Avalanche Unveils Durango Update to Advance Blockchain Interoperability and More

The Avalanche (AVAX) development team announced the release of the Durango update and introduced the Teleporter tool, which is designed to improve interoperability within its ecosystem.

teleporter, sleepless on March 7, is a tool built on top of Avalanche Warp Messaging (AWM) and deployed on Avalanche's ethereum Virtual Machine (EVM)-compatible network, known as C-Chain.

The Teleporter is specifically designed to improve communication between multiple EVM-compatible Avalanche subnets (subnets), fostering greater cohesion and addressing fragmentation issues within the ecosystem.

This tool facilitates the exchange of various types of data, such as cryptocurrencies, non-fungible tokens (NFTs), and oracle price data, on Avalanche subnets.

The upgrade from Durango to Avalanche represents a significant network upgrade, introducing several changes and improvements.

The team says this update affects several aspects of the network, including staking migration and developer responsibilities.

The Durango update on the Avalanche mainnet has laid the foundation for Teleporter functionality by allowing subnets to communicate seamlessly with C-Chain using Avalanche Warp Messaging (AWM), the team says.

This development is of particular importance to developers as it provides an EVM-compatible interface. Solidity developers (the ethereum programming language) can leverage this interface to initiate arbitrary contract invocations on any subnet within the Avalanche network.

Following the implementation of Durango, management of the staking functionality was moved to Avalanche Wallet, leading to the discontinuation of this feature shortly after the update. Developers currently using Avalanche JSv1 or those who have forked Avalanche Wallet will need to update their systems, as Durango does not support older transaction types.

Additionally, the Core Staking functionality remains active after the release of Durango as it supports the new transaction types introduced by this update. Overall, Durango aims to optimize operations within the Avalanche ecosystem and improve network efficiency.

Additionally, the introduction of the Teleporter tool, along with the Durango update, improves interoperability by facilitating efficient communication between Avalanche subnets, thereby addressing ecosystem fragmentation issues.

Avalanche (AVAX) gains momentum

Avalanche, a cryptocurrency and blockchain platform launched in 2020, has made notable strides in the crypto space.

Recognized for its speed, scalability, and distinctive features, Avalanche stands as a competitor to ethereum (eth) in the space of decentralized applications (dApps) and autonomous blockchains. The platform's native token, AVAX, plays a critical role in the network's transactions, governance and staking, and serves as a store of value.

Avalanche's smart contract platform enables the development of dApps and autonomous blockchains, with one of its notable features being the rapid finality of transactions facilitated by its consensus protocol.

In particular, Avalanche employs a unique fee structure where all processing fees are eliminated and AVAX holders influence the rate of new coin creation through voting.

Avalanche (AVAX)'s recent price movements present a mix of outlooks and forecasts. Technical analysis on TradingView suggests that AVAX has shown signs of a possible breakout, with a price target set at $52.

The current price of Avalanche (AVAX) stands at $42.95, representing a price drop of more than 12% in the last 14 days.

AVAX's market capitalization exceeds $16 billion, based on a circulating supply of 377.3 million tokens. AVAX's fully diluted valuation is estimated at over $18 billion, considering the total supply of 436 million tokens.

The Avalanche ecosystem encompasses the development of blockchain-based games and dApps. Its innovative strategies to address challenges within the blockchain space have attracted considerable attention from developers and investors alike.