bullish

2024

Fuji

Avalanche

Rewards

<ul>
 <li>Avalanche has launched its largest upgrade, Avalanche9000, on the Fuji testnet, introducing $40 million in rewards for developers.</li>
 <li>The Avalanche network is already witnessing robust activity, with over 500 L1 networks in development across testnet and mainnet.</li>
</ul>
Avalanche has made center stage once again. This isn’t happening because of the rally, but because of what’s expected to happen next. The Avalanche network, a blockchain widely known for its scalability and efficiency, is undergoing its most significant <a href="https://x.com/avax/status/1861107587086708784" target="_blank" rel="noopener noreferrer nofollow">upgrade</a> since its inception.
Notably, this upgrade, dubbed Avalanche9000, is now live on the Fuji testnet, with the mainnet launch anticipated in the coming months.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Avalanche9000 is now live on Fuji Testnet with up to $40m in grants on Retro9000.
 <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" rel="noopener noreferrer nofollow">pic.twitter.com/fTsmNQNuXD</a>
 — 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" rel="noopener noreferrer nofollow">November 25, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Avalanche took this to the x platform announcing that the upgrade aims to unlock over $40 million in retroactive rewards for developers while drastically enhancing the network’s efficiency and functionality.
Moving forward this upgrade aims to bring several features and benefits. For starters, Avalnche9000 brings a host of technical and economical improvements designed to empower developers and validators. Interestingly, the upgrade has set on sight a reduction in deployment costs by a staggering 99.9%.
This will further streamline the process for new projects to deploy and scale on the Avalanche ecosystem. Additionally, the upgrade introduces enhanced interchain communication, bolstering interoperability across networks.
Avalanche9000’s $40 million retroactive rewards program is poised to revolutionize the network. By incentivizing developers to build innovative solutions, from gaming to institutional tools, the network is set to attract a wave of groundbreaking projects
On the same note, another important aspect of the upgrade is rebranding of Avalanche’s layer 1s.
While the name has changed, the operational model remains consistent, continuing to support horizontal scaling without increasing reliance on custom blockchains.
Avalanche’s L1s can function as permission less&nbsp;or permissioned networks, giving developers flexibility over validator participation and rewards. This change enhances decentralization while maintaining user control over network parameters.
Avalanche9000 also introduces groundbreaking updates to its validator structure. Validators, now referred to as L1-only validators, no longer need to stake 2,000 AVAX tokens or sync with the Avalanche Primary Network. Instead, they will pay a continuous fee based on validator count, significantly reducing operational costs.
The Etna Upgrade, a foundational element of Avalanche9000, shifts validator management from the centralized Avalanche P-Chain to the individual L1s via a ValidatorManager smart contract. This decentralized approach allows L1 networks to establish their own rules and incentives, further enhancing autonomy.
The Avalanche network is already witnessing robust activity, with over 500 L1 networks in development across testnet and mainnet. These solutions span gaming, payment systems, and institutional research, demonstrating the platform’s versatility.
With an eye on improving interoperability and lowering barriers to entry for developers, Avalanche9000 is poised to drive <a href="https://www.ethnews.com/cardano-and-avalanche-etfs-on-the-horizon-analyst-predicts-spot-filings-amid-market-surge/" target="_blank" rel="noopener noreferrer nofollow">further adoption</a>. With the ongoing bullish market, the network’s total value locked (TVL) stands at $1.4 billion, according to DefiLlama, indicative of steady growth since its all-time high of $11.1 billion in November 2021.
Meanwhile, Avalanche’s native token AVAX, has undergone a slight decline in its <a href="https://www.ethnews.com/avalanche-avax-price-prediction-may-break-200-while-ethereum-eth-investors-turn-to-this-new-altcoin-for-higher-returns/" target="_blank" rel="noopener noreferrer nofollow">market price.</a> At the time of writing, AVAX is swapping hands with $41.74 after a 6.21% decline in the past 24 hours.&nbsp;
The post <a href="https://www.ethnews.com/avalanche9000-debuts-on-fuji-testnet-offering-40m-in-builder-rewards/" rel="noopener noreferrer nofollow">Avalanche9000 Debuts on Fuji Testnet, Offering $40M in Builder Rewards</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Avalanche9000 Debuts on Fuji Testnet, Offering $40M in Builder Rewards

ETHNews

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