Algorand’s Protocol Upgrade Introduces State Proofs

Twitter icon  •  Published vor 1 Jahr  •  Hassan Maishera

The Algorand team announced a major upgrade to its protocol via Twitter on Wednesday.

The Algorand team announced a major upgrade to its protocol via Twitter on Wednesday. The upgrade, which is now live on Mainnet, features State Proofs that enable trustless cross-chain communication, an increase in performance from 1,200 to 6,000 transactions per second (TPS), and new tools to streamline development and introduce on-chain randomness capabilities for dApps. 

According to the Algorand team, these features solidify Algorand as the leading Layer-1 blockchain for real-world Web3 applications, ranging from sports to music to CBDCs and DeFi. Algorand explained that State Proofs are an interoperability standard that securely connects blockchains to the outer world without trust in an intermediary.

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 $0.2980 at press time, up by 4% in the last 24 hours.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.