TL;DR
- The Avalanche9000 upgrade, now live on the Fuji testnet, promises to revolutionize the network by slashing deployment costs by 99.9%, boosting rewards, and enhancing decentralization.
- The upgrade unlocks over $40 million in retroactive rewards for developers, incentivizing the creation and maintenance of high-quality projects on the Avalanche network.
- Avalanche9000 introduces a new structure for validator management, enhancing decentralization and scalability, with over 500 Layer 1 blockchains currently being developed on the testnet and mainnet.
Avalanche, a leading blockchain platform, has launched its most significant upgrade since the mainnet’s inception. The Avalanche9000 upgrade, now live on the Fuji testnet, promises to revolutionize the network by slashing deployment costs, boosting rewards, and enhancing decentralization.
This upgrade is expected to pave the way for the mainnet launch in the coming months, bringing substantial benefits to developers and users alike.
Slashing Deployment Costs
One of the standout features of the Avalanche9000 upgrade is the dramatic reduction in deployment costs. The upgrade is set to cut these costs by an impressive 99.9%, making it more economically feasible for developers to launch their own Layer 1 (L1) blockchains.
This cost efficiency is achieved through a series of technical enhancements, including the Etna Upgrade and community proposals ACP-77 and ACP-125. By lowering the financial barriers to entry, Avalanche9000 aims to foster greater innovation and participation within the blockchain ecosystem.
Avalanche9000 Boosting Rewards
In addition to reducing costs, the Avalanche9000 upgrade unlocks over $40 million in retroactive rewards for developers. These rewards are designed to incentivize the creation and maintenance of high-quality projects on the Avalanche network.
Developers can now access these rewards by participating in the testnet and contributing to the network’s growth. This initiative not only rewards past contributions but also encourages ongoing development and engagement within the community.
Redefining Decentralization
Avalanche9000 also brings significant changes to the network’s decentralization model. The upgrade introduces a new structure for validator management, transferring responsibility from the centralized Avalanche P-Chain to individual L1s through a Validator Manager smart contract.
This shift allows L1 networks to operate with greater independence and establish their own regulations and incentives. Additionally, the upgrade eliminates the requirement for validators to stake 2,000 tokens and synchronize with the Avalanche Primary Network, replacing it with a continuous fee based on the number of validators.
This change is expected to enhance the network’s scalability and decentralization. With over 500 L1s currently being developed on the testnet and mainnet, Avalanche9000 is poised to significantly impact various sectors, including institutional research, payment solutions, and entertainment.
The upgrade’s focus on interoperability and reduced obstacles for developers is set to drive further adoption and innovation within the Avalanche ecosystem.
