The cost of using Avalanche, a DeFi-focused smart-contract blockchain, has slumped since the implementation of the Avalanche9000 upgrade on Dec.
The cost of using Avalanche, a decentralized finance (DeFi)-focused smart-contract blockchain, has fallen sharply since the implementation of the Avalanche9000 upgrade on Dec. 16.
The proof-of-stake blockchain's usage fees, known as gas, have averaged about 75% less than in the months beforehand, data from Flipside and Bitquery show. Meanwhile, the number of transactions has increased by 38% to an average of 354,691 a day.
Avalanche, the world's fifth-largest smart-contract blockchain by the market value of its native token AVAX, boasts of a multichain structure. The C-Chain handles smart contracts, the P-Chain manages staking and validator coordination, and the X-Chain processes asset transfers.
The upgrade included seven improvement proposals, among them ACP-125, which lowered the base fee to run smart contracts on the C-Chain to 1 nAVAX from 25 nAVAX. (One nAVAX is a billionth of an AVAX.)
The upgrade also replaced the hefty validator fee of 2,000 AVAX with a monthly subscription of 1 to 10 AVAX, opening the door for projects of all sizes to introduce layer 1 (L1) protocols on Avalanche.
The goal of the upgrade was to make every component of the Avalanche tech stack cheaper—reducing C-Chain fees and removing capital requirements for L1 validators, Stephen Buttolph, Ava Labs' chief protocol architect, told Decrypt in November.
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