AVAX is the native token of Avalanche, a decentralized, open-source blockchain platform launched in 2020 by Ava Labs. Designed for high throughput and low latency, Avalanche enables developers to build scalable decentralized applications (dApps) and custom blockchain networks. AVAX serves multiple functions within the ecosystem: it is used to pay transaction fees, participate in network governance, and secure the network through staking, where validators lock up AVAX to process transactions and earn rewards. The platform's unique consensus mechanism and tri-chain architecture (X-Chain, C-Chain, and P-Chain) allow for interoperability and flexibility, making it a robust alternative to other blockchain platforms.