Launched in 2020 by Ava Labs, Avalanche is a blockchain platform that is smart contract-capable. Avalanche aims to deliver a scalable blockchain solution while maintaining decentralization and security, focusing on lower costs, fast transaction speeds, and eco-friendliness.
Avalanche quickly became popular in the cryptocurrency space, with Avalanche TVL currently worth $8.41 billion and still rising across Avalanche decentralized applications (DApps). Avalanche is powered by its native token Avalanche (AVAX) and multiple consensus mechanisms.