A quick look at what sets Avalanche Protocol Avalanche apart

Avalanche uses a unique three-layer network architecture that separates the execution environment from the chain itself.

A quick look at what sets Avalanche Protocol Avalanche apart

CryptoArt: [artbynafay] The Red Eclipse

This investment research report is issued by CoinMeng Research Institute, the content of the report is for reference only and should not be used as investment advice or investment basis.
↯ The data in this report are as of 2021/5/29 and may differ from the actual situation at the time of publication, please verify yourself.

01 Brief description of the project
Avalanche is a public chain serving DeFi applications. It uses an innovative consensus protocol architecture to separate the execution environment from the chain through a three-layer network structure (X-chain, P-chain, C-chain), and supports Ether EVM and various mature Ether development tools to create a highly scalable, modular and multi-chain interoperable public chain system.

02 Project Interpretation
2.1 Technical Architecture
Avalanche adopts a unique three-layer network structure, separating the execution environment and the chain itself, divided into X chain (transaction chain), P chain (platform chain) and C chain (contract chain). The entire Avalanche network runs on the “Snow” series of consensus protocols, which combines Byzantine consensus protocols and proof-of-work protocols, and derives three parts of protocols, Avalanche, Snowman and Frosty, with X-chain using the Avalanche protocol and P-chain and C-chain using the Snowman protocol.

X Chain (Trading Chain): This chain is used to create and trade assets on the chain and requires the payment of AVAX tokens (Avalanche native tokens) as transaction fees. x Chain uses the Avalanche Virtual Machine (AVM) and the X Chain API allows users to create and trade assets on X Chain and other chains that use AVM.

P Chain (Platform Chain): This chain is used to coordinate authentication nodes, as well as to create and track subnetworks. Subnets are a feature of Avalanche that allows users to create subnets through the P chain and incorporate some of the validation nodes into the subnets to form a consensus system to create new blockchains using AVM or EVM. The same node can join and validate multiple subnets, coordinated by the P-chain.

C-chain (contract chain): This chain is used to create and execute EVM smart contracts, build DApps, and is equivalent to the application layer of Avalanche.

2.2 Technical Features
EVM compatible: Avalanche supports EVM smart contracts, which facilitates the migration of various applications from the existing Ethernet ecosystem to the Avalanche network and is more user-friendly for users and developers.

Consensus protocol advantage: “Snow” series consensus protocol combines Byzantine protocol and proof-of-work mechanism to complement each other’s strengths, which can achieve high throughput, low latency, high scalability and high security, with TPS up to 6000.

Repeated sampling mechanism: The “Snow” series consensus protocol builds consensus by repeated sampling operations. After the event is created and sent to the verification node, each node will randomly select a fixed number of neighboring nodes to ask, if most of the nodes have the same description of the event, then it is judged to be true, if most of the nodes give different answers, then the content of the event will be switched, and the repetitive sampling will be performed several times until it reaches confirmation, and this process will be very fast. This mechanism makes the whole network more decentralized by involving many nodes in the verification process.

2.3 Current Development
Avalanche has already cooperated with several blockchain infrastructures including Chainlink, DeFi project, and launched Avalanche-Ethiopia Asset Cross-chain Bridge in March this year. At present, the number of verified nodes on the Avalanche chain has exceeded 900, and the number of on-chain ecological projects has exceeded 130, which is a leading position among emerging public chains.

A quick look at what sets Avalanche Protocol Avalanche apart

03 Team / Financing
3.1 Core Team
Founder/CEO: Emin Gun Sirer

Co-founder of bloXroute Lab, a blockchain distribution network platform, from January 2017-June 2019, joined AVA Labs (Avalanche’s parent company) full-time in May 2019 as CEO.

Co-Founder/Chief Architect/CPA: Ted Yin

CPA, student of Prof. Emin Gun Sirer (PhD), co-author of Facebook Libra consensus protocol Hotstuff, and passionate about designing and building practical distributed systems. His main work includes the “Snow” family of consensus protocols and the HotStuff protocol, which is the underlying consensus protocol used by Facebook Libra.

Co-founder: Kevin Sekniqi

PhD candidate in computer science at Cornell University, working on distributed systems, cryptography, security, and economics. Previously, he worked in research and software engineering at leading organizations including Microsoft and NASA JPL.

Global President: John Wu

John Wu has over 20 years of experience as a FinTech executive, most recently as CEO of SharesPost Digital Assets Group and technology investor in companies such as Tiger Management, Kingdon Capital and Sureview Capital (backed by Blackstone). Group), among others. He founded the software services platform Investery, which was later acquired by Avalanche.

3.2 Investment Institutions
In February 2019, Avalanche closed a $6 million Series A funding round with participation from institutions and individuals including a16z, Polychain, former Coinbase CTO Balaji Srinivasan, Metastable, Initialized, and Ramtin Naimi, founder of Abstract Ventures, and others.

In May 2020, Avalanche closed a $12 million private placement round led by five institutions – Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, and Dragonfly Capital – with Continue Capital, Fundamental Labs, SNZ, YouCoin, and other institutions and individuals participated.

On July 15th, 2020, Avalanche fully closed its public funding round of approximately $42 million.

In total, Avalanche has now received approximately $60 million in investments and has sold approximately 110 million AVAX, representing approximately 15% of the total tokens (720 million).

04 Economic Model
4.1 Basic information
Token name: AVAE

Total number of tokens issued: 720 million AVAX

Initial issue: 360 million AVAX

Token usage: node pledge; decentralized governance; transaction fees

Token allocation.

Team and Founders: 10% (4 year unlock)

Foundation: 9.26% (10 year unlock)

Mining Rewards: 50%

Seed round: 2.5%

Private round: 3.46%

Public round: 10%

Airdrop: 2.5%

Test Bonus: 0.28%

Community: 7%

Strategic Partners: 5%

A quick look at what sets Avalanche Protocol Avalanche apart

4.2 Price Information
Note: Information below is from CoinGecko

Current price: $17.28

Current Market Cap: $2.23B (based on estimated liquidity)

Market cap after full release: $12.4 billion

All-time high: $ 59.4 (2021/02/10)

All-time low: $2.8 (2020/12/31)

On-line CEX: Coinan, OKEx, Huobi, etc.

On-line DEX: Uniswap, Sushiswap, etc.

05 Project Analysis
Avalanche has a big advantage over its competitors in terms of the number of nodes, decentralization, and number of ecological projects.

On the technical level, Avalanche uses the “Snow” series consensus protocol, which can achieve 6000 TPS, has the characteristics of high performance, high throughput and low gas, and is compatible with EVM. Ether congestion.

At the funding and backing level, since the release of the Avalanche white paper in 2018, it has attracted over $60 million in funding from many institutions and individuals, including well-known institutions such as a16z, Polychain, NGC Capital, and Bitmain. And with deeper cooperation with projects like Chainlink, Sushiswap, MakerDAO, etc., Avalanche’s future development is worth looking forward to.

From a comprehensive perspective, Avalanche is a relatively high-quality public chain project, but its future development is strongly correlated with market conditions. If the market continues to be volatile, the demand for new public chains will continue to weaken.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a-quick-look-at-what-sets-avalanche-protocol-avalanche-apart/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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