Avalanche is a public blockchain and smart-contract platform launched in September 2020. The platform's native cryptocurrency is AVAX.
Avalanche's primary network consists of three interoperable blockchains: the Exchange Chain (X-Chain), the Contract Chain (C-Chain), and the Platform Chain (P-Chain). These chains are used for asset transfers, smart-contract execution, and validator coordination, respectively.
The Avalanche consensus protocol was first described in 2018 in a paper circulated via the InterPlanetary File System (IPFS) by a pseudonymous group known as "Team Rocket".
After the initial release phase, they founded a startup technology company to develop a blockchain network that would meet finance industry requirements. In March, 2020, the codebase, part of the Developer Accelerator Program for the Avalanche consensus protocol, was released as open-source and made publicly available.
In September 2021, the Ava labs foundation secured a $230 million investment from a consortium including Polychain Capital and Three Arrows Capital through the purchase of the AVAX cryptocurrency.
On March 17, 2026, the SEC and the CFTC issued a joint interpretive release (Release Nos. 33-11412; 34-105020) that classified AVAX as a "digital commodity"âÂÂnot a securityâÂÂalongside 15 other crypto assets including Bitcoin, Ether, and Solana. The release established a five-category token taxonomy and placed digital commodities under CFTC rather than SEC jurisdiction. The interpretation applies prospectively and both agencies described it as a bridge measure pending Congressional action on the Digital Asset Market Clarity Act.