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

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As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the Avalanche9000 upgrade has caught my attention like never before. The potential for this update to revolutionize the blockchain landscape is palpable, and it’s not every day we see such significant upgrades in our favorite coins.

At long last, the eagerly awaited Avalanche9000 update is now active on the Avalanche primary network. As detailed in the announcement on platform X, this significant upgrade plays a key role in facilitating a greater number of Layer-1 blockchains within our mainnet. With its launch, Avalanche9000 brings several enhancements that make creating a “subnet” on the blockchain both cost-effective and straightforward.

Avalanche9000 Upgrade, What Changed?

The user-friendly blockchain platform, Avalanche9000, initiated by L1, has been introduced to streamline the process of creating Decentralized Applications (DApps) for developers. One of its standout features is a significant reduction in the cost of deploying an L1 blockchain by an impressive 99.9%.

It’s worth noting that we’re seeing rapid growth in the ecosystem, with many new L1s (Layer 1 networks) being tested. Given this pace, it’s possible we might witness a flurry of launches associated with Avalanche over the next few months.

To elaborate, Avalanche refers to Avalanche9000 as the most significant update on their network so far. This upgrade includes two key components: ACP-77, designed to alter how validators function within the system, and ACP-125, which reduces the base fee on Avalanche’s primary “C-chain” network. Notably, validators will no longer need to confirm the main chain when verifying specific subnets in this new setup.

Why L1s?

Different applications have different needs:

Games needs speed

Institutions need customization and control

DeFi needs lower fees and interoperability

To enjoy specialized infrastructure without compromises, it’s essential to initiate your own Avalanche Layer 1 network.

— Avalanche9000 (@avax) December 16, 2024

In essence, this change will lower both ongoing expenses and hardware needs. To begin with, Avalanche validators needed to hold a minimum of 2000 AVAX tokens for network validation, which equates to around $100,000 given the current trading price of $49.97 per token.

Having unique validator groups enables chains to operate autonomously from the main network, thus significantly lowering the initial costs for starting a project, as it provides flexibility in terms of compliance with various regulations and jurisdictions. This was expressed by the team in their writing.

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.

In the past 24 hours, the price of AVAX has risen approximately 3.72%, aiming to surpass the $50 threshold. It’s important to mention that AVAX experienced some price growth a few days back, driven by its token sale which raised $250 million from prominent investors for the network.

Significantly, AVA Labs earmarked these funds for supporting inventors planning to introduce projects on the platform following Avalanche 9000.

Previously, analysts speculated that the value of AVAX could reach around $70, primarily due to increasing investor confidence and various other influencing factors. This digital currency has already begun to garner attention, with indications of a potential surge as market excitement increases, suggesting a possible breakthrough.

 

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2024-12-17 01:54