- Algorand’s new release, 3.16.0-beta, significantly accelerates transaction speed.
- Algorand surpasses many top Layer1s combined in transaction speed.
- Algorand treats all transactions equally, regardless of their complexity.
Algorand has rolled out a new update (3.16.0-beta) that has propelled it into the realm of high-speed transactions, outmatching the combined speeds of many top Layer1 blockchains. Contrary to conventional practice, Algorand upholds the principle of neutrality, treating all transactions equally, whether they are simple Algo transfers or complex smart contracts.
This release, which necessitated a protocol upgrade, comes with a host of enhancements, including a reduction in round time of approximately 0.4 seconds and numerous developer-friendly features. A significant change in this update is the requirement for assets or applications within a contract to have an ID greater than 256, a move that eliminates opcode ambiguity.
The upgrade’s implementation has resulted in a two-fold protocol upgrade, namely Consensus v37 and v38. While no action is required from node runners, this double upgrade enhances the support for State Proof-related options.
The strides made by Algorand are a testament to its commitment to fostering ease and accessibility in the blockchain development space. It continues to bolster the developer experience, whether seasoned or novice, by making blockchain development more approachable.
Algorand’s latest update is more than just an improvement; it’s a revolutionary step in the blockchain industry. With its unwavering commitment to speed, simplicity, and neutrality in transactions, Algorand is indeed shaping the future of blockchain technology.
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.