Avalanche outage: need for speed

[MrSpasybo]

While Ava Labs is getting ready to upgrade to achieve 100k tps^[1], today the Avalanche blockchain experienced an outage caused by a surge in inscriptions, which are essentially the creation of new subnets on the Avalanche network. The sudden increase in inscriptions overloaded the network, leading to the outage.

The co-founder of AVA Labs, Kevin Sekniqi, believes that the outage was related to a bug in the code. The bug caused the network to incorrectly process inscriptions, leading to a backlog of transactions and ultimately the outage.

"​​Obviously, this is some esoteric bug from some edge case which should be handled quickly. Likely some mempool handling issue with inscriptions that hit some untested edge cases^[2]."

I hope the update, Avalanchego v1.1.1, will address the bug and prevent future outages from occurring.

This Avalanche outage highlights the challenges of scaling blockchain networks. I really hope that the 100k tps Vryx update will help the Avalanche blockchain avoid similar scalability issues in the future. At the same time, great speed can also help Avalanche be proactive and gain all the positive impact from the Inscription wave with the excitement of the ASC-20 token in the upcoming bullrun^[3].

And while we haven't had time to worry about the negative impact from unlocking the 9.54M AVAX token event that took place yesterday^[4] on the AVAX token price, now we continue to need to worry about the negative impact from this outage. As an Avalanche fan, I really did not expect the AVAX token price to retest the Fibo 0.618 ~ $25 zone.

What do you think about this Avalanche outage? Will AVAX token price be negatively affected? Did this event impact your investment decision in AVAX token?
[1] Ava Labs Offers Solution To Increase Avalanche Performance To 100,000 TPS
[2] Avalanche Blockchain Faces Outage Amid Inscription Wave: AVA Labs Investigates
[3] Avalanche gets the ‘Ordinals’ bump, sets new transaction record
[4] Avalanche's AVAX Underperforms Ahead of $365M Token Unlock

[KryptoBull]

And while we haven't had time to worry about the negative impact from unlocking the 9.54M AVAX token event that took place yesterday^[4] on the AVAX token price, now we continue to need to worry about the negative impact from this outage. As an Avalanche fan, I really did not expect the AVAX token price to retest the Fibo 0.618 ~ $25 zone.

What do you think about this Avalanche outage? Will AVAX token price be negatively affected? Did this event impact your investment decision in AVAX token?

AVAX is also a bit unlucky, while being suspected of offering a discount for unlocking more than 9M tokens, it immediately encountered an outage similar to Solana recently. SOL increased in price sharply and there are many new and extremely famous projects in the ecosystem, so the token price continues to be kept above 100 USD and increasing. AVAX is not so lucky, everything Avalanche is focusing on is still just improving speed and expanding partnerships - these things do not directly support AVAX's price when there is negative news.

AVAX's biggest hope right now is a strong recovery of the market, BTC not falling below 50K USD. If the BTC price drops, AVAX will be very negatively affected and may drop to 25 USD as you worry.

I see this market as financial speculation only. As long as AVAX increases well, it is still worth considering and investing in.

[MrSpasybo]

AVAX is also a bit unlucky, while being suspected of offering a discount for unlocking more than 9M tokens, it immediately encountered an outage similar to Solana recently. SOL increased in price sharply and there are many new and extremely famous projects in the ecosystem, so the token price continues to be kept above 100 USD and increasing. AVAX is not so lucky, everything Avalanche is focusing on is still just improving speed and expanding partnerships - these things do not directly support AVAX's price when there is negative news.

AVAX's biggest hope right now is a strong recovery of the market, BTC not falling below 50K USD. If the BTC price drops, AVAX will be very negatively affected and may drop to 25 USD as you worry.

I see this market as financial speculation only. As long as AVAX increases well, it is still worth considering and investing in.

Storms come suddenly and are difficult to avoid. When Inscription first appeared and switched to Avalanche, many ASC-20 tokens also caused network congestion and increased transaction fees, but not to the outage @@ I think this is just a problem due to the recent upgrade to Avalanche, a trade-off of risk for development progress. It's also good that Avalanche encountered bugs and fixed them promptly, the problem should have been discovered and resolved before the 100k tps upgrade was applied and the technology became more complex.

Bug fixes and upgrades will give Avalanche new power, enough to operate and serve users stably in the upcoming cycle!

