Avalanche has successfully launched its Avalanche9000 upgrade on the mainnet, significantly enhancing its blockchain infrastructure.
Key Features of the Avalanche9000 Upgrade
Avalanche9000 is aimed at improving scalability and reducing operational expenses across the Avalanche ecosystem. Core changes include lower C-Chain fees, cheaper subnets, and enhanced interchain communication. These changes streamline the development process on the platform for developers and companies aiming for regulatory compliance.
From Testnet to Mainnet Success
Before the mainnet launch, *Avalanche9000* successfully debuted on the Avalanche "Fuji" testnet on November 25. After weeks of testing, the team proceeded with the mainnet launch on December 16. Ben Forman, founder of ParaFi Capital, noted that the upgrade makes Avalanche a major player in on-chain institutional finance.
Financial Support and Market Reaction
Leading up to the upgrade, the Avalanche Foundation secured $250 million through a token sale, with over 40 investors participating, including companies like Galaxy Digital and ParaFi Capital. With new funding, Avalanche's treasury is now valued at approximately $3 billion in AVAX tokens. In 2021, the project raised $230 million in a private token sale.
The Avalanche9000 upgrade marks a significant step forward for the platform, enhancing its infrastructure and strengthening its position as a major player in the blockchain market.
