The Algorand blockchain has released a significant upgrade to the network with improved performance and security to enable faster transactions.
According to the announcement, the new upgrade dubbed Algorand 3.9 features state proofs designed to facilitate trustless interoperability between blockchains, making it easy for developers to build cross-chain products, including direct bridges, thereby reducing the workload for existing bridging protocols.
Faster Transactions and Speed
Integrating state proofs on the protocol will also accelerate its speed to support the traffic generated from the various decentralized applications (dApps) based on the Algorand ecosystem. The upgrade comes with an increased transaction capacity from 1,200 to 6,000 transactions per second (TPS).
“This upgrade marks another major milestone on Algorand’s roadmap. From State Proofs, which are a game-changing blockchain interoperability security feature, to increased TPS, we are unlocking the tools required for Web3 applications to fulfill their vast potential,” Paul Riegle, Chief Product Officer at Algorand, said.
The Algorand blockchain has also been reinforced to produce larger blocks at 5Mib and faster blocks using the sub-4-second block latency and finality functionality from the state proofs. It also has improved development tools to enable on-chain randomness capabilities for dApps.
Speaking on the new development, Silvio Micali, the founder of Algorand, stated that the upgrade proves that the blockchains could achieve decentralization without sacrificing performance or security.
“Interoperability between blockchains is the future, and Algorand State Proofs are a critical security feature for communication between networks. We are extremely proud of this innovation and believe it will push the entire blockchain landscape forward,” he said.
Algorand’s New Features Will Be Available Next Week
Per the announcement, the new features will be made available next week after the completion of the upgrade.
As a PoS-enabled blockchain that uses validators to verify and confirm transactions, the latest upgrade will help accelerate the network’s capabilities to place it at the technological forefront, competing against other top networks.
Since its launch in 2019, the protocol has not experienced a downturn, making it the home of a broad range of applications offering different services to the crypto community.
Earlier this month, the network signed an agreement with Boston University and the Kenyan agricultural firm Hello Tractor to promote blockchain technology to help African farmers curb fast-rising food shortages on the continent.
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Source: https://coinfomania.com/algorand-rolls-out-upgrade-6000-tps/