Avalanche Blockchain - Crypto Academy - S5W8 : Homework Post for Prof @pelon53
created by me using PixelLab
Hi my belove Prof & friends. I hope we are all well and happy. Today, I am here to present a homework post for the esteemed Mr @pelon53 in the last week of Season 5 of the Steemit Crypto Academy.
from day to day time after time the blockchain technology constantly progressing, new blockchains are born and develop with unique and useful features. this is the result of the Blockchain Developer's efforts trying their best to develop a blockchain which should be more efficient decentralized, and secure, than existing blockchains. one that is currently developing is the Avalanche Blockchain.
This blockchain was developed by three people, namely Kevin Sekniqi, an Emin Gün Sirer, and also Marfan "Ted" Yin, Avalanche Blockchain was launched in September 2020. it is a unique and interesting blockchain, because it consists of three chains that perform their respective functions. For more details, please see my review below until it's finished.
X-Chain
The first one we answer is X-Chain, this is a place where any user is possible to create new assets, perform asset exchanges and transfers. This is possible because it is based on a protocol that we can modify, such as the ERC standard. X-Chain also has another name, namely exchange chain. This X-chain is beneficial for every user to make trades based on multiple Avalanche consensus protocols, one of them is like etherum network. Every transaction made by a user in this chain requires a regular, Transaction fee is paid in AVAX tokens.C-Chain
The second is C-Chain, the chain allows us to be able to build decentralized applications on the network. Usually this is what developers like the most. C-chain itself is based on the protocol that is on the consensus snowman, so the developers are here can run things like erc20 tokens, DApps and also run NFT in this chain. and enables the creation of Ethereum compatible smart contracts. Just like on X-Chain, The fee or fee for the creation of the smart contract is paid in the form of AVAX tokens.P-Chain
The function of the P-Chain is to allow the creation of new subnets, tracking (tracking) and can also manage active subnets. The process is carried out by coordinating with the validator. P-Chain or what has another name as this platform implements the Snowman consensus protocol. Which is an extensive version of the Avalanche Consensus Protocol.
Now we will explore the Avax Network platform, to be able to explore this platform I access via this link, and we will see the home page of the Avax network platform.
On the homepage, we will see several menus lined up at the top, including developers, individuals, avalanche-x, press, community, and also contacts. Each Menu has its own sub-menu. I will explain about the menus and sub menus on this platform, please see the explanation below.
The developers feature is where developers can build ethereum Dapps on avalanche, developers can generate tokens, run validators, integrate exchanges, and others. In the developers menu, we will find two sub-menus namely validators & start building.
Validators
From the validators page the user can become a validaro to validate every transaction made in the system by spying on the native token of the avalanche network, namely AVAX.
Start Building
In the second sub-menu from developers, namely start building. Here the user can view the developer documentation, or do things like run the validator, print tokens. In addition, users can also act as developers by building DApps.
The second menu that we can find on this platform is individual. As you scroll down, You will see a list of Exchanges that trade Avalanche's native token i.e. AVAX Token. In this menu section, there are 6 other sub-menus, including:
Roadmap
The first sub menu is a roadmap, The roadmap here is divided into 4 phases, each phase has a coverage period of 3 months. Through the roadmap page, each user can also see the 2021 avalanche blockchain roadmap.
Solution
On this solution page, we can explore some of the existing solutions on this platform. The solution comes in several forms, namely in the form of institutions, and Decentralized Finance, NFT, and also in the form of Government.
Ecosystem
It is a place for users to access multiple avalanche platform ecosystems. The ecosystem I mean is like the one in the picture, like DeFi, Digital Securities, play tpo earn, stablecoins, etc.
Avalanche Wallet
If the user has already created an avalanche wallet, then you can use the registered wallet .But if you don't have a wallet, here I will teach you how to register an avalanche wallet.
Choose create a new wallet.
select the Generate Key Phrase option.
sourceWe will receive Key Phrases, Copy them and keep them in a safe place. then click on the Wallet Access option.
sourceAfter that enter the missing keyphrase and select the Verify option at the bottom.
source
- My wallet has been created and can now manage and store AVAX tokens and other assets.
source
In this section, users can explore transactions that are happening or taking place on the avalanche network.
Avalanche Bridge
This is a link or bridge for users to connect their various types of wallets with avalanche. There are three types of wallets that we can connect, namely, CoinBase Wallet, Wallet Connect.
This Avalanche-X menu is useful for users to get grants on the avalanche network. the grant can be used to develop various projects available on the avalanche network. the process can be completed in three stages, namely submitting an application, then you will be contacted immediately, and the grant will be approved, then can start to build.
The menu or press feature on this platform provides some coverage such as news and also about the community on the platform. This press is useful for users to get updates about current plans, nor about plans that will happen in the future in the avalanche network.
