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Since the upgrade on December 16th, the Transaction Cost on the Avalanche blockchain has decreased by an average of 75%, according to Flipside.
The transaction volume has increased by over 35%. Since the implementation of the Avalanche9000 upgrade on December 16, the transaction cost of the DeFi smart contract blockchain Avalanche has decreased, leading to an increase of over one-third in the transaction volume.
Since the upgrade, the transaction cost of Ethereum's blockchain, known as gas, has decreased by an average of 75%, compared to the previous few months. According to data from Flipside and Bitquery, the daily number of transactions has increased by 38% to an average of 354,691 transactions. As a smart contract blockchain with the fifth largest market share in the world, Avalanche takes pride in its native token AVAX, which has a multi-chain structure consisting of C-Chain for processing smart contracts, P-Chain for managing storage and validation, and X-Chain for asset transfer operations. Additionally, the upgrade replaced the expensive 2000 AVAX validation fee with a monthly subscription fee of 1 to 10 AVAX, providing opportunities for projects of various scales to launch layer 1 protocols on Avalanche (L1).
The goal of the upgrade is to make every component of the Avalanche technology group cheaper by reducing the cost of C-Chain and eliminating the capital requirements of L1 validators, as Ava Labs' Chief Protocol Engineer Steven Buttolph told Decrypt website in November.#GT
#AVAX