$AVAX
Avalanche9000 upgrade is the largest upgrade to date for the Layer1 blockchain Avalanche network, introducing many new features and improvements. Here are some key points:
1. Launching subnet blockchains is easier: Avalanche9000 introduces a new type of validator through improvement proposal ACP-77, making it more economically viable to launch your own subnet blockchain. This new type of validator significantly reduces the cost of use, thereby lowering the entry barrier for new players.
2. Lower cost of running smart contracts: Improvement proposal ACP-125 reduces the base fee of the Avalanche main 'C chain' network from 25 nAVAX to 1 nAVAX, which approximately reduces the activation cost of smart contracts by 99%.
3. 99.9% reduction in the cost of deploying L1: Avalanche9000 has reduced the cost of deploying L1 by 99.9%, making rapid iteration and quick market entry possible.
4. L1 development on the testnet: With hundreds of L1s being developed on the testnet, an explosive growth in launch volume is expected in the coming months. Currently, there are over 500 L1 projects being developed on both the testnet and mainnet, covering various fields such as community gaming, small business payment solutions, and institutional research.
5. $40 million retroactive rewards program: The launch of the Avalanche9000 testnet is accompanied by a retroactive rewards program called Retro9000, with a total reward amount of up to $40 million, aimed at rewarding developers who develop L1 blockchains and related key development tools on the Avalanche9000 testnet.
6. Interoperability protocols: Avalanche9000 also includes two major interoperability protocols—Inter-Chain Token Transfer (ICTT) and Inter-Chain Messaging (ICM), which enhance communication and interoperability between different blockchains.
This upgrade marks an important step for the Avalanche network in terms of performance, customizability, ease of maintenance, and time-to-market, providing builders with more flexibility and economic efficiency.