Avalanche has officially launched the highly anticipated Avalanche9000 upgrade on its mainnet, marking a major step in blockchain infrastructure advancement. This upgrade introduces significant improvements, reduces costs, optimizes performance, and offers greater flexibility for projects.
Key Features of the Avalanche9000 Upgrade
Avalanche9000 is designed to improve scalability and lower operational expenses within the Avalanche ecosystem. Key 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 'Fuji' testnet on November 25. After 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.
Investment and Financial Support
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 - 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 the Avalanche9000 upgrade signifies a substantial step forward for the Avalanche ecosystem, presenting improved performance and reduced costs. This achievement is supported by significant financial backing and meets expectations from the testing phase to full deployment. Such activity and investor support position Avalanche as a promising platform for future developments and adoptions.
