Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts.
Unlike proof-of-work or proof-of-stake, the Avalanche consensus mechanism does not have one leader processing transactions that get validated by others. Instead, all nodes process and validate transactions by employing a directed acyclic graph (DAG) protocol.