Everything you need to know about upgrading the Avalanche9000 network with Etna to Mainnet

The Avalanche Foundation has released its biggest network update to date, Avalanche9000, introducing the Etna update to its main network. It marks a fundamental change in the Avalanche ecosystem by simplifying the process of launching Layer 1 blockchains, removing the complexities of the previous subnet model.

AVAX’s price remained largely unchanged despite the big overhaul.

Avalanche9000: The Network Review

According to the official website, Etna replaces the existing subnet model, which had been criticized for its high participation thresholds and operational costs for validators. With Avalanche9000, developers can now spin up Layer 1 blockchains faster and independently, benefiting from dramatically reduced costs: 99.9% L1 deployment costs and a 96% drop in C chain rates.

The update also introduces more flexibility, offering customizable participation mechanisms, gas rates, tokens and compliance options, including geographic restrictions. These improvements remove significant financial and technical barriers and instead allow developers to tailor their networks to specific use cases.

In addition, Avalanche9000 integrates Interchain Messaging (ICM) and improves interoperability between chains, thus fostering smoother communication throughout the ecosystem. By simplifying the creation and governance of the blockchain, Avalanche said the ultimate goal is to attract more projects to its platform.

Avalanche9000 was launched on the “Fuji” Avalanche testnet on November 25th. Just days before the mainnet launch, Avalanche announced a $250 million locked token sale, which was led by prominent investors including Galaxy Digital, Dragonfly, and ParaFi Capital, with more than 40 companies participating.

Notable participants in the token sale included SCB Limited, Republic Capital, Lvna Capital, Hivemind, Big Brain Holdings, Morgan Creek Digital, Hypersphere, FinTech Collective, SkyBridge and others.

AVAX’s underwhelming performance

AVAX got off to a good start in 2024, subsequently reaching an annual high of $65.39. However, the price fell quickly and has struggled to recover these levels. Despite an attempted recovery in November, AVAX has yet to reach previous highs.

In December, while other altcoins saw significant gains, AVAX’s performance remained lackluster. According to the latest data, the token has registered a weekly increase of 9.28%, with its current price at $50.18.

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