• Algorand’s latest protocol upgrade reduced block time from 3.8 seconds to 3.3 seconds.
  • This is the largest decrease in percentage of block time in a PoS network and comes at a time when blockchains are looking to improve their performance in the race.
  • Algorand’s native token, ALGO, climbed close to $0.13 before falling slightly on Thursday afternoon.

Algorand has released a new upgrade that significantly reduces the protocol’s blocking time and improves network performance.

Proof of Stake Network announced The new upgrade went live on mainnet on Thursday. I noticed that my network speed improved by more than 10% with a block time of 3.3 seconds, a reduction in network speed from his previous 3.8 seconds. Percentage-wise, it’s Algorand’s biggest block time reduction.

Notably, Algorand maintains instant transaction finality, noted in the protocol upgrade announcement. This upgrade makes application development on PoS networks faster and more cost-effective.

Native token ALGO surged nearly 5% on the news, trading near $0.13. However, it is trading near $0.125 at the time of writing, up about 1.5% over the past 24 hours.

Cardano and BNB Chain also introduce upgrades

Algorand’s reduction in block time comes amid similar upgrades across the ecosystem as blockchain seeks to tap into the growing developer ecosystem.

Earlier this week, Cardano introduced an upgrade 8.1.1 aimed at speeding up network processes and improving performance during epoch transitions. His BNB Chain Luban hard fork, introduced last month, also aimed to improve network speed and security.

For Algorand, the latest upgrade introduced other enhancements such as Simulate, a tool that allows developers to simulate smart contracts and test them for bugs and other issues before deploying them to mainnet. Another tool is Conduit, which gives you flexible and affordable access to your data.

We’re focused on Algorand, developer engagement, and delivering the best technology end-users can experience.said Paul Riegl, Chief Product Officer, Algorand.

The new feature, he said, means developers can leverage faster, more efficient testing and customized datasets to quickly build and bring to market higher quality dApps.

By Jules

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