Avalanche9000 Rolls Out: Blockchain Costs Drop, Development Soars
Avalanche's largest-ever upgrade, Avalanche9000, reduces transaction costs and simplifies the creation of custom blockchains. The update aims to attract developers and boost innovation across its ecosystem.
Dec 17, 2024
Avalanche9000 is the network's largest technical upgrade to date.
Features include cheaper validator operations and transaction fees.
The changes aim to attract developers to build custom blockchains (subnets).
Avalanche, the layer-1 blockchain launched in 2020, has implemented its biggest-ever upgrade, ‘Avalanche9000,’ marking a significant milestone for its ecosystem. The highly anticipated update went live on Monday and is designed to make the network more affordable and accessible for developers and users alike. With technical enhancements, Avalanche looks to further establish itself as a go-to platform for building customized blockchains, referred to as subnets.
This upgrade, also called the Etna upgrade, introduces a series of technical improvements, including seven key proposals. Among these, ACP-77 and ACP-125 are the most notable changes. ACP-77 enables a new type of validator that simplifies launching subnets. By reducing costs for operating these nodes, Avalanche expects more developers and individuals to spin up their own subnets, expanding the blockchain’s ecosystem. This is a strategic move to drive innovation by empowering developers to create their customized networks.
The ACP-125 proposal significantly lowers the base transaction fee on Avalanche’s C-chain, the network responsible for running smart contracts. Previously set at 25 nAVAX (about $0.00000098), the fee is now reduced to just 1 nAVAX ($0.00000004), making it cheaper to process transactions and compute on the main network. This change directly addresses the need for lower costs, encouraging more decentralized applications and users to interact with the platform. For context, one nAVAX equals one-billionth of one AVAX, highlighting the minuscule transaction costs now available to users.
Avalanche’s network comprises three primary chains: the P-chain for staking AVAX and running validators, the X-chain for sending and receiving funds, and the C-chain for smart contracts. Together, these chains provide a flexible and efficient infrastructure for various blockchain activities. However, the Etna upgrade focuses heavily on improving the C-chain and promoting the creation of subnets, key areas for the network's growth.
The rollout of Avalanche9000 follows months of preparation and marks a clear push to attract developers and reduce barriers to entry. Leaders within Avalanche have emphasized the upgrade’s importance in fostering innovation, encouraging new applications, and driving greater adoption of its blockchain technology.
In addition to the technical upgrades, the Avalanche Foundation recently raised $250 million in a successful token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital. This influx of funding provides further confidence in Avalanche’s potential to scale its ecosystem and attract new developers.
With Avalanche9000 now live, the blockchain network has positioned itself as a more affordable, efficient, and developer-friendly platform. By focusing on cost reduction and simplifying subnet creation, Avalanche aims to usher in a new wave of blockchain projects and applications, solidifying its place as one of the leading platforms in the crypto space.