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Avalanche Subnet Chain
Most people know Avalanche as an EVM-compatible blockchain that has gained significant traction recently. However, there is much more to Avalanche, including many more blockchains!
Many Avalanche users are only familiar with the C-Chain, which forked the Ethereum Geth client to add support for the Ethereum Virtual Machine (EVM), but there are actually 3 chains in Avalanche’s Primary Network. One of Avalanche’s core innovations is the ability to create highly scalable and customizable blockchains called Subnets.
With limited blockspace and demand rising, fees have risen on the C-Chain. And while there are improvements that can be made, scaling to meet demand requires more blockspace or more efficient use of existing blockspace (i.e. off-chain computation via Layer 2s). Subnets are Avalanche’s solution to this problem.
Instead of forcing all transactions to take place on a single, shared state, Subnets allow developers to launch their own blockchains– creating more blockspace and computation to meet demand.
Subnets, or subnetworks, are a dynamic subset of Avalanche validators that reach consensus on their own blockchains. This definition can feel somewhat formal, so jargon aside, Subnets are effectively ‘Blockchain-as-a-Service’ secured by some portion of Avalanche validators. Put another way, a Subnet is not a blockchain; a Subnet is a group of validators. Today, all Subnets (other than the Primary Network) run a single blockchain.
Avalanche validators don’t automatically run blockchains for any Subnet. Instead, Subnets need to incentivize Avalanche validators separately for their support. Since Subnets can have their own economies with their own native tokens and fee markets, it is likely that Subnet validators will stake and be rewarded in a Subnet’s native token, in this instance $OKAGE.
The Avalanche ecosystem has grown popular over the past year for a number of reasons and quite a few of Avalanche’s strong points are directly applicable to the Okage Subnet. Each of the following functionalities can be leveraged by Okage Inu.
- Fast finality: Avalanche’s consensus mechanism is unique in that it reaches finality on a transaction within a single block, which typically takes 2 seconds on the C-Chain. Similarly, Subnets can achieve this fast finality on their blockchains by using Avalanche’s consensus mechanism.
- Unbounded number of validators: Allowing more validators on a network means more decentralization. Avalanche’s consensus mechanism is able to maintain fast block times while increasing to an unbounded number of validators. This is in contrast to many other PoS consensus mechanisms that slow down as the number of nodes in the network increases.
- Future Subnet Interoperability: Most Subnets will likely want to connect to existing blockchains in order to onboard users. While native interoperability within the ecosystem isn’t available yet, the Ava Labs team is in the process of building out Cross-Subnet Transfers, bridging Avalanche’s Primary Network (P, X, and C Chains) and Subnets alike. In the meantime, each Subnet can choose a 3rd party option to support bridging to and from their ecosystem.
These components of Avalanche allow OkageChain to arise as the definitive memecoin chain, moving past the limitations that other EVM impose on the rapidly blossoming phenomena.