- Avalanche’s Cortina upgrade goes live on protocol’s testnet and AVAX token rallies.
- The upgrade improves support for exchanges and enables faster development.
Avalanche’s layer 1 protocol, AVAX token, has surged by 2% following the implementation of its Cortina upgrade on the testnet. According to Avalanche, the upgrade will enhance exchanges’ support for its X-Chain, which the protocol uses to send and receive funds, and speed up development among other benefits. In addition, the protocol has launched “Evergreen Subnets,” a set of financial tools designed for institutions.
Cortina upgrade streamlines exchange support
The implementation of Cortina on Avalanche’s testnet has been instrumental in streamlining exchanges’ support for the protocol’s X-Chain, a vital component of Avalanche’s operations. This development, according to the protocol, will improve user experience and enhance the overall efficiency of Avalanche’s ecosystem.
The X-Chain migrating to Snowman++ means the entire network has moved to a single consensus engine. This reduces the size of the trusted computing base and increases the leverage of existing R&D efforts, which will enable faster development and more broadly-applicable innovation.
— Avalanche 🔺 (@avalancheavax) March 23, 2023
Avalanche introduces “Evergreen Subnets” for financial institutions
Apart from Cortina, Avalanche has also launched “Evergreen Subnets,” a series of tools designed for financial institutions. This development is a step towards attracting more institutional investors to the Avalanche network and, in the long run, enhancing the protocol’s credibility in the crypto space.