What Is Avalanche?  A Look at the Popular ‘Ethereum-Killer’ Blockchain

Avalanche is a blockchain that promises to combine scaling capabilities and quick confirmation times through its Avalanche Consensus Protocol

It can process 4,500 TPS (transactions per second). For Ethereum, that number is 14 TPS.

Avalanche’s native token, AVAX, is the 10th-largest with a market cap of $33 billion as of this writing in March 2022, according to data from CoinDesk.

Avalanche went live in September 2020 and has since become one of the largest blockchains.

It has over $11 billion total value locked in its protocol, according to data from Defi Llama, making it the fourth-largest DeFi-supporting blockchain after Terra and Binance Smart Chain.

Avalanche’s thriving DeFi ecosystem contains some of the protocols from Ethereum, such as the lending protocol Aave and decentralized exchange protocol SushiSwap

How does Avalanche work?

In Avalanche, that role is fulfilled by the Avalanche Consensus Protocol, which was first proposed in 2018 by a pseudonymous group called Team Rocket – a precursor to Ava Labs.

It’s also easy to bridge crypto from other chains into Avalanche, simply by connecting your DeFi wallet to a bridge protocol like Hop Exchange and following the instructions