What Is Avalanche (AVAX)?
$2 that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat $2. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
This is made possible by Avalanche’s unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases.
After its mainnet launch in 2020, Avalanche has worked on developing its own ecosystem of $2. Different Ethereum-based projects such as SushiSwap and TrueUSD have integrated with Avalanche. Furthermore, the platform is constantly working on improving interoperability between its own ecosystem and Ethereum, like through the development of $2.
Date: April 2020. Type: Testnet Launch
Cascade was Avalanche's first public testnet.
Denali Incentivized Testnet
Date: May 2020. Type: Testnet Launch
Denali was Avalanche's second public testnet. It also incentivized users to run a testnet node but allocated 2,000 AVAX tokens to participants. In total, the event planned to distribute two million tokens to contributors.
Everest Mainnet Release Candidate
Date: August 2020. Type: Testnet Launch
Everest was a fully-featured version of the Avalanche network that acted as the final phase of testing before the launch of Avalanche’s mainnet. It added support for NFT contracts, more advanced smart contract utility, and network fees.
Avalanche Mainnet Launch
Date: September 2020. Type:Mainnet Launch
The Avalanche mainnet launched on Sep. 21, 2020, which featured the release of all three Avalanche chains (the P, X, and C chains). At launch, the network offered support for full EVM (Ethereum Virtual Machine) compatibility and development toolkit through its Avalanche Contract Chain (or C-Chain), which itself is an implementation of the EVM.
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