Avalanche9000 Upgrade: $250 Million Backing and New Platform Features

user avatar

by Giorgi Kostiuk

2 years ago

Avalanche, a layer-1 blockchain, has completed a $250 million funding round to support the Avalanche9000 upgrade. The funding was led by Galaxy Digital, Dragonfly, and ParaFi Capital.

What is Avalanche9000?

Avalanche9000 is the most significant upgrade to the network to date, aiming to make the platform more developer-friendly, cost-efficient, and scalable. The upgrade reduces blockchain deployment costs by 99.9%. Key features include interchain communication and scalability developments, supporting over 500 blockchains.

A single chain cannot cater to all use cases, no matter how fast you make it. The only winning architecture is essentially multi-chain.Emin Gün Sirer, Avalanche cofounder

Momentum in DeFi and Gaming

Avalanche's Total Value Locked (TVL) has surged to $1.65 billion, marking its highest in nearly two years. The growth reflects its rising appeal in the decentralized finance ecosystem. In gaming, Avalanche has made notable strides with games like 'Off The Grid' becoming the top free game on the Epic Games Store.

Institutional Adoption of Avalanche

Institutional interest in Avalanche is also on the rise. BlackRock and Franklin Templeton funds have expanded their platforms to include Avalanche, highlighting its growing prominence in the digital finance ecosystem.

The Avalanche9000 upgrade marks a significant milestone for the platform, offering enhanced capabilities for developers and drawing the attention of institutional investors.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Faces Major Decline Following Hot CPI Data

Bitcoin has dropped significantly, trading at just over $69,300 after the latest consumer price index results came in hotter than expected.

user avatarMaria Fernandez

AI Agents May Become New Bitcoin Users with pi402

The introduction of pi402 may lead to autonomous AI agents becoming a new category of Bitcoin users.

user avatarGustavo Mendoza

Lightning Labs Unveils New Bitcoin Payment Technology for AI Agents

Lightning Labs has launched pi402, a new technology enabling AI coding agents to make payments directly using Bitcoin.

user avatarRajesh Kumar

Chainstack Expands Incident Report on Security Breach

Chainstack has updated its incident report detailing an October security breach caused by access control failures.

user avatarMiguel Rodriguez

Sygnum Launches ETH Alpha Fund Targeting 8-10% Annual Returns

Sygnum has launched its ETH Alpha Fund targeting annual returns of 8-10% for professional investors, combining staking with various strategies.

user avatarLuis Flores

Chainlink and Moody's Ratings Complete Crosschain Distribution Pilot

Chainlink and Moody's Ratings have successfully completed a pilot project utilizing the CrossChain Interoperability Protocol to distribute credit information across multiple networks.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.