- Avalanche9000, the largest upgrade since Avalanche’s mainnet launch, reduces deployment costs by 99.9%, enhances interchain communication, and introduces US$40M in developer incentives.
- Validators no longer need to stake 2,000 AVAX or sync with the Primary Network; a new ValidatorManager smart contract decentralises validator management.
- Over 500 L1 networks are under development, spanning gaming, payments, and research, as Avalanche aims to revitalise its ecosystem and developer activity.
Avalanche (AVAX) has introduced its largest upgrade since the network’s mainnet launch, with Avalanche9000 now live on the Fuji testnet.
The upgrade, announced on November 25, is expected to roll out on the mainnet in the coming months. It promises significant advancements, including a dramatic 99.9% reduction in deployment costs, enhanced interchain communication, and unlocking over US$40M (AU$62.3M) in retroactive rewards for developers.
Related: Net Gains and Blockchain Brains: FIFA and Mythical Games Kick Off ‘FIFA Rivals’ with NFT Twist
New Incentives
The US$40M is a substantial incentive for developers, and it includes a US$2M (AU$3.10M) for referral programs, to encourage network adoption and innovation.
Ava Labs Chief Protocol Architect, Stephen Buttolph, told Decrypt the upgrade is focused on reducing costs across all components of the Avalanche ecosystem:
[This latest upgrade] focuses on making every component of the Avalanche tech stack cheaper. From reducing C-Chain fees to removing capital requirements for L1 validators, every user of Avalanche should experience reduced costs.
Stephen Buttolph, Ava Labs Chief Protocol ArchitectMajor Shift For Validators
One major shift under Avalanche9000 affects validator requirements.
Validators, now referred to as L1-only validators, will no longer need to stake 2,000 AVAX tokens or synchronise with the Avalanche Primary Network. Instead, they will pay a continuous fee based on the number of active validators, significantly reducing costs.
This adjustment is part of a broader overhaul of validator management, which transitions responsibility from the centralised Avalanche P-Chain to individual L1 networks through a new ValidatorManager smart contract.
According to Avalanche, this change promotes decentralisation by enabling L1 networks to establish their own rules and incentives for validators.
Related: Ripple’s Resurgence: XRP Surges as Crypto Community Anticipates Regulatory Shift
Subnets that wish to eliminate staking requirements must migrate their validator management from the P-Chain Owner Key to the ValidatorManager smart contract. This adjustment further decentralises operations while simplifying processes for developers and participants.
Avalanche reports that over 500 L1 networks are already under development across the testnet and mainnet. These projects span various sectors, including gaming, payment solutions, and institutional research.
Currently, the Avalanche network’s total value locked (TVL) stands at US$1.38B (AU$2.14B), according to DefiLlama. This figure represents nearly 10% of its all-time high of US$11.1B (AU$17.22B) recorded in November 2021.
With the introduction of Avalanche9000, the platform hopes to revitalise developer activity and expand its ecosystem’s potential.
Credit: Source link
