What is Avalanche?
Avalanche is an open source smart contract platform to launch decentralized finance (DeFi) applications and enterprise blockchain deployments with a scalable infrastructure that can interoperate with different blockchains.
The Avalanche network validates transactions in under 1 second, supports the entire Ethereum development kit, and enables millions of independent validators to participate as full block producers.
AVAX is the Avalanche network's own cryptocurrency. It is possible to buy AVAX while buying TRYB on Avalanche.
It has the following uses:
- Peer-to-peer asset transfers
- Securing the Avalanche network
- Processing fee
- Use it to create new subnets and chains