Avalanche’s Major Update: What’s New?

Avalanche Launches Avalanche9,000 Testnet to Lower Blockchain Development Costs

Avalanche has introduced the “Avalanche9,000” testnet, a groundbreaking update aimed at making Layer 1 (L1) blockchain development more affordable and accessible. This major upgrade is part of the Avalanche Foundation’s effort to enhance the ecosystem and promote wider adoption of the network.

Key Details of the Avalanche9,000 Initiative

The Avalanche9,000 update comes with significant improvements and financial incentives for developers:

• $40 million in retroactive grants to developers to encourage innovation and growth within the network.
• $2 million in referral rewards to help drive network adoption and user engagement.
• Scheduled deployment on Avalanche’s C-Chain in 2025, bringing these changes to the mainnet.

With the testnet going live today, Avalanche is moving closer to a cost-effective and user-friendly blockchain platform.

Focus on Reducing Costs Across the Avalanche Technology Stack

According to Stephen Buttolph, Chief Protocol Architect at Ava Labs, the update is designed to lower costs across the board. This includes:

• Reducing C-Chain fees
• Removing capital requirements for L1 validators

These improvements aim to benefit every user on the Avalanche network, making it more cost-effective and efficient to use.

Key Components of Avalanche9,000: Etna Upgrade and Critical Proposals

The Avalanche9,000 update introduces several key components, including the Etna Upgrade, which includes:

• Changes to validator rules
• Rebranding of Avalanche subnets to Avalanche L1s

Two important proposals, ACP-77 and ACP-125, play a crucial role in reducing costs and enhancing interoperability:

• ACP-77 introduces a new validator governance framework, allowing the creation of low-cost, natively interoperable blockchains.
• ACP-125 will lower base transaction fees on the C-Chain from 25 nAVAX to 1 nAVAX per transaction.

The Impact of Cost Reductions on Avalanche Development

While the cost reductions may seem modest on a per-transaction basis, they are significant in the long term. With 1 nAVAX equal to one billionth of an AVAX token (currently valued at $42), the 96% fee reduction will make deploying and maintaining applications on Avalanche much more affordable for developers.

In conclusion, Avalanche9,000 marks a pivotal moment in the evolution of the Avalanche network, providing a more scalable, cost-effective, and user-friendly platform for blockchain development.