Avalanche officially launched the much-anticipated Avalanche9000 upgrade on the mainnet, marking a significant advancement in blockchain infrastructure, improving performance and project flexibility.
Key Features of the Avalanche9000 Upgrade
Avalanche9000 is designed to enhance scalability and lower operational expenses across the Avalanche ecosystem. The core changes include: - **Lower C-Chain Fees:** Basic fees on the C-Chain drop from 25 nAVAX (~$0.00000098) to just 1 nAVAX (~$0.00000004), making transactions more affordable for users and developers. - **Cheaper Subnets (Layer-1s):** The cost for validators to launch a subnet shifts from a fixed 2,000 AVAX per instance to a subscription model of just 1.33 AVAX per month. - **Independent Chain Operations:** The "Etna" module allows subnets to operate independently, reducing startup costs and enabling projects to meet varying regulatory needs. - **Enhanced Interchain Communication:** Better communication between chains fosters a more connected and efficient blockchain environment.
From Testnet to Mainnet Success
Before the mainnet launch, *Avalanche9000* successfully debuted on the Avalanche "Fuji" testnet on November 25. Following weeks of testing, the team proceeded with the mainnet launch as planned on December 16. Ben Forman, founder of ParaFi Capital, praised the upgrade, describing Avalanche as a "major player" in enabling on-chain institutional finance.
Financial Backing for a New Era
In the lead-up to the Avalanche9000 upgrade, the Avalanche Foundation secured $250 million through a token sale. The raise was led by notable firms such as Galaxy Digital, Dragonfly Capital, and ParaFi Capital. More than 40 investors participated in the sale, including SkyBridge, SCB Limited, Hivemind, Republic Capital, and Morgan Creek Digital. The new funding bolsters Avalanche’s already impressive treasury, valued at approximately $3 billion in AVAX tokens. This is not the first major funding success for Avalanche. In 2021, the project raised $230 million in a private token sale led by Polychain and the now-defunct Three Arrows Capital.
The launch of Avalanche9000 marked an important milestone in blockchain technology, providing new opportunities for developers and reducing costs. Support from major investors underscores the significance of this upgrade for the entire ecosystem.