It is a place where users can search for various contacts owned by the platform. The available communities range from Medium, Telegram, Facebook, Discord Chat, Linkedin, Meetup, Clubhouse, YouTube and Reddit, and others. This is a social media community created by the platform to make it easier for users to know the development of the platform.
This is one of the menus that users can use to contact the platform if at any time they need their help.
Previously we have discussed that, smart contracts are created in C-Chain so at this stage I want to tell you about verified contracts on C-Chain. follow the step2 below:
Open SnowTrace and select blockchain menu option, we will see Contract Verification sub-menu, select that menu.
sourceThe Contract Verification list will appear. Choose the contract that comes first. Well that's the latest verified contract. here's a verified contract In my case:
source
| Contract address | 0xE96B508Fa89178063B917Bb3bBe4EA8aD99f2caC |
|---|---|
| Contract Creator | 0x41F1f1b76d3dA0E64e7E0805816C1B7d15300beD |
| TXN Hash contract | 0x04a663e54fe677100852db2288c2caad9981da3a3884d040c3ee0bad03032c31 |
| Contract Name | Treasury |
| Compiler Version | v0.6.12+commit.27d51765 |
I will show the following about the transactions carried ou. One is for open transactions, and the other is for contract creation.
To be able to find out and see the last block generated in the C-Chain network, Just like before, we have to go to this LINK there at the top please select the blockchain menu, and select the submenu as I show in the picture.
- Select Blockchain, and select the VIEW BLOCK sub-menu.
A list of newly created blocks will appear. and Click on the first block i.e., in my case it is 9117586.
- You will be able to explore the block, and know All details about the block given by clicking on the block. this is the last block detail in my case:
| Block Height | 9117586 |
|---|---|
| Timestamp | 39 secs ago (Jan-04-2022 08:36:19 AM +UTC) |
| Transactions | 6 trnsactions and 0 contract internal transaction in this block |
| Burned Fees | 🔥 0.0327956605 AVAX |
| Difficulty | 1 |
| Total Difficulty | 9,117,586 |
| Size | 1,779 bytes |
| Gas Used | 909,421 (11.37%) |
| Gas Limit | 8,000,000 |
| Base Fee per Gas | 0.000000025 AVAX (25 nAVAX) |
| Hash | 0x30afff0168798d2c6c10c6131c770ead21fb7921a30c45aaf1289e8d1186e968 |
| Parent Hash | 0xbe1b987720211dae43050a9c4f1a2c633a24ea4484d8b2b970b9368863851e91 |
| Sha3Uncles | 0x1dcc4de8dec75d7aab85b567b6ccd41ad312451b948a7413f0a142fd40d49347 |
| Nonce | 0x0000000000000000 |
At the beginning, we both know that there are three chains that are joined in the avalanche blockchain. well, as for the protocol, there are two consensus protocols that form a consensus mechanism in the avalanche blockchain. namely the avanlanche consensus protocol and snowman consensus protocol. The following describes the two consensus protocols.
It is a fully decentralized consensus protocol. because here there is no leader to make transactions to be validated. Every transaction made by the user in this avalanche consensus protocol, all validated and also verified in parallel. This tells us that all nodes are present equally and verify transactions efficiently so that transaction speed will increase.
In addition, No blocks are created for transactions and transactions are self-validated in the form of parented transactions (vertex )
it different with various other mechanisms such as Proof of Stake (PoS), or Proof of Work (PoW ) which requires one node to process, and another node to validate. The Avalanche Consensus protocol does not require a leader when reaching consensus. Thus, all nodes will be required to validate transactions by means of a DAG (Directed Acyclic Graph).
Despite the absence of a leader, this will not affect the increase in blockchain decentralization and scalability.
The Snowman Consensus Protocol is a protocol built on top of the Avalanche Consensus Protocol. In this protocol, it is possible to easily record smart contracts and transactions on smart contracts. This is because the protocol creates blocks and orders transactions linearly. So smart contract registration and smart contract transactions take place efficiently.
Snowman consensus protocol is commonly used in C-Chain (Chain of Contracts), i.e. the location where smart contracts are managed and created. This consensus protocol is also used in the P-Chain (platform chain), which is where the subnet is created.
Blockchain Avalanche is indeed the solution to so many shortcomings of the existing blockchains. Blockchain developers are working hard to address the existing scalability issues in the Bitcoin network. To solve this problem, the Avalanche Blockchain consists of three chains, namely X-Chain, C-Chain, and P-Chain. developed.
In addition to consisting of three chains, consensus avalanche there are also two consensus protocols, namely the Avalanche consensus protocol and the second is the Snowman consensus protocol. Avalanche can make up to 4,500 transactions/seconds this certainly makes avalanche a very scalable network. great again, The fees in Avalanche are also very cheap.
