Avalanche to Conduct Retro9000 Project Snapshot on October 14

Avalanche announced that the next Retro9000 project snapshot will take place on October 14, at 12:00 UTC. Only Avalanche Layer 1 networks operating on mainnet and infrastructure-related tooling will be eligible for funding consideration. The initiative aims to support active builders within the Avalanche ecosystem as part of ongoing development and innovation efforts.

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.