- Avalanche, has announced the successful launch of the highly anticipated Avalanche9000 upgrade on the mainnet.
- Following the upgrade, AVAX has shown positive price movement, with analysts predicting a potential rally to $70.
Avalanche, has once again taken a monumental step forward with the launch of the highly anticipated Avalanche9000 upgrade on the mainnet. This upgrade has been widely taunted as the most significant upgrade in Avalanche’s history.
Avalanche9000 is live on Mainnet 🔺
Built for everything. Build for everything.
This is the start of… pic.twitter.com/5dwAYxUc9I
— Avalanche9000 🔺 (@avax) December 16, 2024
Most importantly, this upgrade is set to transform the blockchain landscape. In essence, this upgrade will enhance scalability for decentralized Finance applications and reduce costs for gaming developers.
As the ecosystem upgrades, the big question remains whether the development will have an impact on Avalanche’snative token AVAX. Additionally, will AVAX price hit the $70 price mark.
The upgrade will make Avalanche more developer-friendly and cost-efficient. A cornerstone of the update is its ability to reduce the cost of deploying a Layer-1 blockchain (L1) by a staggering 99.9%, drastically lowering barriers to entry for new projects.
Avalanche’s Layer-1 blockchain is known for its application-friendly environment, and the Avalanche9000 upgrade has made it even easier for developers to build decentralized applications (DApps). This move is timely, as hundreds of L1 blockchains are reportedly being developed on testnets. With these advancements, Avalanche is primed to lead an explosion of new projects on its platform in the coming months.
…many L1s that all feel like 1
Avalanche9000 connects every L1 with enhanced Interchain Messaging, meaning all Avalanche L1s can benefit from the collective success of being able to talk to each other and transfer assets. pic.twitter.com/USp3GntHG1
— Avalanche9000 🔺 (@avax) December 16, 2024
The upgrade also includes significant changes to how validators operate. Through ACP-77, the validator requirements have been streamlined, allowing specific subnets to operate without mandatory validation of the primary “C-chain.” Additionally, ACP-125 reduces base transaction fees on the network, further decreasing operational costs.
Previously, validators were required to stake a minimum of 2000 AVAX tokens, valued at approximately $100,000 at the current price of $49.97, to participate. Now, dedicated validator sets enable subnets to operate independently of the primary network. This development not only reduces upfront costs for new projects but also provides flexibility for compliance with varying regulatory and jurisdictional requirements. Avalanche has dubbed this critical enhancement the “Etna” upgrade.
Its worth mentioning that Avalanche is venturing into a world best dominated by Ethereum and Solana. Ethereum and Solana are two that have attracted significant developer interest in the DApp sector. Ethereum, the pioneer of smart contracts, boasts a mature ecosystem and a vast developer community, making it the go-to choice for a wide range of DApps, including DeFi protocols, NFT marketplaces, and gaming platforms.
However, Ethereum’s scalability limitations and high transaction fees have led to the emergence of alternative platforms like Solana. Solana, has gained popularity among developers seeking to build fast and efficient DApps, particularly in the NFT and DeFi sectors. While Ethereum remains a dominant force, Solana’s rapid growth and developer adoption pose a significant challenge to its position in the DApp landscape.
Meanwhile, the Avalanche9000 launch has had an immediate positive effect on AVAX’s price. At the time of writing the asset is swapping hands with $49.75 after a 1.51% surge in the past 24 hours.
