Avalanche is set to undergo one of its most significant upgrades since its inception with the rollout of “Avalanche 9000”. The update, scheduled for Monday, is designed to improve scalability, security, and network performance, positioning the platform as a leader in blockchain technology.
The upgrade introduces major changes to Avalanche’s ecosystem, starting with a drastic reduction in the cost of deploying new Layer 1 blockchains, known as subnets. These subnets will now be 99% cheaper to deploy, making it more feasible for developers and businesses to expand the Avalanche network. Faster and more economical deployment of subnets will enable the ecosystem to attract a broader range of projects and initiatives.
In addition to cheaper deployment, transaction fees on Avalanche’s C-Chain are set to decrease by 96%. This reduction is expected to make the platform significantly more attractive to decentralised finance (DeFi) users who prioritise low transaction costs and efficient performance.
A key component of the Avalanche 9000 update is the enhancement of the Avalanche Interchain Messaging (AICM) protocol. This development will enable seamless communication between different Layer 1 subnets within the Avalanche ecosystem. By facilitating the sharing of data, liquidity, and functionalities, the protocol will foster greater interoperability among subnets. Each subnet can be tailored for specific purposes while remaining interconnected, creating a more cohesive and versatile blockchain network.
Another highlight of the upgrade is the introduction of the Retro Program 9000. This initiative includes $40 million in retroactive grants aimed at encouraging innovation and supporting new developments on the platform. By incentivising contributions from developers, the program seeks to drive adoption and enrich the Avalanche ecosystem with diverse applications and use cases.
Avalanche 9000 represents a bold step forward for the platform, promising improved efficiency and expanded possibilities for developers and users alike. The updates to scalability, cost-effectiveness, and interchain communication underscore Avalanche’s commitment to advancing blockchain technology and solidifying its position as a leading platform in the industry. With these changes, Avalanche is poised to attract a wave of new projects and cement its role as a hub for decentralised innovation.
