Fastest smart contracts platform by time-to-finality
What is Avalanche?
Avalanche is an open-source platform for developers to develop decentralised applications (dApps) that is scalable. Avalanche differentiates itself from other smart contract-based blockchain through its solutions to the scalability problem. Avalanche implements its own Avalanche Consensus Protocol which is not only is decentralised, but is very highly scalable. This protocol is divided into a number of steps: Slush, Snowflake, SnowBall and Avalanche. The Avalanche network itself consists of three built-in blockchains: X-Chain, P-Chain and C-Chain. Each of this chains or called Subnets have their own sets of validators, and each blockchain is validated by only one subnet. All blockchains that are built on Avax, will have one of these three subnets as validators.
AVAX is the native token for Avalanche. It is used to secure the Avalanche network through staking. AVAX is also used for transaction fees for the dApps that are running on Avalanche network. These fees are then burned, therefore reducing the total supply. AVAX itself has a hard capitalisation, and therefore the token is deflationary.