Avalanche Cortina Upgrade is live
The Avalanche Cortina Upgrade has been live since yesterday. The AVAX blockchain thus provides improved technical possibilities. By increasing simplicity for independent developers one wants to conquer the DeFi sector. The project is already well positioned in this area.
Avalanche Cortina Upgrade is Live: What to Expect Now?
The Avalanche Cortina Upgrade has been live since yesterday. The currently sixteenth largest cryptocurrency by market capitalization is hoping for strong growth from the improvement.
With the update, Avalanche is partially switching to a new consensus mechanism. The network uses an intricate contingent of different blockchains that work together symbiotically.
One of these blockchains goes by the name of X-Chain and processes transactions from AVAX or other Avalanche-based tokens. In addition, with the P-Chain and C-Chain, two other elements take on important tasks in the network – the processing of smart contracts and the handling of staking.
With the adoption of the Snowman++ consensus mechanism , the entire network now runs on a single consensus. This drastically simplifies the development of applications for Avalanche.
In addition, the so-called subnets can be better integrated into crypto applications such as centralized crypto exchanges or dApps. Subnets are semi-autonomous blockchains that build on Avalanche and independently define their token economy.
Avalanche presents all the details about the upgrade in a blog post .
What to expect now?
With the Cortina upgrade, Avalanche provides new technical functions – above all Avalanche Warp Messaging (AWM) . This significantly increases the interoperability between individual subnets and the Avalanche network.
In this way, Avalanche wants to combat a problem that other smart contract platforms encounter again and again. Bridges are often created between individual blockchains – one speaks of so-called token bridges .
However, these are as useful as they are risky. Fatal attacks occur again and again. By eliminating these bridges, the Avalanche network aims to provide better security. In addition, the amount of work in the ecosystem is reduced because developers do not have to design special bridges.
All in all, Cortina should make Avalanche much more interesting for developers than it was before. According to data from DefiLlama, AVAX currently ranks seventh among the most popular DeFi blockchains.
More popular are Ethereum , ETH scaling solutions Polygon, Arbitrum and Optimism, and independent blockchains Tron and BNB. DefiLlama scores by Trapped Monetary Value (TVL). AVAX’s TVL is currently $805 million.
With 302 individual DeFi applications, AVAX is already in the midfield. In the future, this number could increase significantly if the concept succeeds in increasingly addressing independent developers.
