Avalanche Upgrade Promises Enhanced Interoperability and Unlocks Over $40 Million in Retroactive Rewards for Developers
The post Avalanche Upgrade Promises Enhanced Interoperability and Unlocks Over $40 Million in Retroactive Rewards for Developers appeared on BitcoinEthereumNews.com.
The Avalanche network is undergoing its most significant upgrade since launching its mainnet, promising to unlock over $40 million in rewards for its community. This substantial upgrade, known as Avalanche9000, aims to enhance the platform’s scalability and reduce deployment costs, making it more accessible for developers. “The revamp will transform how our subnets operate, paving the way for more decentralization,” said an Avalanche spokesperson, highlighting the importance of the upgrade. Avalanche’s major upgrade will unlock $40 million in rewards, enhance scalability, and significantly reduce deployment costs for developers. Avalanche9000: A Game-Changer for Developers and Users The launch of Avalanche9000 marks a pivotal moment for the Avalanche ecosystem, which has been a frontrunner in decentralized applications since its inception. This upgrade aims to reduce deployment costs by an astonishing 99.9%, thereby lowering the barrier to entry for developers and expanding the platform’s usability across various sectors. With interchain communication capabilities, Avalanche is poised to foster greater collaboration between different blockchain environments. Technical Innovations Behind the Upgrade The Etna Upgrade, along with community proposals ACP-77 and ACP-125, lay the groundwork for this transformative advancement. A significant aspect of the upgrade is the rebranding of subnets to layer-1 networks, enhancing their functionality while maintaining existing operations. This strategic shift will allow for improved horizontal scaling, which is essential for optimizing blockchain operations without the drawbacks of high dependency on customized solutions. Validator Management and Cost-Savings Key to this upgrade is the reallocation of responsibilities for validator management from the centralized Avalanche P-Chain to individual layer-1 networks via a ValidatorManager smart contract. This change grants more autonomy to L1 networks, enabling them to define their own rules and reward structures. Furthermore, validators transitioning to this model will no longer be required to stake 2,000 AVAX tokens but instead will incur a continuous fee based…
Filed under: News - @ November 25, 2024 11:25 pm