Avalanche (AVAX) is a decentralized platform launched by Ava Labs in 2020, designed to provide a faster, more secure, and efficient way of processing transactions. It operates through three interconnected blockchains: the X-Chain for managing assets, the C-Chain for smart contracts and tokens, and the P-Chain for validator coordination and subnets. AVAX is the native token used within the Avalanche ecosystem for transactions, staking, and network security.
Avalanche aims to address scalability, interoperability, and usability issues in blockchain technology, offering high transaction speeds, low fees, and the ability to create customized blockchains through subnets. The platform utilizes the Avalanche consensus protocol and Snowman consensus protocol to enhance security and efficiency, making it a standout in the blockchain industry.