Avalanche ($AVAX) has recently been in the spotlight, with Franklin Templeton adding the token to its blockchain fund and Grayscale Investments launching an Avalanche Trust.
As a Layer 1 blockchain network, Avalanche, which launched in May 2019 and went live on mainnet in September 2021, is preparing for its most significant upgrade yet—Avalanche 9000.
Currently, Avalanche boasts a Total Value Locked (TVL) of $912.11 million, a 24-hour trading volume of $64.43 million, and a market capitalization of $9.514 billion. With these solid metrics, the network is gearing up for Avalanche 9000, an upgrade expected to revolutionize the platform.
Avalanche 9000 will introduce several key innovations, including ACP-77, which brings a suite of upgrades and a live testnet environment. This upgrade will provide numerous opportunities for builders and developers, featuring full customization, open and permissionless validator sets to boost decentralization, and built-in regulatory compliance features such as geo-restrictions and custom permissions. Additionally, it aims to enhance scalability by integrating multiple Layer 1 networks (L1s) within the Avalanche ecosystem.
One of the major highlights is Avalanche Interchain Messaging, which will lower the economic barriers to deploying new L1s, enabling faster iterations and a quicker go-to-market strategy. The upcoming Avalanche 9000 testnet will also reward early builders with the Retro9000 initiative and offer bounties, including Bounty9000, which incentivizes developers to create foundational components, such as an Avalanche L1 with USDC as gas.
As Avalanche prepares for its biggest evolution yet, Avalanche 9000 promises to push the network to new heights, attracting developers and investors alike with its focus on scalability, decentralization, and compliance.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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