[erus]

~snip~
What do you think about this Avalanche outage? Will AVAX token price be negatively affected? Did this event impact your investment decision in AVAX token?
~snip~

https://coinmarketcap.com/currencies/avalanche/

Now Avalanche is ranked in the top 12 on Coinmarketcap but this FUD makes me hesitate to continue monitoring Avalanche. Somehow when the blockchain experiences an Outage it is like a very serious problem, just like the Solana coin which has experienced Outages several times. But I see this FUD does not have much effect on Avalanche and Solana, maybe now in a position that will Bull Run so most investors choose to buy and hodL Avalanche or Solana.
I think chain updates like this require quite expensive costs because they have to develop the latest technology from Avalanche so that there is no Outage, do you know how much it costs if Avalanche upgrades its blockchain?

[MrSpasybo]

https://coinmarketcap.com/currencies/avalanche/

Now Avalanche is ranked in the top 12 on Coinmarketcap but this FUD makes me hesitate to continue monitoring Avalanche. Somehow when the blockchain experiences an Outage it is like a very serious problem, just like the Solana coin which has experienced Outages several times. But I see this FUD does not have much effect on Avalanche and Solana, maybe now in a position that will Bull Run so most investors choose to buy and hodL Avalanche or Solana.
I think chain updates like this require quite expensive costs because they have to develop the latest technology from Avalanche so that there is no Outage, do you know how much it costs if Avalanche upgrades its blockchain?

This is just an old event in the Avalanche ecosystem. Currently, Avalanche is operating quite stably and the speed is still maintained at a high level. Vryx can actually bring 100k tps to Avalanche without sacrificing stability, so users can rest assured.

AVAX price has recovered quite well from $9, returning to the equilibrium zone at $50 in 2024 is a feat that only a few truly potential ALTs can achieve. I have stopped worrying about the future of AVAX, I am just waiting for a strong and sudden increase in AVAX price so I can take profit AVAX at price zone above $300.

[erus]

https://coinmarketcap.com/currencies/avalanche/

Now Avalanche is ranked in the top 12 on Coinmarketcap but this FUD makes me hesitate to continue monitoring Avalanche. Somehow when the blockchain experiences an Outage it is like a very serious problem, just like the Solana coin which has experienced Outages several times. But I see this FUD does not have much effect on Avalanche and Solana, maybe now in a position that will Bull Run so most investors choose to buy and hodL Avalanche or Solana.
I think chain updates like this require quite expensive costs because they have to develop the latest technology from Avalanche so that there is no Outage, do you know how much it costs if Avalanche upgrades its blockchain?

~snip~
Vryx can actually bring 100k tps to Avalanche without sacrificing stability, so users can rest assured.

Do you mean VRYX is a token on the Avalanche blockchain?
https://coinmarketcap.com/dexscan/avalanche/0xa1eb112e55c0b4bb0e89019a2ba69072702f192b/
I checked it on Coinmarketcap and found this VRYX. Unfortunately the trading volume is very small, around 2,000 dollars.
Considering that 100,000 TPS is very large, I think VRYX is also good if it can really send its tokens in 1 second, it can reach 100,000 coins.

AVAX price has recovered quite well from $9, returning to the equilibrium zone at $50 in 2024 is a feat that only a few truly potential ALTs can achieve. I have stopped worrying about the future of AVAX, I am just waiting for a strong and sudden increase in AVAX price so I can take profit AVAX at price zone above $300.

Now the price is around $36.2 and you target Avalanche price around $300, that means it takes about 10x or 1,000 percent for Avalanche to increase.
Avalanche marketcap is now around $26,085,449,189, if you want to reach your target of around $300, that means times 10 = $260,854,491,890. Fantastic value, very high mate.

[MrSpasybo]

Do you mean VRYX is a token on the Avalanche blockchain?
https://coinmarketcap.com/dexscan/avalanche/0xa1eb112e55c0b4bb0e89019a2ba69072702f192b/
I checked it on Coinmarketcap and found this VRYX. Unfortunately the trading volume is very small, around 2,000 dollars.
Considering that 100,000 TPS is very large, I think VRYX is also good if it can really send its tokens in 1 second, it can reach 100,000 coins.

