Avalanche is an open, programmable smart contracts platform for decentralized applications.
Avalanche is a Layer 1 blockchain that allows users to build decentralized applications, smart contracts, and custom blockchains Avalanche has a unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain, and P-Chain.
Each chain has a different purpose, which differs from the approach of Bitcoin or Ethereum, in that all nodes validate every transaction. Avalanche blockchains even use different consensus mechanisms based on their use cases. The native token, $AVAX, has is utilized in governance and earns staking rewards. It has over $11 billion total value locked in its protocol.