Deep Dive
1. Purpose
Avalanche is a layer one blockchain, meaning it processes transactions and applications on its own network. Developers can build decentralized finance apps, games, and other services, or create custom Avalanche networks with their own rules. (CoinMarketCap overview)
2. Technology
Avalanche’s Primary Network includes the C Chain for smart contracts, the X Chain for digital assets, and the P Chain for coordinating validators and custom networks. The C Chain supports Ethereum compatible applications, while custom Avalanche layer ones let developers tailor a blockchain to a particular use. (CoinMarketCap overview)
3. AVAX token
AVAX is the network’s native token. Users pay transaction fees in AVAX on the Primary Network, and validators stake AVAX to help secure it. Network fees are burned, meaning they are permanently removed from circulation. (CoinMarketCap overview)
Conclusion
Avalanche is an infrastructure platform for smart contract applications and customizable blockchains, with AVAX powering fees and network security. What kinds of applications will benefit most from its custom network design?
