What is the Avalanche Network?

Ronald
Ronald
  • Updated

The Avalanche network is a decentralized platform that aims to offer a highly scalable and secure environment for building decentralized applications (DApps) and executing smart contracts. AVAX is the native token of the Avalanche blockchain, which, like Ethereum, uses smart contracts to support a variety of blockchain projects.

Avalanche uses a consensus algorithm known as Avalanche-X, which allows for extremely fast transaction processing times and high throughput. The network is reportedly capable of processing over 4,500 transactions per second (TPS) and can scale up to 1 million TPS as the network grows.