Avalanche is an open blockchain platform that was created to run decentralized applications and create various custom blockchains.
Avalanche, an open blockchain platform built for running decentralized applications and creating custom blockchains, will host a live stream on May 2nd at 16:00 UTC.
The main advantage of Avalanche is that it has a high throughput and low latency, making it ideal for scalable applications. The Avalanche network can process over 4,500 transactions per second with only a few seconds of latency.
Avalanche uses a consensus model called Avalanche Consensus, which allows the network to function faster and more reliably than other blockchain technologies. The consensus uses re-voting by validators, which makes the consensus process fast and efficient. For horizontal scaling, Avalanche uses subnets that allow you to create custom blockchains that are compatible with the main network. The number of subnets is unlimited.
The Avalanche network consists of three interacting blockchains:
Platform Chain (P-Chain) — responsible for coordinating validators, keeping track of active subnets and allowing you to create new ones.
Contract Chain (C-Chain) — allows you to create smart contracts that are compatible with Ethereum.
Exchange Chain (X-Chain) — provides fast asset exchange operations.
The project’s token is AVAX, used to pay transaction fees, participate in consensus through staking, and provide infrastructure resources.
News data source: kdj.com
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