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CoinGape 2024-12-16 22:52:50

Avalanche9000 Upgrade Goes Live on Mainnet, AVAX To $70?

Avalanche9000 Upgrade Goes Live on Mainnet, AVAX To $70?

The much-anticipated Avalanche9000 upgrade is finally live on the Avalanche mainnet. According to the announcement on X, this will upgrade is crucial in ushering in a larger number of Layer-1 blockchains on the mainnet. Avalanche9000 introduces a few improvements that make launching a “subnet” on the blockchain cheaper and easier. Avalanche9000 Upgrade, What Changed? The application-friendly L1 blockchain launched Avalanche9000 to make building Decentralized Applications (DApps) easier for developers. Among its many features, the newly launched offering reduces the cost of deploying an L1 by 99.9%. Interestingly, the burgeoning ecosystem is entering a season when hundreds of L1s are being developed on testnet. At this rate, there could be an explosion of launches linked to Avalanche in the coming months. Furthermore, Avalanche described Avalanche9000 as the largest upgrade on the network till date. As part of the upgrade, there is ACP-77, responsible for changing how validators operate. In addition, it comes with ACP-125, which lowers the base fee on Avalanche’s main “C-chain” network. There would be no need for validators to verify the main chain when validating specific subnets. Why L1s? Different applications have different needs: Games needs speed Institutions need customization and control DeFi needs lower fees and interoperability Only by launching your own Avalanche L1 can you have specialized infrastructure without the tradeoffs pic.twitter.com/hBRhhZBA19 — Avalanche9000 (@avax) December 16, 2024 Ultimately, this will reduce operational costs and hardware requirements. For pre-existing model, Avalanche validators were required to stake a minimum of 2000 AVAX tokens to validate the primary network. This is valued at approximately $100,000, considering that the coin is now trading at $49.97. The presence of dedicated validator sets makes it possible for chains to run independently from the primary network. In the long run, this “greatly reduces the upfront cost to bootstrap a project, and also allows different regulation and jurisdiction requirements to be met,” the team wrote. Avalanche has tagged this part of the update the “Etna” upgrade. AVAX Price in View Amidst the mainnet launch of Avalanche9000, AVAX registered some price movements. AVAX price has jumped by 3.72% in the last 24 hours in an attempt to breach the $50 mark. It is worth noting that AVAX saw some price gains a few days ago, fueled by the AVAX token sale where the network bagged $250 million from top investors. Notably, AVA Labs allocated this funding to boosting innovators that will launch on the protocol after Avalanche9000. In previous AVAX price analysis , experts suggest that the coin may top $70, driven by several factors including investors’ confidence. The digital asset is already gaining traction, showing promising signs of a breakout as market enthusiasm grows. The post Avalanche9000 Upgrade Goes Live on Mainnet, AVAX To $70? appeared first on CoinGape .

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