Hey guys, I will be talking about the Avalanche network today. An old blockchain but very new to Top searchers of Blockchain. Keeping it very short, They are layer 1 solution and want to counter Ethereum and others in the same race, like Solana, Polkadot and many more.
They have 3 chains running at the current P-chain, C-chain, X-chain.
P-chain-Platform chain used for management and for staking purposes.
C-chain-Used for keeping Smart Contracts (Like EVM).
X-chain-Used for transactions and other tokenomics stuff.
As you can see here we have 3 blockchains in just a single community and things are already being divided into all these so the load so a single chain is reduced and making it simpler for everyone.
In order to hack this channel or blockchain, you need 81% of consensus inorder to hack or put any malicious contract. You need to bring in very high votes and this is not possible. Whereas in communities like Ether, solana you just need 51% (This is also practically impossible but still an extra layer of security).
They claim that they can support 4500 transactions/sec and that’s really great. So at end wanna they are just behind solana and can have a great future.