Algorand, the pure proof-of-stake, carbon-negative Layer 1 blockchain network has announced a major upgrade to its protocol. The latest upgrade which features State Proofs is now live on Mainnet.
The features in the upgrade include 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.
These features solidify Algorand as the leading Layer-1 blockchain for real-world Web3 applications, ranging from sports to music to CBDCs and DeFi.
Speaking about the upgrade, Algorand founder, Silvio Micali said, ”With today’s release, Algorand proves once again that decentralization does not need to come at the cost of performance or security”
‘‘Interoperability between blockchains is the future, and Algorand State Proofs is 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 added.
In terms of performance, the upgrade increases Algorand’s TPS from 1,200 to 6,000, allowing organizations building on Algorand to continue to scale to meet the growing demand for Web3 applications.
Algorand will be playing a huge role as a partner in the next FIFA world cup in Qatar. The network supports applications that can scale to billions of participants, all on a high-speed, carbon-negative, secure and stable network.
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