Welcome to the Avalanche Weekly Overview. A one-stop-shop for the AVAX community to get up to speed on the Avalanche blockchain network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place. 

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These metrics are based on a 7-day time frame, unless noted otherwise. 

🔺What we’re watching: Avalanche shared the pre-release notes for Fuji Etna, the network’s next steps toward Avalanche9000.

🔺Why it matters: This upgrade is designed to make launching an L1 more cost-effective, easier to customize, simpler to maintain, and faster to market. It’s set to release on November 25th, and is composed of six Avalanche Community Proposals (ACPs).

The main feature was the change in operating costs being lowered by removing the 2,000 $AVAX payment, worth about $70,000, that was required by developers. This change makes it more attractive for them to launch their L1 as it doesn’t require a large payment upfront.

In the past, the P-Chain and X-Chain operated in a fixed fee mechanism. This meant users could expect a predictable charge they had to make on their transactions. However, this didn’t take into account potential network congestion, size of transactions and resource constraints that could happen. Now, the C-Chain, P-Chain, and X-Chain will migrate to a dynamic fee mechanism. This means it will raise the fee price during periods of high demand and lower the price during periods of low demand.

This will allow for requests to be done in a Virtual Machine (VM) agnostic manner. This means requests sent by chains to a fulfillment, in order to perform an action, are not withheld by a single VM. An agnostic approach can also be beneficial in development because it can promote interoperability between softwares and platforms.

This proposal lowers fees on C-Chain by 96% from 25 nAVAX to 1nAVAX. By having a low minimum base fee, it makes the chain more attractive for users to perform transactions and for developers to build using the Avalanche framework, since it’s cheaper. This means the network could see increased activity since transaction fees historically could make or break a chain’s usage. 

This step was put in motion to activate the Cancun network upgrade on the Avalanche C-Chain for Avalanche9000. It’s designed to maintain compatibility with Ethereum’s EVM model to improve performance, functionality, and the developer experience.

State verification is the act of a digital signing to ensure the legitimacy of a block and that it hasn’t been altered. This implementation allows for a more reliable way to determine which validators should participate in signing messages. In turn, this removes wait periods users have to endure, which could be long in some cases.

🔺The bigger picture: The combination of these six proposals made up the bulk of improvements needed for Avalanche to take its next step forward in its Avalanche9000 upgrade. 

This initiative is thwarted by the team as their “biggest network upgrade ever.” 

Distribution of L1s by category. Source: Snowpeer

Here’s Avalanche-based articles that made headlines this week. 

Check out the Avalanche blog for more updates. 

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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.