promising competitor of Ethereum – Corporate News – Finversia



Avalanche is a promising Ethereum competitor

Blockchain platforms capable of creating and operating smart contracts are becoming increasingly popular among investors. While no one doubted Ethereum’s dominance a few years ago, there are now several promising new entrants to the market, behind which influential funds are hiding. If, for example, the Alameda Foundation develops Solana, then Avalanche is supervised by Polychain.

The structure of Avalanche differs from the usual networks: it is represented by a heterogeneous network of many blockchains. There are three main components – two blockchains (C-Chain and P-Chain), as well as a directed acyclic DAG graph, where transactions are not recorded in chronological order, but are directly related to each other, so you don’t have to wait until they are added to a block … C-Chain allows easy portability of Ethereum based applications, while P-Chain is responsible for the implementation of the main protocols of consensus. There is also X-Chain, a decentralized platform where users can create new assets and exchange them between Avalanche subnets.

Advantages of Avalanche: flexible customization options, scalability (the PoS mechanism protects against Sybil attacks), as well as high throughput – the “Snow family” protocol family allows all Avalanche-based networks to process up to 4.5,000 transactions per second.

The network was launched in September 2020. Since then, the project token has increased in value by more than 2000%, the market cap has reached $ 14.1 billion – 13th in the cryptocurrency rating.

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