Avalanche, a prominent layer-1 blockchain that has risen to become the tenth-largest in terms of total value locked, has successfully activated its highly anticipated Avalanche9000 upgrade. This significant milestone marks the largest technical overhaul in the ecosystem's history. Following months of preparation, the network has introduced a slew of new features designed to reduce transaction costs, simplify validator operations, and enhance application development.
According to Avalanche leaders, a primary objective of the upgrade is to attract a influx of developers to the platform, encouraging them to leverage Avalanche's technology to create bespoke blockchains, known as subnets or 'L1s'. The upgrade, also dubbed the Etna upgrade, comprises seven distinct improvement proposals.
The two most notable modifications are ACP-77 and ACP-125. ACP-77 proposes the introduction of a novel type of validator, enabling users to launch their own subnets.
These new nodes boast lower operational costs, with the aim of increasing adoption and encouraging the creation of Avalanche-based networks. ACP-125 reduces the base fee on Avalanche's primary network, the C-chain, which supports smart contracts, from 25 nAVAX to 1 nAVAX. This adjustment aims to make computing on the network more cost-effective. Notably, one nAVAX is equivalent to one-billionth of an AVAX.
The Avalanche network also comprises two other primary chains: the P-chain, which facilitates AVAX staking and validator operation, and the X-chain, used for sending and receiving funds. The Avalanche Foundation recently announced that it had secured $250 million in a token sale, led by prominent investors including Galaxy Digital, Dragonfly, and ParaFi Capital, ahead of the upgrade.