Those who are fans of blockchain technology carefully follow the development of this technology and the stages it has undergone. Critical problems (such as high data transfers, security, and transparency) for today and tomorrow are waiting for a solution. It is a fact that the ability and capacity of blockchain technology will be the solution.
Blockchain technology is at the stage of development. In the process we call distributed notebook technology Blockchain 1.0, it was possible to transfer information and value between individuals without any central authority. Thus, an irreversible structure emerged in which decentralization was dominant, and everyone could process their data. At this stage, known as the Bitcoin network, the network supports very few transactions.
As Ethereum network, we know; In 2014, new decentralized applications were launched and known as Blockchain 2.0. Previously, a person had to create his blockchain or even start it. Without them, it was impossible to launch a blockchain-based decentralized application. Ethereum created a decentralized finance application (DeFi) and DaPP (smart contract) applications.
In Blockchain 3.0, Avalanche introduces new paradigms like Bitcoin and Ethereum, which are previous applications. Avalanche allows launching a decentralized application defined by a Virtual Machine. The difference between this situation and Ethereum is this: Each app can run on its independent blockchain. Blockchains are validated by a Subnet, a dynamic, unique set of validators. Allows the creation of individual blockchains.
In short, Avalanche does the following:
1- It establishes individual, interoperable blockchains and creates a heterogeneous network with exclusive validator sets.
2- Defines unique blockchains and creates a platform to start and maintain them.
3- It aims to be a platform for creating and trading smart digital assets.
4- It makes it possible to store and transfer value without a central asset or intermediary.
Avalanche Platform uses virtual machines to accomplish these. Smart contracts do the operation of the platform with various capabilities defined as "chain".
These chains are:
X-Chain
It acts as a decentralized platform for X-Chain creation and trading. One of the assets traded in this chain is AVAX. AVAX is the local token of the Avalanche network, and when a transaction is made on its network, the fee is paid as AVAX.
P-Chain
P Chain Another chain inherent to the Avalanche network is the P-Chain that manages metadata about the Avalanche network. (P stands for the platform.) Creating subnets allows you to add verifiers to subnets and create blockchains.
C-Chain
Chain C is a chain built on the network. (C is contractual.) The C-Chain is an example of the Ethereum Virtual Machine powered by Avalanche. Smart contracts can be made on this chain, and they can do anything they can do on Ethereum using the chain's API.
Unlike the Nakamoto protocols, Avalanche consumes very little energy on reconciliation protocols. When there is no work to be done, the system becomes silent, which means lower energy consumption. Avalanche protocols are sustainable and lightweight. However, they are resistant to attacks and safe. They are speedy. They can achieve irreversible precision within 1-2 seconds.
Useful Link's
Web: https://www.avalabs.org/
Linkedin: https://www.linkedin.com/company/avalancheavax/
Twitter: https://twitter.com/avalancheavax
Document: https://docs.avax.network/
Telegram: https://t.me/avalancheavax
Community: https://community.avax.network/
Facebook: https://www.facebook.com/avalancheavax
Youtube: https://www.youtube.com/c/AVALabsofficial
Reddit: https://www.reddit.com/r/avax/
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