2024

Fuji

Rewards

Avalanche

<h4><strong>The <a href="https://www.avax.network/blog/avalanche9000-testnet-launches-with-up-to-40m-in-retroactive-rewards" target="_blank" rel="noopener">Avalanche9000 upgrade</a>, now live on the Fuji testnet, is set to unlock more than $40 million in rewards for developers. </strong></h4> 
<p>This game-changing update promises to slash costs, improve interchain communication, and boost decentralization. Let’s discover more about Avalanche9000.</p> 
<h5><strong>What Is Avalanche9000?</strong></h5> 
<p>Avalanche9000 is a massive update based on technical improvements from the Etna Upgrade and proposals <a href="https://github.com/avalanche-foundation/ACPs/discussions/78" target="_blank" rel="noopener">ACP-77</a> and <a href="https://github.com/avalanche-foundation/ACPs/discussions/127" target="_blank" rel="noopener">ACP-125</a>. One big change is the rebranding of subnets, now called Layer 1s (L1s). These networks can work as permissionless or permissioned systems, giving developers more options for control and rewards.</p> 
<p>Validators, who help keep the network running, no longer need to stake 2,000 AVAX tokens or sync with the Primary Network. Instead, they will pay a continuous fee based on how many validators they have. This update is expected to cut costs significantly, making it more wallet-friendly for participants.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Avalanche9000 is now live on Fuji Testnet with up to $40m in grants on Retro9000.</p> 
 <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;">What does this mean for you? <a href="https://t.co/fTsmNQNuXD">pic.twitter.com/fTsmNQNuXD</a></p> 
 <p>— Avalanche9000 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f53a.png" alt="🔺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@avax) <a href="https://twitter.com/avax/status/1861107587086708784?ref_src=twsrc%5Etfw">November 25, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>This upgrade shifts validator management from <a href="https://support.avax.network/en/articles/4058243-what-is-the-platform-chain-p-chain" target="_blank" rel="noopener">Avalanche’s centralized P-Chain</a> to a decentralized ValidatorManager smart contract. This move gives L1s more independence and allows them to create their own rules and incentives. Subnets that want to remove staking requirements, can transition to this new system using the ValidatorManager smart contract.</p> 
<h5><strong>What’s in It for Developers?</strong></h5> 
<p>By reducing deployment costs by 99.9%, it lowers the barriers to building on the network. With over 500 L1s already in development, projects include gaming, payment solutions, and institutional research.</p> 
<p><a href="https://docs.avax.network/" target="_blank" rel="noopener">Interoperability improvements</a> also make it easier for developers to connect different blockchains. As Avalanche said, this upgrade is all about giving developers “more bang for their buck.”</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">If you are a builder, how do you get started?</p> 
 <p>Familiarize yourself with these docs to learn more about launching Avalanche L1s.<a href="https://t.co/tJXb78T8xM">https://t.co/tJXb78T8xM</a> <a href="https://t.co/kuyAnC7r6O">pic.twitter.com/kuyAnC7r6O</a></p> 
 <p>— Avalanche9000 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f53a.png" alt="🔺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@avax) <a href="https://twitter.com/avax/status/1861107591423627575?ref_src=twsrc%5Etfw">November 25, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h5><strong>A Snapshot of Avalanche</strong></h5> 
<p>Currently, Avalanche’s total value locked (TVL) is $1.38 billion, according to <a href="https://defillama.com/chain/Avalanche" target="_blank" rel="noopener">DefiLlama</a>. While that’s a far cry from its all-time high of $11.1 billion in November 2021, the network is aiming to climb back up with these significant upgrades.</p> 
<p><img decoding="async" class="wp-image-156237 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/11/xcvcxvfdgdfrereretrte-300x144.png" alt="" width="665" height="319" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/11/xcvcxvfdgdfrereretrte-300x144.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/xcvcxvfdgdfrereretrte-768x368.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/xcvcxvfdgdfrereretrte-696x334.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/11/xcvcxvfdgdfrereretrte.png 811w" sizes="(max-width: 665px) 100vw, 665px"></p> 
<p>With Avalanche9000 live on the testnet and the mainnet launch just around the corner, this upgrade could be a game-changer for the network and its community. As the saying goes, “a rising tide lifts all boats,” and Avalanche is ready to make waves in the crypto world.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/avalanche9000-testnet-unlocks-40m-rewards/">Avalanche9000 Testnet Unlocks $40M Rewards</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Avalanche9000 Testnet Unlocks $40M Rewards

Altcoin Buzz

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