Now the price is around $36.2 and you target Avalanche price around $300, that means it takes about 10x or 1,000 percent for Avalanche to increase.
Avalanche marketcap is now around $26,085,449,189, if you want to reach your target of around $300, that means times 10 = $260,854,491,890. Fantastic value, very high mate.

I want to talk about Vryx - the scaling solution on Avalanche. It's not a separate project or token within this ecosystem. I don't know of any VRYX token, and it's probably unrelated to Avalanche 100k tps. Please be cautious!

100k tps = 100k transactions per second, not 100k tokens per second. You can transfer millions of meme tokens in each transaction ^^

AVAX once reached an ATH of $151 in the bullrun 2021, so an ATH of $300 is completely normal in terms of the marketcap that AVAX can achieve in this cycle. The only issue I'm concerned about is whether AVAX price has enough strength to reach this price zone, as the Layer-0 & Layer-1 market is facing fierce competition from many highly potential projects.

[erus]

Do you mean VRYX is a token on the Avalanche blockchain?
https://coinmarketcap.com/dexscan/avalanche/0xa1eb112e55c0b4bb0e89019a2ba69072702f192b/
I checked it on Coinmarketcap and found this VRYX. Unfortunately the trading volume is very small, around 2,000 dollars.
Considering that 100,000 TPS is very large, I think VRYX is also good if it can really send its tokens in 1 second, it can reach 100,000 coins.

Now the price is around $36.2 and you target Avalanche price around $300, that means it takes about 10x or 1,000 percent for Avalanche to increase.
Avalanche marketcap is now around $26,085,449,189, if you want to reach your target of around $300, that means times 10 = $260,854,491,890. Fantastic value, very high mate.

I want to talk about Vryx - the scaling solution on Avalanche. It's not a separate project or token within this ecosystem. I don't know of any VRYX token, and it's probably unrelated to Avalanche 100k tps. Please be cautious!

Thanks for the info mate. I thought Avalanche created the VRYX token.
I will take note of this and I will stay away from something so taboo that I don't fall into the trap of scammers.

100k tps = 100k transactions per second, not 100k tokens per second. You can transfer millions of meme tokens in each transaction ^^

Noted. Thank you for clarifying this information, this is new knowledge for me.

AVAX once reached an ATH of $151 in the bullrun 2021, so an ATH of $300 is completely normal in terms of the marketcap that AVAX can achieve in this cycle. The only issue I'm concerned about is whether AVAX price has enough strength to reach this price zone, as the Layer-0 & Layer-1 market is facing fierce competition from many highly potential projects.

That means you are referring to Avalanche's all-time high in 2021 which reached 151 dollars but you are also pessimistic about the Avalanche project which relies on Layer 0 and Layer 1 only because in this crypto circle, Layer 0 and Layer 1 are already widely circulated, isn't that right mate?

[MrSpasybo]

That means you are referring to Avalanche's all-time high in 2021 which reached 151 dollars but you are also pessimistic about the Avalanche project which relies on Layer 0 and Layer 1 only because in this crypto circle, Layer 0 and Layer 1 are already widely circulated, isn't that right mate?

I am rather optimistic about Avalanche future as it has a large ecosystem and continuous upgrades during the crypto winter. AVAX price has recovered quite well and I believe it can return to its ATH in 2021 and then move to higher price zones in the bullrun and altseason.

Those who have followed Avalanche in the 2021 bullrun will understand the true power of this Layer-1 blockchain. Currently, Avalanche has become Layer-0 with C-chain, so its potential is even greater, so I will still support Avalanche and hold AVAX until negative signals appear on BTC price chart and AVAX price chart.

[erus]

That means you are referring to Avalanche's all-time high in 2021 which reached 151 dollars but you are also pessimistic about the Avalanche project which relies on Layer 0 and Layer 1 only because in this crypto circle, Layer 0 and Layer 1 are already widely circulated, isn't that right mate?

~snip~
Those who have followed Avalanche in the 2021 bullrun will understand the true power of this Layer-1 blockchain. Currently, Avalanche has become Layer-0 with C-chain, so its potential is even greater,

Layer-1 I know a little bit about how it works.
Layer-2 I also know a little bit about how it works like Arbitrum, Optimism, Aptos etc.
Layer-0 is what I don't know yet and is Avalanche's C-Chain the same way it works as blockchain?

so I will still support Avalanche and hold AVAX until negative signals appear on BTC price chart and AVAX price chart.

