Introduction
Blockchain technology keeps evolving, and need to meet up to standard continues to be a major challenge. Right from inception during the creation of Bitcoin, the proof of work has being the consensus mechanism in use. The use of proof of Work algorithm did not solve the issue of trilemma, where one has to choose 2 out of 3 and forgo one,the issues are Scalability, Decentralization and security.
However, as time went on, another block chain that had much better features such as low cost,high transaction speed as well as an eco friendly blockchain was introduced in the year 2020 with the aim of tackling the issue of trilemma. The block chain known as Avalanche had the goal of solving the issue of trilemma, and its approach was to tackle each problem, one at a time, through the creation of x-chain, c-chain,p-chain.
Explain x-chain, C-Chain, and P-Chain in detail
X-Chain
It is also known as the Exchange chain. Like the name, it allows users to create as well as exchange token, mainly the Avax token. There are specific standards and rules set in place for every user to meet, before they are able to create or exchange tokens. It is also notable that exchanges and creation of tokens are not free, specific fees are attached to that, and payment of these fees are done using the native Token AVAX.
C-Chain
It is known as contract chain. It allows it users to be able to develop decentralized applications, that makes use of smart contract. It makes use of a consensus mechanism known as the snowman consensus mechanism. Applications that are developed on the Ethereum blockchain are able to work perfectly in the Avalanche block chain due to its compatibility with Ethereum Virtual Machine(EVM).
p-chain
It's full meaning is Platform chain. It is one that encompasses creation of subnets on the block chain, as well as keeping a track of subnets that are active, as well as validators. Subnets are known as group of validators, and are responsible for the provision of consensus that are used on the blockchain.
Explore the Avax Network Platform. (Screenshots required).
• I visited Avax.network
• on the homepage, Developers,individuals, Avalanche-x,press,community and contact are seen.
• I scrolled down and a table is shown,where other blockchain are compared.
I will be talking about each of the option I listed above.
• Developers Option
It shows the validators sub menu as well as the start building menu.
• Validator stats gives information such as total stake, stake rewards,stake ratio,total delegation as well as Total validators.
• Start Building
It gives information about what users are able to perform, using this platform, such as minting of token,integration,exchange, etc..
Individual option
It gives information about solutions sub menu,roadmap sub menu,ecosystem sub menu,Avalanche wallet sub menu,Avalanche bridge sub menu,Avalanche explorer sub menu
Avalanche wallet
With just a click on the create wallet option,and imputing the necessary details, users are able to create wallet.
• Avalanche Ecosystem
It gives information about Defi,NFT,Explorer,Exchange,etc.
Avalanche-X
It is composed of Explorer open grant, and submit a general proposal.
• submit a general proposal
It entails,application process,grant process as well as its requirements.
• Explore Open grants.
It encompasses stable coin,lending,synthetics,derivatives as well as decentralized exchanges.
• Press page
It contains press kit, media assets sub menu and press enquiries sub menu.
• Contact us page
Here one needs to input,name,email address, who you are and a message.
• Community page
Various social media platforms such as Twitter,Facebook,Reddit etc are found here.
Show the last verified contract in the C-Chain network and show the Smart contract that was generated at that address. (Screenshots required)
• I visited snowtrace
• on the home page,I clicked on blockchain,a list of submenu appeared where I selected verified contract.
• As seen in the screenshot below,verified contracts are showed .
• The last verified contract is seen above. Additional information is seen below.
Explore the last block generated in the C-Chain network. Screenshots required.
• I visited snowtrace
• on the home page, under blockchain,I selected blocks under the list of sub menu.
• below is a screenshot of the last block generated.
• information about the last block is seen by clicking on it. Check image below.
Explain in details, the Avalanche consensus protocol and snowman consensus protocol.
• Avalanche Consensus protocol
It is a protocol that allows equal rights to its users when it comes to the validation of a block. This protocol does not have anyone or person or leader in charge of block validation, and this simply means that the Avalanche does not need any orders before its protocol proceeds with task, rather, transactions are validated using DAG( directed acyclic graph).
Based on the feature mentioned above, that is noteworthy of this protocol, it has become the fastest, when it comes to transactions that are being validated, as well as decentralization and scalability, when compared with the POW and POS algorithm. Transactions for this protocol are usually in parallel.
• Snowman Consensus protocol
It is one that is associated with the Avalanche consensus protocol. It's responsibility is to create blocks as well as ensure that transactions occur in a linear way, so that recording of smart contracts as well as the transactions on smart contracts are made very easy.
Conclusion.
As Block chain keep evolving to solve the issues associated blockchain technology, the Avalanche has proved to be the best solution, as it is one that does not require control by any leader before blocks are validated. The Avalanche has helped to solve the issue of trilemma as it is more decentralized, scalable and offers secured transactions. It was indeed an awesome lecture and a wonderful ride with you @pelon53. See you next season.
All the screenshots are gotten from Avax.network & snowtrace