Avalanche was launched in 2020 by Ava Labs. The network is made up of three interlocked chains that offer near-instant transaction finality. Each chain has a distinct purpose - (1) C-Chain: executes smart contracts, (2) X-Chain: handles the creation and exchange of assets, (3) P-Chain: coordinates validators.
The official language for writing smart contracts on the Avalanche blockchain is Solidity, the same as used on the Ethereum blockchain (this helped Avalanche to quickly grow in popularity as Ethereum dApps can be ported easily). In addition, Ethereum’s network congestion problems and high gas fees hugely benefited Avalanche.
Its proof-of-stake protocol, has a few unique characteristics which makes attacking the network extremely difficult (80% of the network would need to be controlled to enable an attack).
Avalanche was developed to address scaling concerns with Ethereum.
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