Avalanche Foundations
Powering L1 networks with solid foundations, from Avalanche to Juneo
Last updated
Powering L1 networks with solid foundations, from Avalanche to Juneo
Last updated
Avalanche is a blockchain platform that enables the creation of sovereign Layer 1 (L1) networks, each designed for specific applications. It uses the Snowman++ proof-of-stake consensus protocol, which supports fast finality and low latency, processing and verifying transactions in under 2 seconds. Its native token is AVAX.
An L1 Network is a fully sovereign blockchain network that defines its own rules for membership, tokenomics, and governance. Each L1 network is validated by a dynamic set of validators from the Avalanche network, ensuring consensus on one or more blockchains within the L1. While each Layer 1 validates its own set of blockchains, one L1 network can validate multiple blockchains.
The implementation of L1 Networks offers many benefits:
The performance of each L1 is independent, meaning that the activity on one L1 won’t affect others
L1 creators have complete flexibility to define tokenomics, validator requirements, usage incentives, and other configurations specific to their L1
Validators can choose which L1s they wish to validate, tailoring their participation to their interests
Every validator that wants to validate a L1 Network must be a Validator of the Primary Network.
The Primary Network is a special Layer 1 that orchestrates several blockchains, each serving different purposes:
The Platform Chain (P-Chain), equivalent to the P-Chain on Juneo Supernet
The Contract Chain (C-Chain), equivalent to the JUNE-Chain on Juneo Supernet
The Exchange Chain (X–Chain), equivalent to the JVM-Chain on Juneo Supernet
The P-Chain handles all validator and L1 Networks operations. Its API supports the creation of new blockchains and L1 Networks, the addition of validators to L1 Networks, staking operations, and other platform-level operations.
The C-Chain (equivalent to the June-Chain) is an implementation of the Ethereum Virtual Machine (EVM). Its API supports Geth's API and supports the deployment and execution of smart contracts written in Solidity. This chain is an instance of the Coreth Virtual Machine.
The X-Chain (or JVM-Chain) is responsible for operations on digital smart assets known as Native Tokens. A smart asset is a representation of a real-world resource (for example, equity, or a bond) with sets of rules that govern its behaviour, like "can’t be traded until tomorrow." This chain’s API supports the creation and trade of Native Tokens.
A Virtual Machine (VM) is a blueprint for a blockchain. It runs on all nodes that are validating a specific L1 Network. VM’s generally define transactions that are executed and how blocks are created. Virtual Machines deal with blocks and state. A VM’s functionality is to:
Define the representation of a blockchain's state
Represent the operations in that state
Apply the operations in that state
On Avalanche, builders can deploy a custom virtual machine on their Layer 1 Network.