Avalanche is a deployment environment that provides an interoperable and highly scalable ecosystem for distributed applications and enterprise blockchains. Avalanche is the first decentralized smart contract platform built for global financial scale with near-instant transaction Finality.

Avalanche is a platform platform that ultimately consists of thousands of subnets, forming a heterogeneous interoperable network of many blockchains that leverages the revolutionary Avalanche Consensus protocol to provide a secure, globally distributed, interoperable, and trustless framework that provides unprecedented decentralization, At the same time, it can meet regulatory requirements.

The foundation of a distributed system is a protocol between a set of computer nodes. Thus, the consensus protocol that enables a set of nodes to agree is at the heart of blockchain and almost every large industrial distributed system deployed. However, this proposition has been studied for nearly 50 years. So far, two protocol clusters have been produced: classical consensus protocol which relies on communication between all nodes, and Satoshi consensus which relies on proof of workload. While classic consensus protocols have low latency and high throughput, they are not scalable to large numbers of participants and are not strong in the case of membership changes that do not reduce their license because traditional protocols are mostly deployed statically. The Nakamoto consensus protocol, on the other hand, has a high degree of consensus, but has high confirmation delays, low throughput, and requires continuous energy consumption to ensure its security.

Avalanche protocol combines the advantages of classical Byzantine consensus protocol, which relies on communication transmission, and Satoshi Consensus protocol, which relies on proof of work to create a chain structure, thus solving the problems of poor scalability and robustness of classical Byzantine consensus protocol, high latency and low throughput of Satoshi Consensus protocol.

Avalanche's Avalanche protocols combine the best features of the classic consensus protocol with the best features of the Nakamoto Consensus. They are based on lightweight network sampling mechanisms that enable low latency and high throughput without the need to agree on the precise membership of the system. The number of participants directly involved in consensus agreements has expanded from thousands to millions. In addition, these protocols do not utilize PoW excavation, thus avoiding their excessive energy consumption and subsequent value leakage in the ecosystem, making them relatively ideal lightweight, environmentally friendly and static protocols at present.

Pay gas, pledge to secure the network, and provide a basic unit of account between the multiple subnets created at Avalanche.

Based on random sampling and metastable decision-making mechanism of the new consensus, the consensus for the dependence on communication transmission classic Byzantine agreement protocol and depend on the effort to prove that the creation of the chain structure of the our advantage of consensus agreement, at the same time solve the classic Byzantine agreement protocol scalability in the weak, poor robustness and the chung consensus, high throughput and low delay, and the problems of excessive consumption of resources.

Avalanche uses a three-tier network structure that separates the execution environment from the chain itself, enabling a combination of scalability, modularity, and composability from a design perspective. 1. Exchange chain (X) acts as a decentralized platform for creating and trading digital smart assets, representing a set of rules with real world resources (e.g., stocks, bonds) that govern the behavior of the public chain, such as "tomorrow" or "to US citizens only". The asset that trades on the X chain is AVAX. When a user makes a transaction to the blockchain on Avalanche, the user pays an Avax-denominated fee. X-chain is an instance of the Avalanche Virtual Machine (AVM). The X-chain API allows users to create and trade assets on x-Chain and other instances of AVM. 2. Platform chain (P) is a metadata blockchain on Avalanche that coordinates validators, keeps track of active subnets and creates new ones. The P-chain implements the Snowman consensus protocol. The P-chain API allows clients to create subnets, add validators to subnets, and create blockchains. 3. Contract Chain (C) C-chain Allows you to create smart contracts using c-chain apis. C-chain is an instance of an Ethereum VIRTUAL machine supported by Avalanche.

AVAX has capped the supply of tokens at 720 million. The Trands block will generate 360 million AVAX tokens. The remaining 360 million tokens will be minted following the token increase formula. By adjusting the control conditions, pledging for the longest time resulted in an additional 11.11% of token mints, thus incentivizing stakeholders to invest for the long term. Due to the supply cap, the release mechanism still ensures that AVAX tokens will not exceed 720M regardless of governance changes.

AVAX is the native token for Avalanche's main network. Each verifier of any subnet must verify the main network and pledge at least 2000 AVAX. As with other consensus approaches, there is no limit to the number of validators, which can meet the needs of tens of thousands or even millions of validators. Since each validator validates the main network, this can be a source of trust for interoperability between subnets and connections to other ecosystems, increasing AVAX's transaction costs. Avalanche has no sequester, so there is no risk of losing AVAX when choosing a validator. Instead, if the validator misbehaves, the reward used for staking can be sequested. Athereum will also have a separate subnet that acts as a "spoon" or friendly fork for Ethereum, benefiting from the Avalanche Consensus protocol and apps in the Ethereum ecosystem. Its native token ATH will be airdropped to ETH holders as well as potential AVAX holders. This can also be applied to other blockchains. Transaction fees on all 3 blockchains' main networks as well as subscription fees to create subnets and blockchains are paid and burned in AVAX, creating deflationary pressures. AVAX is a fixed capped supply of 720 million tokens, creating scarcity rather than an unlimited supply, and like everyone else, tokens keep growing at a compound rate each year. Initially 360 tokens will be minted on the main network, with ownership periods ranging from 1 to 10 years, gradually unlocking tokens each quarter. The circulating supply is 24.5 million AVAX and tokens are released gradually on a quarterly basis.

The main difference between Avalanche and other decentralized networks is the consensus protocol. Over time, there was a misconception that blockchains had to be slow and unscalable. The Avalanche protocol takes a novel consensus approach to achieving its strong security guarantees, fast certainty, and high throughput without compromising decentralization.

Avalanche is also a big draw for businesses, as they can build both licensed and unlicensed blockchains, as well as create subnets that comply with regulations. The combination of sub-second certainty and high throughput makes it the perfect platform for the transition between payments and securities trading.

"Only three times in the 45-year history of distributed systems have we had a new family. Avalanche is a brand new family, as big a breakthrough as Satoshi's deal; It combines the best of Satoshi with the best of classic consensus in a unique way that allows anyone to immerse themselves in the consensus layer." - Emin gnu Sirer

Code vulnerabilities, and other public chain competition.

Avalanche network is an interoperable public chain project that allows anyone to build sub-blockchains and circulating assets on it, which means anyone can customize their blockchain deployment. An important part of the interaction between sub-blockchains and the platform is the value transfer of AVAX native tokens. It currently supports transaction confirmation in less than one second and supports the full suite of Ethereum development tools and millions of network validators simultaneously.