Multichain 101 : Understanding Avalanche Blockchain Ecosystem

ENEDEX multichain is coming very soon. Multiple blockchain has been prepared for seamless swapping experience accross cryptoverse. But before the release of ENEDEX multichain, let’s learn more about the blockchains that potentially will be in ENEDEX multichain. In this itteration let us deep dive on one of the fastest blockchain in the world, Avalanche!

About Avalanche

Avalanche is a platform developed by Ava Labs that allows anybody to easily produce their own multi-functional blockchains and decentralized applications (dApps).

It is designed to address some of the limitations of older blockchain platforms, including slow transaction speeds, centralization, and scalability — and uses several innovations to do so. These include its unique Avalanche consensus protocol, which promises low latency, high throughput capabilities, and resistance to 51% attacks.

About the Blockchain

At its core Avalanche is built around a system of three interoperable blockchains: the Exchange Chain (X-Chain), Contract Chain (C-Chain), and Platform Chain (P-Chain).

Briefly, the X-Chain is used for the creation of new digital assets, whereas the C-Chain is Avalanche’s Ethereum Virtual Machine (EVM) implementation, and the P-Chain is used for coordinating validators and creating subnets.

Two of these blockchains (the P-Chain and C-Chain) are secured by the “Snowman” consensus, helping to enable high throughput secure smart contracts, whereas the X-Chain is secured by the DAG-optimized “Avalanche” consensus — a secure and scalable protocol that can achieve transaction finality in seconds.

Ava Labs says that by splitting its architecture across three separate blockchains, Avalanche can optimize for flexibility, speed, and security without any trade-offs. This makes it a powerful platform for both public and enterprise use cases since developers have a great deal of flexibility in the types of applications they can build.

The platform is centered around the AVAX, the native utility token for the Avalanche ecosystem, and is used for paying network fees, staking, and providing a “basic unit of account” between Avalanche subnets.

Features Summary

  • Scalability:
    4500 transactions per second per subnet
    which is also faster than Cosmo and Polkadot.

Ecosystem

Avalanche has hundred plus projects built on top of the blockchain, here are a brief list of familiar tokens and their contract addresses that has avalanche version or uniquely built only in Avalanche :

WBTC : 0x408d4cd0adb7cebd1f1a1c33a0ba2098e1295bab
USDT : 0x9702230A8Ea53601f5cD2dc00fDBc13d4dF4A8c7
USDC : 0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E
DAI : 0xd586E7F844cEa2F87f50152665BCbc2C279D8d70
LINK : 0x5947bb275c521040051d82396192181b413227a3
FRAX : 0xD24C2Ad096400B6FBcd2ad8B24E7acBc21A1da64
AAVE : 0x63a72806098bd3d9520cc43356dd78afe5d386d9
MKR : 0x88128fd4b259552a9a1d457f435a6527aab72d42
GRT : 0x8a0cac13c7da965a312f08ea4229c37869e85cb9
SNX : 0xbec243c995409e6520d7c41e404da5deba4b209b
BAT : 0x98443b96ea4b0858fdf3219cd13e98c7a4690588
GMX : 0x62edc0692bd897d2295872a9ffcac5425011c661
COMP : 0xc3048e19e76cb9a3aa9d77d8c03c29fc906e2437
ANKR : 0x20cf1b6e9d856321ed4686877cf4538f2c84b4de
ZRX : 0x596fa47043f99a4e0f122243b841e55375cde0d2
UMA : 0x3bd2b1c7ed8d396dbb98ded3aebb41350a5b2339
KNC : 0x39fc9e94caeacb435842fadedecb783589f50f5f
AMPL : 0x027dbca046ca156de9622cd1e2d907d375e53aa7
QI : 0x8729438eb15e2c8b576fcc6aecda6a148776c0f5
SB : 0x7d1232b90d3f809a54eeaeebc639c62df8a8942f

These are 20 among hundred plus projects that is built on Avalanche

Summary

Avalanche is a highly developed blockchain with unique blockchain structure that enable flexibility and speed for projects that use the chain or built upon it. With numerous projects currently sitting on top of it, ENEDEX users may potentially found their favorite tokens might be available on the ENEDEX Multichain Avalanche.

Do you have a favorite Avalanche based token that you wish to see in ENEDEX multichain?

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