Avalanche is recognized as a fast platform, environment-friendly, and highly scalable as it adopts a proof-of-stake consensus algorithm together with having a DAG (Directed Acyclic Graphs) network structure.
DAG is structured differently from blockchains. That is to say the blockchain we are familiar with has a linear structure, block 1 is connected to block 2 and block 2 is connected to block 3, etc. While the structure of the DAG is similar to a spider web. This allows data to be connected in any direction. Transactions can be processed or confirmed in parallel (Parallel Processing). There is no need to wait for the previous block to be confirmed before proceeding with the next block.
Another interesting thing is that Avalanche is not just a single blockchain network. However, it is a combination of three networks that work together to form the Avalanche platform. Each network has a name and function as follows:
1. Exchange Chain (X-Chain) — Mainly responsible for exchange of value, with AVAX tokens as a medium of exchange.
2. Platform Chain (P-Chain) — Developers can create subnets via P-Chain.
3. Contract Chain (C-Chain) — Developers can create Smart contracts using C-Chain's API.
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