The Avalanche "subnet" is now renamed Avalanche Layer 1 (L1), a commonly application-specific blockchain that can be customized to meet the specific needs of different use cases. Additionally, Avalanche initiated community proposal ACP-77, which aims to reform the creation and management design of Avalanche L1, bringing more flexibility and autonomy to Avalanche L1 validators.
On August 10, according to Jin Ten, Omid Kordestani, the former chairperson of Twitter (now renamed X), sued the social platform company, claiming that its owner, Tesla CEO Elon Musk, refused to cash in more than $20 million worth of outstanding stock. Omid Kordestani, who served as executive chairperson of Twitter from 2015 to 2020 and served on the board for another two years until Musk bought the platform for $44 billion, said in the complaint that most of his compensation was stock, but Elon...