Monat: November 2024

• Avalanche9000 testnet launched, reducing costs and enabling permissionless L1s.
• The upgrade will lower validator and C-Chain fees, boosting accessibility.
• Avalanche has also launched a $40M grant program to incentivize the adoption and development of new Avalanche L1s.

Avalanche, the eighth-largest blockchain by total value locked (TVL), has taken a significant leap forward with the launch of its “Avalanche9000” upgrade on the testnet.

This upgrade, described as the largest in the blockchain’s history, aims to revolutionize app development, reduce transaction costs, and make validator operations more affordable.

Avalanche9000: a complete overhaul of Avalanche

The upgrade went live at 1 p.m. ET on Monday and marks a pivotal step toward its planned mainnet deployment by the end of 2025.

Avalanche9000 is not just a technical enhancement but a complete ecosystem overhaul designed to simplify blockchain development for builders and reduce costs for users.

Central to the upgrade are two transformative proposals: ACP-77 and ACP-125.

ACP-77 introduces a new framework for validators, enabling users to launch their own low-cost, permissionless subnets, now rebranded as “L1s.” This change broadens accessibility, allowing developers from decentralized exchange operators to blockchain creators to spin up their own chains.

ACP-125, on the other hand, significantly lowers the minimum fees on Avalanche’s primary C-Chain from 25 nAVAX to 1 nAVAX, equating to a 96% reduction. This move aligns Avalanche’s transaction costs with leading Ethereum layer-2 solutions like Arbitrum and Polygon.

Avalanche9000 also enhances its cross-chain capabilities with features like Interchain Messaging (ICM), paving the way for interconnected decentralized applications (dApps). Over 500 new L1s are already in various stages of development, ranging from gaming chains to small business solutions.

This transformative upgrade underscores Avalanche’s mission to lower barriers for blockchain adoption.

Luigi D’Onorio DeMeo, COO of Ava Labs, emphasized its groundbreaking nature: “Avalanche9000 enables a scale and flexibility previously impossible. By making validators permissionless and reducing costs, it redefines what’s achievable on our network.”

$40 million grant program

The Avalanche Foundation has coupled the Avalanche9000 upgrade with a robust $40 million grant program dubbed “Retro9000,” designed to incentivize network adoption and development.

Developers building on the testnet can register for grants, with retroactive rewards available upon mainnet deployment.

A $2 million referral fund within Retro9000 further encourages influencers, business developers, and key opinion leaders to drive adoption.

With Avalanche9000 live on the testnet and its mainnet launch set for 2025, Avalanche is firmly positioned to strengthen its standing in the competitive blockchain ecosystem, promising a more accessible and cost-effective future for developers and users alike.

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Having surged over 120% in 14 days, Cardano (ADA) has been a star performer in the current bull cycle. Due to its success and whale accumulation, some analysts project ADA is poised for a parabolic run above $2 in the coming weeks, marking a huge development milestone. Meanwhile, two other altcoins, Rexas Finance, and XRP, have shared the spotlight with Cardano and could be ready for their own notable price explosion in the coming weeks. 

Cardano (ADA): A Parabolic Run to $2

At $0.9098 as of writing, Cardano is up 15.4% in one day and 48.8% in one week. ADA has surged astonishingly 156.9% over the past month as it reclaims its spot among the top ten cryptocurrencies. Amidst this surge, whales are actively accumulating as they own 67.51 million ADA, valued at about $55 million. The recent rise in large holding net flow shows ADA’s restored confidence. As resistance levels drop, analysts project ADA might surpass $1.50 before approaching the much-awaited $2 milestone. Technical signals like the token trading above the 20 and 50 EMAs help to support the positive view.

Rexas Finance (RXS): Revolutionizing Asset Tokenization

Rexas Finance is a blockchain-powered platform that is altering the real-world asset (RWA) market. It permits the tokenization of these valuable assets, including real estate and art, allowing for fractional ownership and access to investors of various budget levels. Its ecosystem includes revolutionary tools such as the Rexas Token Builder, which simplifies asset tokenization; the Rexas Treasury for staking and yield farming; and the Rexas AI Shield, which ensures the security of smart contracts. Rexas Finance has recently completed its sixth presale round, raising $12 million and selling 120 million tokens. Stage 7 currently sells RXS tokens for $0.09, with the following stage priced at $0.10. Following the presale, RXS will be listed on at least three tier-1 exchanges at $0.20, ensuring high awareness and liquidity. The project is currently live on CoinGecko and CoinMarketCap, which increases its transparency and trustworthiness. In addition, a $1 million giveaway is occurring, with 20 winners receiving $50,000 worth of RXS tokens each, increasing community engagement and enthusiasm. Rexas Finance’s strategy and rapid expansion make it an attractive investment. With its anticipated mega listings, experts forecast a notable price explosion to $20 from the $0.20 listing price. Thanks to its solid ecosystem, verified security through recently completed Cerik auditing, and enormous market scope that is worth over $500 trillion, RXS is the ideal cryptocurrency for investors seeking high ROI with relatively low risk. 

Ripple (XRP): Momentum Builds for Explosive Growth

XRP reached a multiyear high of $1.48 and is trading at $1.47 as of writing, up 32.3% in a day and 78.3% in a week. XRP has risen 179.9% in the last month, driven by anticipated positive regulatory developments and market optimism. The retirement of SEC Chairman Gary Gensler has reduced the regulatory ambiguity around Ripple. 21Shares, Canary Capital, and Bitwise’s prospective ETF applications for XRP might drive up its price even further. With the Ripple stablecoin (RLUSD) also ready to attract more investors to the ecosystem, analysts believe XRP will reach $5 soon, aided by its expanding market capitalization of $80 billion and greater trading volumes.

Conclusion

Cardano’s strong price action and whale accumulation indicate a parabolic rise to $2, cementing its status as a top cryptocurrency. Similarly, Ripple’s regulatory certainty and impetus may propel XRP to unprecedented heights. Rexas Finance stands out as the next major cryptocurrency to watch. With its creative environment, outstanding presale performance, and impending listings, it is an excellent option for investors wishing to profit from the developing blockchain sector.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

 

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