Scalability is one of the major issues of the Ethereum blockchain network. To address this issue Avalanche Blockchain network came into being in 2018 by Emin Gün Sirer, Kevin Sekniqi, and Maofan "Ted" Yin. It has the capability to compete with the Ethereum blockchain as it’s using a consensus mechanism called avalanche consensus which has the ability to better perform in parallel with the Ethereum blockchain network. Well, today in this article we will deep dive into the Avalanche so without wasting more time let’s get started!
What Is Avalanche? A Look at the Popular ‘Ethereum-Killer’ Blockchain
Avalanche is another blockchain network like all other blockchains such as Bitcoin, Ethereum, and others. The purpose behind the development of Avalanche blockchain is to address the scalability issue which was very common in the Ethereum blockchain network, it is also known as "Ethereum Killer". Now, you peeps are thinking why it is called Ethereum killer? Well, Avalanche blockchain has the capabilities to compete and address the problems that arise in the Ethereum blockchain smart contracts.
Avalanche blockchain provides a variety of features such as avalanche consensus, customizable subnets, interoperability, smart contracts, fast transaction, security, and avalanche-X.
Avalanche uses a consensus called "Avalanche Consensus", which means all the settlement on the Avalanche network is done by using Avalanche Consensus. It helps to perform and confirm transactions more than all other blockchain networks.
Furthermore, it also helps the investors to create their own subnet networks called customizable subnets. Network subnetting means the user of avalanche network can create their own mini networks according to their need and business specification. These mini-networks help them in various kinds of businesses such as games or finance. It provides a development tools box, from which you can pick any specific tool according to your business specification and can develop your own networks to fulfill your business needs.
Interoperability is another feature of the avalanche network, which means you can interact with all other types of blockchain networks and can also share assets from avalanches with another blockchain ecosystem. The interoperability is done by using the technology called Avalanche-X gateway, this gateway provides resources to share the assets from Avalanche to another network.
Final Thoughts
Overall, the avalanche network is another blockchain ecosystem that was designed to address the scalability issue. The consensus used by this network is avalanche consensus, which provides a variety of features to compete with the Ethereum blockchain network such as customizable subnets, interoperability, smart contracts, fast transaction, security, and avalanche-X. By using this type of blockchain network users can create their own mini-network to fulfill their business needs.
