Avalanche is a decentralized blockchain platform designed for launching decentralized applications and custom blockchain networks. It aims to deliver scalability, low transaction costs, and quick finality, competing with other major smart contract platforms like Ethereum.
The platform uses a unique consensus mechanism to validate transactions rapidly. Developers can create their own independent subnets, which are customizable networks that can operate with distinct rules and token economics, all while being secured by the main Avalanche network.
Most people buy Avalanche on a major exchange. Binance has the lowest fees and the widest selection — here's the quick version:
The AVAX token is used to pay transaction fees on the Avalanche network, secure the platform through staking, and as a basic unit of account across all its subnets.
Avalanche achieves high throughput and near-instant finality through its novel consensus protocol, which allows thousands of validators to process transactions in parallel without waiting for block confirmations.
A Subnet is a dynamic subset of Avalanche validators working together to achieve consensus on one or more blockchains. It allows for the creation of custom, application-specific networks.