Algorand Releases New Protocol Upgrade
Algorand (ALGO) has released a protocol change that cuts block confirmation times to about 3.3 seconds, boosting network throughput.
The time it takes miners or validators to verify a transaction and create a new block is referred to as block time. This affects network speed, which is measured in Transactions Per Second (TPS). Low block times/high TPS are important aspects of overcoming the scalability difficulty.
Other enhancements included smart contract simulation to test for issues prior to deployment, developer capabilities such as group resource sharing and endpoints for transaction group state updates, and improved data access solutions.
Paul Riegle, chief product officer at Algorand, said the company is focused on building the best technology for developers to deliver engaging user experiences. He added: “Through these new capabilities, builders can get higher quality dApps to market faster through customized data sets and faster and more efficient testing.”
(With inputs from Shikha Singh)
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