Avalanche aims to become an eco-friendly blockchain platform that will enable fast transactions and low fees.
Avalanche is considered one of Ethereum’s biggest rivals. This is because Avalanche network can process around 6500 transactions per second without sacrificing scalability.
The reason for a high transaction speed lies in the Avalanche unique architecture.
Avalanche consists of three separate blockchains:
- Exchange Chain (or X-Chain) - a blockchain that is responsible for all transactions within the Avalanche system.
- Contract Chain (or C-Chain) - a blockchain that allows developers to create decentralized applications on the Avalanche platform.
- Platform Chain (P-Chain) - blockchain that allows you to build layer 1 or layer 2 blockchain.
The Avalanche network has a native AVAX token.