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Avalanche is an open-source platform for launching decentralised applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first smart contracts platform that processes 4,500+ transactions/second and instantly confirms transactions. Developers can build their own virtual machines and deploy private and public blockchains (subnets) to fit their own applications’ needs. AVAX is the native token of Avalanche. It’s a hard-capped, scarce asset used for paying fees, securing the platform through staking and also provides a basic unit of account between the multiple subnets created on Avalanche.