What is Avalanche (AVAX)?

Binance Academy · 2023-03-10T01:43:29.000Z

TL;DR (SUMMARY) Avalanche attempts to improve scalability without compromising speed or decentralization. Three blockchains make up its central platform: Exchange Chain (X-Chain), Contract Chain (C-Chain) and Platform Chain (P-Chain). The X-Chain is used to create and trade assets. The C-Chain is used to create smart contracts. And the P-Chain coordinates validators and Subnets. One of the protocol's most important innovations is Avalanche Consensus, a method that uses repeated subsampled voting by validators to make consensus fast and affordable. Avalanche also uses Subnets as a novel method of horizontal scalability, allowing the creation of customizable and interoperable blockchains. There is no limit to the number of possible Subnets.