Avalanche9000 goes live on the testnet, unlocking 40 million rewards for developers.
The Avalanche Network is undergoing its biggest overhaul since the platform launched, with more than $40 million in rewards set to open up to the community.
In the year According to the November 25 announcement, Avalanche9000 is now live on Fuji's testnet, and the main network launch is expected in the coming months. The update reduces deployment costs by 99.9%, enables interchain communication, and unlocks more than $40 million in developer rewards.
The upgrade is based on technical improvements made in Etna Upgrade and Community Proposals ACP-77 and ACP-125. Among the key changes is the renaming of Avalanche's subnets, now called Layer-1s.
According to Avalanche, the update does not introduce changes to the way subnets work, while still allowing for horizontal scaling rather than merging dependencies on custom blockchains.
Avalanche's L1 networks operate as permissionless or permissioned networks, each providing a different level of control over authenticator participation and rewards.
Source: Avalanche
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Additionally, subnet validators – which now go for L1-only validators – will no longer need to hold 2,000 Avalanche (AVAX) tokens and sync with Avalanche's primary network. Instead, you now pay a series of fees based on the number of verifiers. According to the network, the pay-per-second represents significant cost savings for authenticators.
The Etna update also changes how authentication clusters are managed in the Avalanche network. Now the responsibility of managing validators is transferred from the central Avalanche P-Chain to their own L1s using the VidatorManager smart contract. According to Avalanche, this change will give L1 networks more freedom and decentralization, allowing them to set their own rules and incentives.
Subnets that wish to remove the requirement to pay validators must transfer their management from the P-Chain Owner Key to the Validator Manager smart contract.
More than 500 L1s are being deployed on the testnet and mainnet, Avalanche said in a statement, with solutions ranging from gaming, payment solutions and institutional research.
With the update, Avalanche plans to improve interoperability and reduce barriers for developers. According to data from Defilama, the Avalanche's total valuation is currently locked in at $1.4 billion — nearly 10% off the peak seen in November 2021, which reached $11.1 billion.
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