Profile: Avalanche (AVAX)
Avalanche is an open-source platform for launching decentralized finance (DeFi) applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem.
It launched in September 2020 as the first smart contracts platform that can confirm transactions instantly, support the entirety of the Ethereum development toolkit and enable millions of independent validators to participate as full block producers.
In addition to supporting sub-second finality, Avalanche is capable of throughput orders of magnitude greater than existing blockchain networks (4,500+ transactions/second), with safety thresholds well above the 51% standards of other networks. Its unique consensus protocol combines strong safety guarantees with rapid finality and high throughput, without compromising decentralization.
This high performance has empowered rapid growth on the platform. Since a bridge connecting Avalanche and Ethereum launched in early February, smart contract activity on the platform has boomed. In that time, smart contract transactions have increased by 1,279% to over 750,000, and unique wallets increased by 1,991% to top 45,000.
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