Hassan Maishera
The Algorand team announced via Twitter on Thursday that it has successfully upgraded its protocol to include new and improved features. The protocol upgrade, now live on Mainnet, reduces block time to roughly 3.3 seconds - a more than 10 percent increase in speed - while maintaining instant transaction finality.
New features include group resource sharing for application calls, devmode timestamp control for testing dApps and new Algod endpoints for transaction group state updates.
Algorand also introduced Simulate, a powerful simulator for smart contracts. Simulate allows developers to rigorously test, identify and rectify any issues ahead of deploying to Mainnet.
Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products.” As such, Algorand ensures "full participation, protection and speed within a truly decentralized network." ALGO is trading at $0.2164 at press time, down by more than 1% in the last 24 hours.
