What is Avalanche?
Avalanche is known for its unique consensus mechanism, called Avalanche Consensus, which combines classical and Nakamoto consensus methods to achieve high throughput and low latency while maintaining decentralization. Avalanche is a decentralized, open-source Layer-1 blockchain that uniquely combines a tri-chain architecture (C-Chain, P-Chain, and X-Chain) with customizable Layer-1 networks (formerly known as “Subnets”), enabling diverse applications and sovereign blockchains within its ecosystem.[1] It was developed by Ava Labs and launched in 2020.