What is Avalanche (AVAX)?

Binance Academy · 2023-06-01T09:28:45.000Z

TL;DR Avalanche seeks to improve scalability without compromising speed and decentralization. Three blockchains make up its main platform: Exchange Chain (X-Chain), Contract Chain (C-Chain) and Platform Chain (P-Chain). The X-Chain is used to create and trade assets. C-Chain is used to create smart contracts. P-Chain serves to coordinate validators and Subnets (subnets). One of the protocol's most important advancements is Avalanche Consensus, a method that uses repeated subsampling voting by validators to make consensus fast and accessible. Avalanche also uses subnets as a new method of horizontal scalability, enabling the creation of customizable and interoperable blockchains. There is no limit to the number of possible subnets.