Why Avalanche for the Get Set Play Platform?
The Get Set Play platform will entirely be built on the Avalanche ecosystem. Avalanche is a fourth generation DeFi (decentralized finance) enabled protocol. The network leverages a multi-chain approach to reduce fees and improve programmability.
The protocol combines 3 separate blockchains to accomplish this task. As part of this strategy, the network introduces a multi-language approach to programming. Specifically, Avalanche developers can program smart contracts using multiple virtual machines.
Avalanche combines three separate blockchain networks to achieve superior scalability and functionality. The protocol operates as a frictionless payment system, cryptocurrency, and DeFi ecosystem. The 3 blockchains, the X-chain, C-chain, and P-chain all serve different roles in the network. Together they empower Avalanche developers to create more robust Dapps.
X-chain: The X-chain is the network that is responsible for the issuance of new digital assets. This network supports the creation of new tokens, NFTs Non-fungible tokens, stablecoins, and more. Users can utilize AVAX to collateralize these assets.
C-chain: The C-chain is designed to improve Ethereum developer onboarding. The developers describe this network as a conversion chain. It features a bunch of protocols to help Ethereum developers seamlessly convert their Dapps to Avalanche.
P-chain”The P-chain is responsible for monitoring and validating the state of subnets. These Avalanche-powered blockchains can be set up to meet nearly any need. P-chain is also responsible for hosting many of the network’s DeFi features such as its staking protocols.
Avalanche integrates a Proof-of-Stake consensus mechanism. PoS systems are far more energy-efficient than PoW systems because they don’t rely on miners to remain valid. Instead, users stake their AVAX to qualify as Validator nodes. These nodes run virtual machines and add blocks of transactions to the blockchain.
In terms of scalability, Avalanche is the clear winner. The network’s multi-chain design provides excellent linear scalability. The protocol is capable of sub-second transaction times. According to company bench tests, Avalanche can support up to 6,500 transactions per second and can scale to millions.
In terms of gas fees, Avalanche wins again. The network provides developers and users with some of the lowest fees of any programmable network. Users pay minuscule fees for minting new assets and creating blockchains. These fees are then sent to a burn address. These actions help to bolster the price of AVAX as they reduce the total supply of the token in circulation which helps to drive demand up.
In conclusion, keeping the scalability, security, and efficiency of Avalanche in mind, Get Set Play will be moving forward for its platform to make the user’s experience smooth and effortless.