Banff Update: What's to come for Dapps

•

Recently, Avalanche Go updated to its last version, AvalancheGo v1.9.0, which includes one of the most significant updates on the chain to this date: ELASTIC SUBNETS ⚡ But what does this mean for Avalanche? More than you might think. Check this out 🧵:

Banff is one of the most important updates on Avalanche for its long-term sustainability since it enables elastic subnets. If subnets were already pretty customizable according to the needs of each chain, now they expand their malleability through Avalanche Go V1.9.0

According to @_patrickogrady, an engineer at @avalabsofficial, "Banff unlocks the ability for Subnet creators to activate Proof-of-Stake validation and uptime-based rewards using their token on their Subnet".

This means that now ANTs (Avalanche Native Tokens) that are used as gas on subnets and reward tokens have a bigger spectrum of usage.

We will dive into this precise point later on this thread, since it is the biggest perk for builders in the ecosystem, and my main goal with my weekly threads is to inform every builder on this space.

Even though upgrading from subnets to elastic subnets implies a brief update, the way EASs (Elastic Avalanche Subnets) adapt to DApps is incredibly seamless and profitable. This is how Avalanche Native Tokens could earn more inherent value in the following years.

An important aspect of this new way of creating blockchains is how the creator needs to renounce the option of modifying the subnet later, relinquishing the control keys. This obviously implies a start on progressive decentralization for the chain.

Also, the creator can modify an extensive list of values that rule how the subnet works, so it adapts to the chain's needs: (Extracted from avatlon.net/banff-elastic-subnets/)

"So, how can EASs give ANTs inherent value?" If validation requirements and rewards are sustainable for validators, they would need to buy and lock an important amount of tokens, generating more financial confidence in said token's investors.

There is a LOT to talk about regarding how elastic subnets came to change blockchains forever, but we will develop those topics soon in upcoming threads.