Avalanche is the world’s first decentralised smart contract platform with near-instant transaction finality, designed for the size of global banking. As Solidity works out-of-the-box, Ethereum developers can quickly build on Avalanche. People think that blockchains will be sluggish and non-scalable over time. The Avalanche consensus uses a revolutionary approach to the consensus to deliver strong safety guarantees, speedy finality, and high throughput without compromising decentralisation. The Avalanche Consensus Protocol is the consensus mechanism used by Avalanche. Overview of Avalanche Platform Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain) are the three built-in blockchains of Avalanche. The Primary Network validates and secures all three blockchains. All members of all custom subnets must also be members of the Primary Network by staking at least 2,000 AVAX. Exchange Chain (X-Chain) X-Chain uses Avalanche Consensus Mechanism. X-Chain is a UTXO-based chain structured as a directed acyclic graph. The default asset chain for Avalanche’s native AVAX token allows new assets, including utility tokens, NFTs, and smart contract platforms, to be created and traded. The X-Chain is an instance of the Avalanche Virtual Machine (AVM). Contract Chain (C-Chain) The C-Chain is the principal chain that Avalanche users connect with for DeFi and NFT activities, and it hosts smart contracts. It is a linear c...
