Official press releases from Avalanche and the investment firms

Avalanche9000 Upgrade Live, Slashes Fees by 96% and Expands Blockchain Capabilities

Dec 16, 2024, 05:41 PM

Avalanche, a blockchain platform launched in 2020, has activated its most significant upgrade to date, known as Avalanche9000 or the Etna upgrade. This upgrade, which went live on December 16, 2024, introduces several key changes aimed at reducing costs and enhancing the platform's capabilities. One of the major enhancements is a 96% reduction in gas fees on the C-Chain, making transactions significantly cheaper. The upgrade also introduces a new type of validator, allowing users to launch their own subnets at a lower cost, thereby encouraging the creation of customized blockchains within the Avalanche ecosystem. Additionally, the base fee on the C-Chain has been lowered from 25 nAVAX to 1 nAVAX, further reducing the cost of computing on the network. The Avalanche Foundation has raised $250 million in a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital to support these developments. This upgrade is expected to attract more developers and foster the growth of an interconnected ecosystem of applications and community-specific blockchains.