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Avalanche to Release Network Upgrade on March 6th — TradingView News

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Avalanche is set to undergo a network upgrade, dubbed Durango, on March 6. This upgrade will result in the termination of staking functionality on the Avalanche wallet website. The staking transaction types currently used by the wallet will be deprecated.

Refer to the official tweet by AVAX:

The proposed Durango network upgrade is a week away on Mar. 6, which will end staking functionality on https://t.co/6WDOAtKJGd, deprecating the staking txn types the wallet uses.

Get details in the wallet phase-out guide and migrate to @coreapp Stake https://t.co/FjpspIT3CH

Feb 28, 2024

AVAX Info

Avalanche is an open blockchain platform that was created to run decentralized applications and create various custom blockchains.

The main advantage of Avalanche is that it has high throughput and low latency, making it ideal for scalable applications. The Avalanche network can process over 4,500 transactions per second with only a few seconds of latency.

Avalanche uses a consensus model known as Avalanche Consensus. The model allows the network to function faster and more reliably than other blockchain technologies. Consensus uses re-voting by validators, which makes the consensus process fast and efficient. For horizontal scaling, Avalanche uses subnets that allow you to create custom blockchains that are compatible with the main network. The number of subnets is unlimited.

The Avalanche network consists of three interacting blockchains:

Platform Chain (P-Chain) — responsible for coordinating validators, keeping track of active subnets and allowing you to create new ones.

Contract Chain (C-Chain) — allows you to create smart contracts compatible with Ethereum.

Exchange Chain (X-Chain) — provides fast asset exchange operations.

The project’s token is AVAX, used to pay transaction fees, participate in consensus through staking, and provide infrastructure resources.