What Is Avalanche?
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. It offers many of the same functions as the Ethereum blockchain, but with faster transaction times.
Solutions Powered by Avalanche
Below given the use cases which can be benefited by leveraging the high-performance capabilities of Avalanche.
- Decentralized Finance (DeFi) - DeFi is rapidly growing beyond the limits of one chain. Avalanche is fully compatible with Ethereum assets, apps, and tooling with faster speeds, higher throughput, and lower fees.
- Institutions, Enterprises, and Governments - Avalanche is the best verifiable platform for institutions, enterprises, and governments. Launch assets, build applications, and create subnets with complete control over your implementation with compliance, data security, and other rulesets built into the foundation.
- Digital Collectibles - Mint your own digital collectibles in seconds for fees less than a cent. Digitally prove ownership, and streamline value flow. Create and share art, collectibles, and more with all the benefits and none of the downside.
History Of Avalanche Blockchain Platform
Avalanche started off as a protocol for solving consensus in a network of unreliable machines. The protocol's fundamentals were first shared on InterPlanetary File System (aka IPFS) on May 2018 by a group of enthusiasts named 'Team Rocket'. In March, 2020, the AVA codebase for the Avalanche consensus protocol became open-source and available to public. In September, 2020, company issued its native token Avax.
Roadmap of Avalanche
Q1 2021
Avalanche Platform
Apricot
- 50% Reduction in Transaction Fees
- Removal of C-Chain gas refunds (EIP-3298)
- Improvement in C-Chain block indexing and API upgrades.
- Added monitoring and consensus health check
- Strengthened default security options, and added full support for the Auth API.
- Optimized P-chain verification during bootstrapping
- Various optimizations in the P-chain, C-Chain, and networking library.
Major Milestones
- Avalanche-Ethereum Bridge (AEB) launched
- Pangolin, largest DEX on Avalanche, launched
- $0 to ~$400M Total Value Locked (TVL) across the Avalanche platform
- $1B trade volume across all DEX’s
- $10B+ of AVAX staked to secure Avalanche
Q2 2021
Avalanche Platform
Apricot
- Activates Ethereum Berlin Upgrade
- New C-Chain Precompiles making Avalanche Native Tokens (ANTs) more powerful
- C-Chain/P-Chain Multiple Atomic Transactions per Block
Support more EIPS
- EIP-2565 (ModExp Gas Cost)
- EIP-2929 (Gas cost increases for state access opcodes)
- EIP-2718 (Typed Transaction Envelope)
- EIP-2930 (Optional access lists)
DB Migration
- Database optimization to improve stability and reliability
- ~90% reduction in read IO for a validating node
DB Pruning
- Pruning rejected containers
- C-Chain non-archive sync mode by introducing a “validator” mode that only stores what is necessary to validate the C-Chain.
Major Milestones
- Avalanche reaches 100k AVAX in total transaction fees burned
- Avalanche reaches 950 validators processing transactions and helping secure the platform
- Ava Labs Surpasses 100 Team Members
- Avalanche Wallet V2: Wallet SDK
- Enabling blockchain developers to build their own dApps and wallets natively
- Abstracts low-level implementation details
- Creates a community repository for all wallet related development
- NFT Marketplace V1
Q3 2021
Avalanche Platform
Apricot
- P-Chain Governance
- P-Chain Pruning
- P-Chain Fast Sync
- C-Chain Fast Sync
- C-Chain Dynamic Fees Update
- X-Chain Epochs
X-Chain account history indexing in AvalancheGo
Major Milestones
- New DeFi Lending Platforms
- Initial Litigation Offering (ILO)
- First ILO launched
- New Avalanche Bridge V1
- Industry-first secure bridging architecture
- 5x cheaper than Avalanche-Ethereum Bridge (AEB)
- 2x faster than AEB
- Avalanche Wallet V3: Redesign
- Consolidated wallet workflow
- Additional login options
- Improved security
- Avalanche Wallet V4: Mobile
- Avalanche Wallet V5: Browser Extension
- New Avalanche Bridge V2
- Ethereum Virtual Machine (EVM) Multi-Chain Support
- New Avalanche Bridge V3
- Additional Chain Support
- NFT Marketplace V2: NFT SDK
Q4 2021
Avalanche Platform
Apricot
- X-Chain Dynamic Fees
- X-Chain Pruning
- X-Chain Fast Sync
Blueberry
- Cross-subnet transfers
- Permissionless subnets
- Subnet validation rewards
Major Milestones
- NTT
- DID
- Avalanche Name Space
- Avalanche Wallet V6
- New Avalanche Bridge V4
- ILO V2
Where To Buy Avalanche (AVAX)?
AVAX is supported by most of the crypto currency exchanges.
- Open an account on an exchange that supports AVAX.
- Deposit funds into your account.
- Complete your Avalanche purchase and then transfer them to a wallet you prefer.
