AVAX is up 3.67% in the past 24 hours at the time of writing. The number of transactions on all subnets has increased sharply in the past 10 days by almost 46%.
Avalanche [AVAX] The long-awaited Cortina Upgrade was launched on its mainnet, aiming to bring significant improvements that will improve the development experience on the layer-1 blockchain.
AVAX reacted positively to the news, rising 3.67% over the past 24 hours at the time of going to press. The token broke a week-long losing streak in which it lost 19% of its value.
Cortina is live!
Cortina is the latest version of AvalancheGo, with 3 major optimizations that will provide a better developer experience #Avalanche
✅ X-Chain Linearization
✅ Grouped delegation rewards
✅ Increased gas limit for C chain https://t.co/1ZukgJ1avm— Avalanche 🔺 (@avax) April 25, 2023
Read Avalanches [AVAX] Price Forecast 2023-24
What does Cortina bring to the table?
According to Avalanche, the main optimization as part of the Upgrade will be the linearization of the X-Chain. X-Chain, also known as the Exchange Chain, is used to send and receive money on the Avalanche network. Using linearization, exchanges will find it much easier to deal with the X-Chain.
Second, the fee distribution for multi-delegator validators will become easier after the activation of Cortina. As can be seen in the chart below, the number of participants in the network has increased manyfold, with over 84,000, at the time of writing.
Source: Avalanche Explorer
In the future, fees will be grouped across a node’s entire validation period and distributed when it is not staked, instead of being sent as a UTXO for each successful delegation period, providing convenience to validators.
In addition, Cortina will increase the gas limit of the C-Chain block to 15M gas, allowing developers to deploy complex dApps. The C-Chain or the contract chain is used for smart contracts and Defi apps.
Network health
Transactions across all of Avalanche’s subnets surged by nearly 46% over the past 10 days, reflecting the network’s growing appeal. The reason behind the spike could be the introduction of Evergreen Subnets launched earlier this month.
Source: Avalanche Explorer
In addition, the throughput of the network has increased significantly. The average number of transactions processed per second (TPS) increased from 15 about 10 days ago to 22.
Source: Avalanche Explorer
How much are 1, 10 and 100 AVAXs worth today?
Despite the launch of Cortina, investors were still not ready to place bullish bets on AVAX. More short positions have been taken for the token in the past 24 hours compared to long positions, data from Coinglass showed.
Source: Coinglass
This post Avalanche launches Cortina Upgrade, but something changes for AVAX
was published first on https://ambcrypto.com/avalanche-launches-cortina-upgrade-but-will-things-change-for-avax/