What do you mean by this negative signal from Avalanche?
Is it about price drop, bad news or is it negative signals Avalanche?

[MrSpasybo]

Layer-1 I know a little bit about how it works.
Layer-2 I also know a little bit about how it works like Arbitrum, Optimism, Aptos etc.
Layer-0 is what I don't know yet and is Avalanche's C-Chain the same way it works as blockchain?

What do you mean by this negative signal from Avalanche?
Is it about price drop, bad news or is it negative signals Avalanche?

Layer-0 is an environment where multiple Layer-1 blockchains can operate. Each C-chain can be considered a Layer-1 and they run on Avalanche technology platform, making Avalanche a Layer-0, similar to Cosmos and Polkdot. I quite like Layer-0 so I have chosen AVAX, ATOM and DOT, luckily AVAX is bringing me profit.

The negative signal I want to mention is the change in trend on AVAX price chart, for example, falling out of the uptrend channel or having divergences in many technical indicators. Although I believe in the potential of Avalanche, I trust the market psychological cycle more, so I always have a plan to take profit and leave the crypto market in 2025 to be able to accumulate more tokens during the crypto winter 2026 ^^

[erus]

Layer-1 I know a little bit about how it works.
Layer-2 I also know a little bit about how it works like Arbitrum, Optimism, Aptos etc.
Layer-0 is what I don't know yet and is Avalanche's C-Chain the same way it works as blockchain?

What do you mean by this negative signal from Avalanche?
Is it about price drop, bad news or is it negative signals Avalanche?

Layer-0 is an environment where multiple Layer-1 blockchains can operate. Each C-chain can be considered a Layer-1 and they run on Avalanche technology platform, making Avalanche a Layer-0, similar to Cosmos and Polkdot. I quite like Layer-0 so I have chosen AVAX, ATOM and DOT, luckily AVAX is bringing me profit.

I have read a little information about layer 0 from Coinmarketcap and it turns out that Layer 0 is designed most vitally for Scalability and Interoperability so that the Avalanche coin can compete with Bitcoin and Ethereum technology which is very slow in terms of transactions.
As far as I understand from Scalability and Interoperability, it is to lighten every transaction load or load in the blockchain of a coin so as to create fast transactions without intermediaries.

Conclusion
Layer 0 coins represent a critical advancement in the blockchain ecosystem, offering innovative solutions to scalability and interoperability challenges. As Polkadot, Avalanche, and Cosmos showcase their unique approaches to Layer 0 implementation, it becomes clear that this technology has the potential to reshape the future of blockchain networks. By understanding the fundamentals of Layer 0 coins and their various applications, investors and enthusiasts can stay ahead of the curve and make more informed decisions in the rapidly evolving cryptocurrency landscape.

Source : https://coinmarketcap.com/academy/article/b0febc05-d6b0-4475-8373-2933dff28f45

It turns out what you said is true, Avalanche, Atom Cosmos and Polkadot are the first to pioneer Layer 0 technology in crypto. I think these three coins Avalanche, Atom Cosmos and Polkadot will continue to compete forever about Layer 0 and if all three lose in technology I'm sure there will be one left behind and the price of the coin will drop.

The negative signal I want to mention is the change in trend on AVAX price chart, for example, falling out of the uptrend channel or having divergences in many technical indicators. Although I believe in the potential of Avalanche, I trust the market psychological cycle more, so I always have a plan to take profit and leave the crypto market in 2025 to be able to accumulate more tokens during the crypto winter 2026 ^^

Thank you mate for this information, I also think I should not be too late to wait for winter in 2026 because tomorrow is 2025 where "they say" the market will be hot and various crypto coins will rise.

[MrSpasybo]

I have read a little information about layer 0 from Coinmarketcap and it turns out that Layer 0 is designed most vitally for Scalability and Interoperability so that the Avalanche coin can compete with Bitcoin and Ethereum technology which is very slow in terms of transactions.
As far as I understand from Scalability and Interoperability, it is to lighten every transaction load or load in the blockchain of a coin so as to create fast transactions without intermediaries.

It turns out what you said is true, Avalanche, Atom Cosmos and Polkadot are the first to pioneer Layer 0 technology in crypto. I think these three coins Avalanche, Atom Cosmos and Polkadot will continue to compete forever about Layer 0 and if all three lose in technology I'm sure there will be one left behind and the price of the coin will drop.

