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Avalanche Ecosystem
The Avalanche Ecosystem ave.change is
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Avalanche, formerly known as Ava/ Ava, is an open source blockchain platform designed for decentralized finance (DeFi), It was co-founded by Cornell University professor and IC3 co-founder Emin Gn Sirer, computer scientist Kevin Sekniqi, and Ted Yin, lead author of Facebook's Libra protocol HotStuff consensus. Avalanche protocol realizes the combination of classic consensus and Satoshi consensus. In the process of verifying information, there is no need to compare with the nodes of the whole network, as long as the majority of the N nodes are randomly selected, and then the whole network nodes repeat the process. This form of verification between nodes, like a snowball on a mountain, gets bigger and faster, and therefore more scalable, secure and fast than a decentralized network. Avalanche is a new public chain driven by consensus. Avalanche actually offers better performance, security, and efficiency than other public chains like Bitcoin, Ethereum, and Boca. Avalanche protocol platform features enterprise-level collaboration and high scalability. The first smart contract platform to validate in less than a second, the platform supports the entire Ethereum development kit and allows millions of independent verifiers to participate as miners. Avalanche's growth has been phenomenal. Back in 2019, Avalanche was funded by AndreessenHorowitz for over a billion dollars, And Polychain, founder of former Coinbase CTOBalajiSrinivasan, Metastable, Initialized, and AbstractVentures, who backed star projects like Nervos and Cosmos And other institutions and investors. Avalanche completed a $12 million private funding round in May 2020, led by GalaxyDigital, bitmain, InitializedCapital, NGCVentures and DragonflyCapital. ContinueCapital, FundamentalLabs, SNZ, IOSGVenture, youcoin and other institutions and individuals will follow. It raised $42 million in a public offering. In terms of protocol architecture, Avalanche built three blockchains based on the main network, namely platform chain (P chain), exchange chain (X chain), and contract chain (C chain). P chain, the platform chain, is mainly responsible for pledging tokens, coordinating network verifiers, and creating custom subnets. X chain, the transaction chain, deals mainly with the function of creating assets and trading assets between individuals point-to-point. C chain, smart contract chain. C chain is a default smart contract blockchain that can execute ethereum virtual machines (EVM) super fast. Through the division of labor and collaboration among them, network authentication, new chain issuance, asset creation and circulation, cross-chain and smart contract deployment are supported. With these advantages, avalanche AVAX has attracted many ethereum community developers to join, prompting spontaneous recognition of Avalanche AVAX technology. AVAX already has the advantages of blockchain 3.0 with the above combined technical capabilities. At this point, V praised the underlying technology of Avalanche protocol AVAX, even comparing avalanche protocol AVAX to Bitcoin.
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