real-world resource (e.g., equity, bonds) with a set of rules that govern its behavior. One asset traded on the X-Chain is AVAX. When you issue a transaction to a blockchain on Avalanche, you pay a fee denominated in AVAX.
- P-Chain (Platform Chain) is the metadata blockchain on Avalanche and coordinates validators, keeps track of active subnets, and enables the creation of new subnets. The P-Chain implements the Snowman consensus protocol. The P-Chain API allows clients to create subnets, add validators to subnets, and create blockchains.
- C-Chain allows for the creation smart contracts using the C-Chain’s API. The C-Chain is an instance of the Ethereum Virtual Machine powered by Avalanche.
Snowman is a chain-optimized consensus protocol–high-throughput, totally-ordered, and great for smart contracts. Snowman is powered by the Avalanche consensus protocol. Both P-Chain and C-Chain implement the Snowman consensus protocol.
Source: TokenInsight