Thank you mate for this information, I also think I should not be too late to wait for winter in 2026 because tomorrow is 2025 where "they say" the market will be hot and various crypto coins will rise.

Well, joining the market at this time is quite lucky because you don't have to endure the crypto winter 2022-2024 for most ALTs. 2025 is right around the corner and profit-making opportunities await wise and sober investors.

I love Layer-0 and expect their success, however, so far Layer-0 has not received significant attention and cash flow. DOT and ATOM have not been able to escape the bottom, while AVAX has not achieved impressive growth like SOL and Avalanche is not yet truly famous as a Layer-0.

ERC-7683 also opens up the possibility of seamless interaction between blockchains in the expanded Ethereum Layer-1 & Layer-2 ecosystem. The role of Layer-0 is being threatened as ecosystems are finding ways to self-improve and cooperate with each other instead of needing a middle Layer-0 with many limitations and strict requirements.

[erus]

I have read a little information about layer 0 from Coinmarketcap and it turns out that Layer 0 is designed most vitally for Scalability and Interoperability so that the Avalanche coin can compete with Bitcoin and Ethereum technology which is very slow in terms of transactions.
As far as I understand from Scalability and Interoperability, it is to lighten every transaction load or load in the blockchain of a coin so as to create fast transactions without intermediaries.

It turns out what you said is true, Avalanche, Atom Cosmos and Polkadot are the first to pioneer Layer 0 technology in crypto. I think these three coins Avalanche, Atom Cosmos and Polkadot will continue to compete forever about Layer 0 and if all three lose in technology I'm sure there will be one left behind and the price of the coin will drop.

Thank you mate for this information, I also think I should not be too late to wait for winter in 2026 because tomorrow is 2025 where "they say" the market will be hot and various crypto coins will rise.

Well, joining the market at this time is quite lucky because you don't have to endure the crypto winter 2022-2024 for most ALTs. 2025 is right around the corner and profit-making opportunities await wise and sober investors.

Do you know when the winter season in 2025 will occur? Or is it the average from previous history that this winter will occur in 2026?

I love Layer-0 and expect their success, however, so far Layer-0 has not received significant attention and cash flow. DOT and ATOM have not been able to escape the bottom, while AVAX has not achieved impressive growth like SOL and Avalanche is not yet truly famous as a Layer-0.

I think Solana's strength is from various airdrop events so that the community on Solana directly enters into trading and trades Solana coins every day. This is the pure effect of the airdrop that I noticed almost every 6 months there is an airdrop listed on the Solana blockchain.
Polkadot, Atom, and Avalanche may also have airdrops but not as many as those issued on the Solana blockchain and I also think what's interesting about the Solana coin is its cheap fee price and fast speed. Maybe that's what makes Solana strong, not just from its Layer 0.

ERC-7683 also opens up the possibility of seamless interaction between blockchains in the expanded Ethereum Layer-1 & Layer-2 ecosystem. The role of Layer-0 is being threatened as ecosystems are finding ways to self-improve and cooperate with each other instead of needing a middle Layer-0 with many limitations and strict requirements.

This ERC-7683 is new knowledge for me and I have to relearn about ERC-7683 from Avalanche.

[MrSpasybo]

Do you know when the winter season in 2025 will occur? Or is it the average from previous history that this winter will occur in 2026?

I think Solana's strength is from various airdrop events so that the community on Solana directly enters into trading and trades Solana coins every day. This is the pure effect of the airdrop that I noticed almost every 6 months there is an airdrop listed on the Solana blockchain.

Polkadot, Atom, and Avalanche may also have airdrops but not as many as those issued on the Solana blockchain and I also think what's interesting about the Solana coin is its cheap fee price and fast speed. Maybe that's what makes Solana strong, not just from its Layer 0.

This ERC-7683 is new knowledge for me and I have to relearn about ERC-7683 from Avalanche.

I believe 2025 will be a bullrun year, followed by a crypto winter starting in 2026. My plan is to hold to signal in 2025, then start DCA at the end of 2026.

Cosmos also had many new projects and ATOM stakers received quite a large airdrop. However, as you said, Solana has more famous airdrops and this is one of the important drivers in its recovery process.

ERC-7683 is a new token standard on Ethereum, which makes the interaction between layers more convenient. You can learn about them to better understand the communication mechanisms between chains.