Algorand reduces block time after upgrade.
On Thursday, Algorand updated its protocol with the aim of reducing block time, increasing the speed of application development on its network, and making it more cost-efficient.
The blockchain, which operates on a proof-of-stake system, will now have a reduced block time of 3.3 seconds (down from 3.8 seconds), making it the “largest reduction of block time on a percentage basis,” according to Algorand Chief Product Officer Paul Riegle.
The upgrade comes at a time when many blockchains are introducing improvements to make themselves more appealing to developers, such as Cardano’s most recent upgrade and BNB Chain’s upgrade last month.
Block time measures the time it takes for the network to produce a new block of transactions.
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Other enhancements include a simulator that allows developers to test and simulate issues before deploying their codebase to the mainnet, as well as a new plugin framework that enables people to create simple, customizable data.
The native cryptocurrency for the Algorand blockchain, ALGO, has risen by 4.9% in the last 24 hours to 12.8 cents, according to blockchain data.
The upgrade, which took into account input from the developer community, comes as Algorand’s mainnet approaches its four-year anniversary and 30 millionth block.
Edited by Sam Reynolds.
