ACP-77: The Reinvesting of Subnet On Avalanche
Avalanche blockchain is one of the networks that provides crypto with the fastest and most reliable multi-chain blockchain systems. Additionally, it's a future-proof blockchain built to scale.
The recent Avalanche Network proposal represents a bold and forward-thinking step in the evolution of the network. With a dynamic subset of Avalanche validators working together to achieve consensus on the state of one or more blockchains on the network, it's necessary to have a seamless platform where users can interact in a decentralized model and flexible way.
Overview of Avalanche Subnet
Subnets in the Avalanche ecosystem serve as an independent network lr blockchain leveraging the mainnet for interoperability. The landscaping of the subnet starts with a minimum stake of 2,000 AVAX which is about $70,000, meaning it's for big guys and this limits the expansion of the subnet ecosystem because no matter how friendly the platform can be to build on avalanche, with 2,000 AVAX, a very small projects and developers wouldn't find it easy due to low-cost effectiveness.
Additionally, to verify a transaction on a network, consensus engines allow all validator nodes in a system to verify such transaction before is approved or rejected, however, subnets at Avalanche use Snowman protocol which works differently.
In Snowman protocol, random validators are picked in small subsets to decide the approval or rejection of a transaction.
A call for reinventing of Subnet
The Avalanche Community Proposal 77 was proposed with an ideology of a continuous payment mechanism for validators to register to the P-Chain instead of the normal 2000 AVAX complete payment. This is set to lower the entry point into subnet adoption.
The proposal is approved and the following is highly possible to follow:
More developers to the avalanche network
Reduction in financial barriers
Maximum flexibility and autonomy on the network
Widespread subnet adoption
Scalable solutions
As of today, the network has 126 subnets, 1490 validators, and a staking pool of 252,089,443 AVAX. Considering ACP 77 which comes with the added advantage to many small projects, it might be a bit of a challenge when checking out the impact it will have on AVAX Tokenomics. We continue to check with overall holding among subnet validators.
Avalanche Community Hub
The community at Avalanche is growing daily and with the introduction of Avalanche Hub in 2021, users enjoy a direct impact on the future internet through the hub created by DaoLabs. Avalanche Hub has become a Social Mining project hub with the largest and most conscious community. The platform creates a regular stream of income for users in the crypto field and it's always a bullish season for the participants as they get rewarded for all their quality work submitted.
Joining a social miner is free and simple. You can check the official handle of DAOLabs to have a better understanding of what Social Mining is.
In conclusion, Avalanche allows developers the opportunity to build anything, any way they want. It's high time to stop wasting time adapting to inflexible systems, start your deployment on the EVM, or use Avalanche's custom VM. Take control with the best custom scaling solutions and supportive developer community on Avalanche.
Learn more:
https://www.avax.network
https://daolabs.com