As a seasoned analyst with over two decades of experience in the tech and blockchain industries, I must say that the Avalanche Foundation’s announcement of the Avalanche9000 mainnet upgrade is nothing short of groundbreaking. The Etna upgrade, as it’s dubbed, seems to be a game-changer for developers on the Avalanche (AVAX) network.
The Avalanche Foundation unveiled their largest network update, referred to as the Avalanche9000 mainnet. This upgrade significantly lowers deployment costs and C-Chain transaction fees by over 90%.
On December 17th, the live launch of the Avalanche9000 mainnet occurs, featuring a significant update called “Etna”. This update addresses challenges faced by developers on the Avalanche (AVAX) network, such as high staking requirements and expensive validator costs. The Etna upgrade resolves these issues by allowing layer1 blockchains to operate independently from the primary network.
In simpler terms, this change implies that validators no longer need to verify transactions on the main Avalanche network. Instead, individual chains can now establish their own group of validators. This significant shift makes the validation process more streamlined for new blockchain projects, lowering both operational costs and initial fees substantially.
šŗ Our Major Mainnet Update is Here! – Avalanche 9000 introduces the Etna enhancements, marking a fresh chapter for developers and users on Avalanche.
ā Avalanche Foundation šŗ (@AvalancheFDN) December 16, 2024
In the old design of Avalanche’s subnet model, every newly launched blockchain requires validation on the main network. This process involves a one-time deposit of at least 2000 AVAX tokens, which is approximately equivalent to $100,000, and also necessitates the hardware needed for validating these chains.
Through this update, Avalanche asserts a significant drop in layer1 deployment costs nearly to zero percent (99.9%) and a substantial reduction of 96% in C-Chain transaction fees.
Furthermore, Avalanche9000 streamlines the construction of layer1 blockchains within the network, accelerating their entry into the marketplace. It grants developers greater autonomy to tailor their layer1 blockchains with regards to features like staking, economy, gas fees, tokens, and other aspects.
One of the key features that this upgrade highlights is Avalancheās built-in Interchain Messaging, which facilitates communication between the Avalanche C-chain and Avalanche layer1s. This feature works for both new and existing layer1s.
Developers have the option to employ a messaging standard for sending and receiving EVM messages across different chains. The Avalanche blockchain network is capable of transmitting various kinds of data with ICM, such as tokens, non-fungible tokens (NFTs), and oracle price feed information.
Back in December, as per a previous report from crypto.news, the Avalanche Foundation announced their upcoming Avalanche9000 update, describing it as “the most significant network upgrade since the protocol’s launch.” This announcement coincided with an improvement across various key metrics during Q3 of 2024.
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2024-12-17 11:39