The Avalanche consensus mechanism was published in mid-2018 and was implemented by AVA labs. This new consensus mechanism aims to create a network without any leader as all nodes have equal status here.
AVA (
www.avalabs.org) is led by Professor Emin Gün Sirer, one of the most esteemed cryptocurrency thinkers. AVA Labs is powered by this consensus protocol that can achieve high performance and scalability while solving some of the issues present in traditional consensus algorithms.
AVA has been able to demonstrate more than 5000 transactions per second with each transaction taking around 1-2 seconds to process and finalize.