Developed by Emin Gün Sirer in 2018 and officially launched in 2020, Avalanche is an open source platform based on Proof of Stake (PoS) validation. It enables the development of decentralised applications (DeFi), tokens and interoperable blockchains. To do this, the platform uses an extremely powerful consensus protocol that is much less energy-intensive than its competitors. It thus enables almost instantaneous transactions.
The native token of the Avalanche platform is AVAX. It is used to secure the network through staking and to pay fees on the platform. AVAX has seen its price surge since its release in September 2021.