The significant Avalanche blockchain upgrade, known as Avalanche 9,000, resulted in a marked decrease in transaction costs and encouraged increased network activity.
Transaction Costs After Upgrade
Following the Avalanche 9,000 upgrade, network fees were reduced by approximately 75%. This change has allowed users to conduct more transactions at a lower cost.
Increase in Network Transactions
Data from Flipside and Bitquery reveals that post-fee reduction, transaction numbers in the network increased by 38%, averaging 354,691 transactions per day. This indicates that lower costs have encouraged greater network usage.
Key Changes and Their Significance
The upgrade included several crucial improvements, such as ACP 125, which lowered the base fee for executing smart contracts. These changes make Avalanche a more accessible and cost-effective platform for decentralized application developers.
The Avalanche 9,000 upgrade is a crucial step forward in realizing the platform's mission of creating a scalable and efficient blockchain system, attracting more developers and users.
