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Avalanche Unveils Cost-Efficient Subnet Upgrade Following $250M Fundraising Milestone
- Avalanche has undergone one of its biggest upgrades ever, revealing Avalanche9000.
- The new improvements are set to vastly increase efficiency for developers on the network.
- In particular, the costs for validating subnets and smart contracts have been slashed.
Popular Layer 1 network Avalanche has undergone a significant upgrade, resulting in several improvements for on-chain developers and validators. The updates have been packaged as a platform called Avalanche9000 and is specifically geared towards those building L1s and subnets on the Avalanche protocol.
AVAX, the network’s native token, enjoyed a strong week of trading, gaining nearly 14% as it looks to cement a price above US $50 (AU $78.6).
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Avalanche9000 Upgrade Brings Improved Efficiency to Avalanche Developers
Avalanche’s blockchain is designed to support Web3 developers aiming to deploy new protocols and applications within the DeFi sphere. While the project has been successful to date, occasionally spending time in the top ten coins by market cap, the upgrade is set to bring a new era of efficiency to the network.
Simply put, the Avalanche9000 implementation will make it 99.9% cheaper for L1s to launch atop Avalanche – with the dev team suggesting an “explosion of launches” is likely to follow.
Avalanche reportedly hosts upwards of 500 L1s on its network, a feat that requires significant scalability and processing power.
Validator Boost as Avalanche Community Proposals See Implementation
Capping off the cost cutting will be cheaper smart contracts and subnets, vital to operating a network on Avalanche’s base chain.
Subnets are a scalability tool baked into Avalanche that allow developers to build “networks within networks”. Basically, they are a collection of nodes that validate transactions on various blockchains.
Another major change is coming to validators on the protocol. Typically, these subnet nodes would also have to be validators on the main Avalanche network to participate.
However, now, thanks to Avalanche Community Proposal 77, this will no longer be the case.
Previous Avalanche models required an upfront cost of around US $100k (AU $157k), which made deploying new projects challenging for smaller teams. With ACP-77, supporting and building subnets on Avalanche is significantly more palatable.
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
