Avalanche is a public blockchain and smart-contract platform launched in September 2020 by the American company Ava Labs. The platform's native cryptocurrency is AVAX. Avalanche's primary network consists of three interoperable blockchains: the Exchange Chain (X-Chain), the Contract Chain (C-Chain), and the Platform Chain (P-Chain). These chains are used for asset transfers, smart-contract execution, and validator coordination, respectively. The Avalanche consensus protocol was first described in a May 2018 whitepaper published pseudonymously under the name "Team Rocket." A group of researchers from Cornell University, including Emin Gün Sirer, expanded on this description. Sirer and two PhD candidates formed the company Ava Labs to develop the blockchain for use in the financial industry. In March 2020, Ava Labs released the Avalanche codebase as open-source. More information...
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