Avalanche Unveils Major Network Upgrade: Will AVAX Price Surge?

• Avalanche has announced a major upgrade, Avalanche9000 that aims to boost scalability and efficiency with customizable chains and accelerate the deployment of Layer-1 subnets.
• The Avalanche9000 upgrade will enhance the network’s capabilities by refining its primary C-chain and expanding the multi-chain architecture.

Crypto blockchain Avalanche recently announced a major blockchain upgrade as the high-performance platform is seeking future growth within the crypto ecosystem. The Avalanche developer team announced the launch of the upcoming Avalanche9000 thereby naming it the “largest network upgrade” since the platform’s mainnet launch back in September 2020.

The official blog post notes that Avalanche9000 will soon be available on the testnet. As we know, the Avalanche blockchain is highly scalable and adaptable thereby allowing developers to build and deploy decentralized applications (dApps) efficiently while benefitting from the fast transactions and low costs.

Furthermore, the platform is now willing to build a multi-chain network that would benefit from the connected Layer-1 chains or subnets, thereby facilitating the scaling of the entire network. The introduction of Avalanche9000 will speed up the deployment of Avalanche subnets thereby making them economically feasible for users to launch their own Layer 1s on the Avalanche blockchain. The upgrade will also feature customizable chains, which will accelerate the time-to-market for projects. Besides, the official blog post notes:

With clarity that multi-chain architecture is the most scalable path forward, Avalanche9000 creates an elegant solution that enables each purpose-built chain to benefit from Layer 1 architecture, doubling down on the original Avalanche vision.

Along with Avalanche9000 testnet, the blockchain will also provide tools and documentation for users to launch their own L1s on the network. The upgrade will also incorporate significant network changes detailed in various proposals, along with developer incentives and new partner launches.

Will Avalanche 9000 Transform Blockchain Development?

The goal behind launching Avalanche9000 is to enhance the network’s capabilities while offering a robust ecosystem using a combination of extensive Layer 1 (L1) network, primary chain, and Avalanche Interchain Messaging.

The primary chain, i.e., C-chain, will work as the network’s economic and foundational hub while facilitating seamless liquidity flows across all Layer 1s.

Developers can leverage the pre-built tools available on the C-Chain for any new Avalanche L1, simplifying infrastructure and tooling integration. The C-Chain will continue to evolve with ongoing research and development focused on improving performance and developer experience, noted Avalanche.

Avalanche9000 introduces significant upgrades to Avalanche L1s, including:

• Customizability: Full control over staking economics, gas tokens, and more.
• Decentralization: Open and permissionless validator sets.
• Regulatory Compliance: Built-in geo-restrictions and custom permissions.
• Performance: Scalability with any virtual machine.

The network of Avalanche L1s has already seen successful deployments by prominent organizations including Deloitte, Gunzilla, DeFi Kingdoms, Shrapnel, MapleStory, and SK Planet. In a recent development, asset manager Franklin Templeton expanded its money market fund to the Avalanche blockchain network, reported CNF.

Avalanche’s native crypto AVAX is currently trading at $21.51 with a market cap of $8.7billion. As reported by Crypto News Flash, the AVAX token release has been one of the major reasons for continued selling pressure on the altcoin.