Avalanche AVAX, a major player in the cryptocurrency space, is on the cusp of a significant transformation. The upcoming implementation of ACP-77 marks a crucial step toward creating an ecosystem of interoperable, fully customizable, and sovereign Layer 1 blockchains.
Avalanche, a multi-billion $$$ ecosystem, is about to undergo a major transformation.
ACP-77 will be a big step towards an ecosystem of interoperable, fully customizable & sovereign L1s.
Wait, modular L1s on @avax?
Research-𧾠full of ââââââ alpha on a major catalyst. pic.twitter.com/6QppHXEK6m
— Redacted Research đď¸ (@RedactedRes) July 2, 2024
Avalanche is renowned for its robust ecosystem and strong brand presence. Its C-Chain (Contract Chain) is one of the largest networks in terms of total value locked (TVL), stablecoin supplies, and on-chain activity.
However, Avalanche’s capabilities extend beyond the C-Chain and its EVM-compatible execution layer. The network is composed of three primary chains:
– Contract Chain (C-Chain)
– Platform Chain (P-Chain)
– Exchange Chain (X-Chain)
In the context of ACP-77, the P-Chain plays a pivotal role. It coordinates validators and manages subnets, overseeing network-wide operations such as the creation and management of subnets (independent blockchains) and validator management.
Avalanche is more than just a primary network; it’s an ecosystem of sovereign, interoperable Layer 1 blockchains. These blockchains can be fully customized and can execute app- or vertical-specific logic using a modular blockchain SDK.
Currently, there are over 40 active subnets on the mainnet or testnet, catering to various sectors from DeFi app chains to gaming chains, and modular infrastructure layers like shared sequencers such as @movementlabsxyz M1 or @nodekitorg.
Galaxy Digital Recently Deposited 520,000 AVAX To BinanceÂ
The spotlight today is on the implications of ACP-77. According to an on-chain report, Galaxy Digital recently deposited 520,000 $AVAX (approximately $14.72 million) to Binance. Just yesterday, they staked 498 BTC.B into AAVE and borrowed 520,000 $AVAX.
11 hours ago, @GalaxyDigital deposited 520k $AVAX (~$14.72M) to #Binance.
Yesterday, they staked 498 BTC.B into #AAVE and borrowed 520k $AVAX.
Address:https://t.co/MD4R3KD7b3https://t.co/n4W8ZY4cqt pic.twitter.com/AEVOcE2K8K
— The Data Nerd (@OnchainDataNerd) July 3, 2024
This strategic move highlights the evolving dynamics within the Avalanche ecosystem, as ACP-77 aims to enhance the network’s interoperability and customization capabilities, solidifying its position as a leading force in the crypto space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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