Avalanche is one of the fastest growing blockchain networks for smart contracts and decentralized applications. The platform, which can serve as an alternative to Ethereum, has gained the confidence of many blockchain developers. It prides itself as a fast, low-cost, and eco-friendly smart contract platform.
The fact that it is also compatible with Solidity (Ethereum’s programming language) makes it even more appealing to developers and enterprise users, many of whom are accustomed to the tools offered by the Ethereum ecosystem.
Before going further, here’s a quick summary of Avalanche’s key features:
- The origin of Avalanche is traced to a team that goes by the name “Team Rocket” but the project was developed by a group of researchers from Cornell University
- The Avalanche mainnet was launched in September 2020 and it has already secured over 100 individual projects
- Avalanche supports three primary built-in blockchains, including the exchange chain (X-Chain), platform chain (P-Chain), and contract chain (C-Chain)
- Avalanche allows developers to deploy customizable public or private blockchains that meet their needs
- Avalanche is currently home to a variety of projects in different sub-niches, including DeFi (decentralized finance) applications and popular games
- AVAX, the native token of Avalanche, is a digital asset that is available across top cryptocurrency exchanges and related platforms.