AVAX - Avalanche
X-P-C chains
Avalanche has 3 chain design to support specific services to improve overall performance.
Exchange (X) Chain - creating and trading AVAX assets, run on Avalanche Virtual Machine (AVM)
Platform (P) Chain - staking and validation of subnets
Contract (C) Chain - smart contract interaction, support Ethereum Virtual Machine (EVM)
Avalanche Consensus
Subsampled voting
a validator determine accepting or rejecting a transaction by asking a small random subset of validators
accept case
if queried validator replies that it thinks the transaction should be accepted
until a sufficiently large portion (alpha α) of the validators sampled reply that they think the transaction should be accepted, the validator prefers to accept the transaction
the validator repeats this sampling process until alpha of the validators queried reply the same way (accept or reject) for beta β consecutive rounds.
if the transaction has no conflict, finalization can be very quick
reject case
if the queried validator thinks the transaction is invalid the transaction is rejected
when conflicts transactions exist, honest validators cluster around to enter a positive feedback loop until all correct validators prefer to accept that transaction
Snowman++ Consensus Protocol
P-Chain & C-Chain implement the Snowman consensus protocol
X-Chain is also migrated to improve performance, security and scalability
enable batched delegator rewards on P-Chain, reduce gas fees & increase efficiency
increased gas limit on C-Chain, allow more complex smart contracts & transactions
Subnet
Subnet is a sub-chain under the mainnet, inherits mainnet’s consensus protocol but support subnet customizations based on needs.
It solves the most critical balance in blockchain - decentralization, performance, scalability.
Gas fee optimization
stable and minimized gas fee - more subnet, less chance to strive for block with high gas
gas flexibility - be able to assign an alternative token as gas fee
Validator flexibility
effectiveness of validation - validators can overlapping validate subnets & mainnet
permissioned & permissionless - subnet can be configured as private or public chain
customizable validator specification - flexible # of validators & hardware requirements
Performance improvement
prevent chain congestion - a dedicate chain for specific product/service
independent downtime - subnet availability won’t be affected by other subnet
Interoperability - assets & tokens can be transferred to-and-from via bridge
Core Wallet
officially released by Ava Labs who built Avalanche blockchain
support for Bitcoin, Ethereum, and EVM-compatible blockchains
integrated with Avalanche Bridge to transfer native Bitcoin and Ethereum assets to use on Avalanche
Native BTC bridging
bridged Bitcoin is represented by an ERC20 token BTC.b on the Avalanche C-chain
each BTC.b is fully backed by a 1:1 native BTC locked by the bridge enclave application, non-custodial
bridging flow
sends BTC on Bitcoin network to Avalanche Bridge
Warden nodes (composition of AvalancheGO Node, Bitcoin Core, GETH Node) listen to the TX
once the TX is accepted into a block on Bitcoin, 6 out of 8 Warden nodes reported to the Intel SGX application for processing
Intel SGX application (a set of security instructions that enable the construction of private, tamper-proof secure enclaves) mints wrapped assets BTC.b to users' Avalanche address
Enterprise partnerships
Amazon Web Services(AWS) - support Avalanche’s infrastructure & node deployments
Tencent - support Avalanche's node deployments in Asia
Mastercard - crypto-based innovations to traditional financial services
Deloitte - governments’ recovery from natural disasters and public health emergencies
TSM - empower North American esports gaming platform Blitz's payment system
Loco - eSports streaming platform in India with 50+ million users
Togg - mobility services for electric cars
Lemonade Inc - weather insurance for farmers
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