Chain Breakdown: Avalanche
Expanding on the Avalanche Network with dMizar
With the introduction of the Avalanche liquidity incentive program, we’ve seen incredible growth within the Avalanche ecosystem. This growth subsequently led to rampant development within the Avalanche Chain. Along with this growth of decentralized finance (DeFi) applications and protocols, it only makes sense to integrate Avalanche into Mizar. This article dives into the Avalanche network, its ecosystem, and the synergies that have led to not-yet announced partnerships with Mizar!
What is the Avalanche Network (AVAX)?
Avalanche (AVAX) is a layer-0 ecosystem made up of three core Blockchains, each optimized for specific tasks within the network. Built by Ava Labs, it’s focused on providing a secure, low latency & high throughput network by utilizing two different consensus mechanisms (Avalanche & Snowman). Avalanche’s open-source platform facilitates the creation of decentralized applications (dApps), smart contracts, and custom blockchains.
The platform is centered around the AVAX, the native utility token for the Avalanche ecosystem, which is used for paying network fees, staking, and providing a “basic unit of account” between Avalanche subnets
The Avalanche platform has one primary network, which validates its three active chains:
1. The Exchange Chain (X-Chain), is used for the creation of new assets and trading of assets, which is an instance of the Avalanche Virtual Machine (AVM).
2. The Platform Chain (P-Chain), a metadata blockchain that coordinates validators to create/track subnets
3. The Contract Chain (C-Chain), is Avalanche’s Ethereum Virtual Machine (EVM) implementation with a modified PoS consensus mechanism.
With its architecture separated into three separated chains, Avalanche is able to optimize for flexibility, speed, and security. This in turn provides developers and users with a powerful platform to interact with the Avalanche ecosystem based on their needs and use cases.
Avalanche allows developers to build not only dApps on top of the three main chains, but build out their own Virtual Machines, Custom Blockchains as well as mint native ‘smart’ assets that can be traded with a given set of pre-programmed rules.
Avalanche’s solution to scaling is subnetworks(subnets). A subnet is a secondary network built for companies, DAOs, and individuals with their own unique parameters. Both permissions, as well as permissionless, can be created and all subnets are interoperable with other subnets. The Primary Network that validates the three active chains is a special subnet. Therefore, Avalanche can scale infinitely, thanks to subnets' ability to create custom blockchain networks tailored to a specific application or use case.
A key differentiator of Avalanche compared to other decentralized networks is its consensus protocol. Avalanche consensus is a probabilistic model that uses repeated random sub-sampled voting that was first introduced in a paper distributed by a pseudonymous group named Team Rocket. This means that whenever a validator node receives a transaction, it randomly queries other validators until the network achieves consensus. To read more about Avalanche consensus visit Seq’s blog.
Bringing dMizar to the Avalanche Network
Mizar is closely following the developments in the Avalanche Network and is working to bring its advanced tools and automated trading to DEX’s such as Trader Joe and Pangolin through dMizar. With dMizar, we are aiming to bridge the gap between CeFi and DeFi, to make trading more intuitive, affordable, and more inclusive to ensure that everyone, regardless of wealth or industry knowledge!
Join Mizar Today!
Help us build the crypto trading platform you want to use.
Mizar is a next-gen trading platform where traders can search for strategies to securely allocate capital or get access to a wide range of trading tools to put their assets in motion. Mizar makes trading simpler and more accessible to everyone, subscription-free.