One of the Biggest Altcoins Announced Its Largest Update Ever! Here are the Details

Launched in 2020 and currently ranked tenth in terms of total locked value (TVL), layer-1 blockchain Avalanche has activated Avalanche9000, its largest update to date.

The upgrade announced today, which has been eagerly awaited, offers comprehensive technical improvements designed to reduce costs and attract more developers to the ecosystem.

The update, also known as the Etna update, has been in development for months and includes seven key improvement proposals. These changes aim to reduce transaction fees, simplify validator operations, and enhance the ability to create customized blockchains or subnetworks on Avalanche.

Avalanche leaders had previously stated, “Avalanche9000 is a critical step in our mission to bring developers into the Avalanche ecosystem and enable them to create custom blockchains using subnets.”

Two of the proposed measures stand out in terms of their potential impact:

• ACP-77: This introduces a new type of validator node that is cheaper to operate. The change is expected to reduce the barrier for individuals and organizations to launch their own Avalanche-based subnetworks and promote wider adoption of the blockchain infrastructure.
• ACP-125: This proposal significantly reduces the base fee on Avalanche's C-chain, the primary smart contract chain of the network. The fee is reduced from 25 nAVAX (approximately 0.00000098 dollars) to just 1 nAVAX (0.00000004 dollars), making computation and interaction with smart contracts on the platform much more affordable.

Avalanche operates three main chains: the C chain for smart contracts, the P chain for staking and validating transactions, and the X chain for asset transfers and purchases. Changes made on the C chain are expected to enhance the competitiveness of Avalanche as a platform for decentralized applications (dApps).

Avalanche Foundation hopes that developers will develop their updates on their own platform and take advantage of the flexibility of subnets that function as independent blockchains supported by Avalanche's technology. Subnets, also known as Layer-1s, allow developers to customize their networks for specific applications, industries, or use cases.