{"id":23593,"date":"2022-09-08T12:13:37","date_gmt":"2022-09-08T06:43:37","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=23593"},"modified":"2024-03-27T12:16:20","modified_gmt":"2024-03-27T06:46:20","slug":"algorand-ups-its-game-with-a-major-protocol-upgrade","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/algorand-ups-its-game-with-a-major-protocol-upgrade\/","title":{"rendered":"Algorand ups its game with a major protocol upgrade"},"content":{"rendered":"

It looks like a season of blockchain protocol upgrades in the crypto market. Algorand, a proof-of-stake, Layer 1 blockchain network, announced a major upgrade to its protocol that features state proofs to enable trustless cross-chain communication and increase the speed of the blockchain from 1,200 to 6,000 TPS.<\/p>\n

TPS refers to transactions per second and indicates the scalability of the blockchain at which it can process transactions.<\/p>\n

The upgrade comes with new tools to streamline development and introduces on-chain randomness capabilities for dApps, which will strengthen Algorand\u2019s position in the market as a leading Layer-1 blockchain for Web3 applications.<\/p>\n

Algorand\u2019s state proofs are an interoperability standard that securely connects different blockchains without intermediaries or blockchain oracles. It will help developers to reduce their dependence on centralized cross-chain bridges and validators to handle their assets. Also, Algorand\u2019s state proofs are simple, quantum-secure, and provide a trustless interface that any proof-of-stake platform can use without any cost escalation.<\/p>\n

“With today’s release, Algorand proves once again that decentralization does not need to come at the cost of performance or security,” said Silvio Micali, founder of Algorand.<\/p>\n

“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,” Micali added.<\/p>\n

Its token ALGO<\/a> is currently trading up 4.75% at $0.2982.<\/p>\n\n\n

FAQs<\/h2>\n\n\n
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What are the features of Algorand?<\/h3>\n
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Algorand features include pure proof-of-stake, fast transactions, low fees, scalability, decentralization, and Byzantine Agreement.<\/p>\n\n<\/div>\n<\/div>\n

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What is the difference between ethereum and Algorand?<\/h3>\n
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Unlike Ethereum, Algorand uses pure proof-of-stake, providing higher scalability, lower fees, immediate finality, and a more secure consensus mechanism.<\/p>\n\n<\/div>\n<\/div>\n

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What is the advantage of Algorand?<\/h3>\n
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Algorand’s advantages lie in its scalability, low fees, immediate finality, and secure consensus mechanism.<\/p>\n\n<\/div>\n<\/div>\n

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What type of blockchain is Algorand?<\/h3>\n
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Algorand is a permissionless, public, and decentralized blockchain that utilizes pure proof-of-stake consensus.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

It looks like a season of blockchain protocol upgrades in the crypto market. Algorand, a proof-of-stake, Layer 1 blockchain network, announced a major upgrade to its protocol that features state proofs to enable trustless cross-chain communication and increase the speed of the blockchain from 1,200 to 6,000 TPS. TPS refers to transactions per second and […]<\/p>\n","protected":false},"author":67,"featured_media":23597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[460,6530],"tags":[6467,6536],"class_list":["post-23593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news-2","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-07-22T13:28:55+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Praniket Nayka\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/praniket\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4b22173b861c31fe922bbaf46c336561?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"Beginner","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/23593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=23593"}],"version-history":[{"count":4,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/23593\/revisions"}],"predecessor-version":[{"id":39879,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/23593\/revisions\/39879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/23597"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=23593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=23593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=23593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}