Algorand developers carried out a network upgrade. According to the statement, the update increased the blockchain’s throughput from 1,200 to 6,000 TPS.
1/ Major Protocol Upgrade: Now live on #Algorand MainNet, the release introduces State Proofs for trustless cross-chain communication and 5x faster performance 👉 https://t.co/nN6hw5MPxp pic.twitter.com/wH2tW2fi2O
— Algorand (@Algorand) September 7, 2022
The upgrade includes State Proofs. This tool is a standard of functional interoperability of blockchains with the external world without intermediaries.
“Decentralisation should not come at the expense of performance or security. Interoperability between blockchains is the future, and State Proofs is the most important security feature for cross-network connectivity,” said Silvio Micali, founder of Algorand.
The team noted that Visa processes 1,500–2,000 TPS, Bitcoin can handle around five transactions per second, and Ethereum up to ten.
“This update marks an important milestone in Algorand’s roadmap. From State Proofs, which is a revolutionary security feature for the functional interoperability of blockchains, to increasing TPS, we are providing the tools needed for Web3-applications to realise their vast potential,” said Paul Rigl, Director of Product at Algorand.
The developers noted that Algorand has had no downtime since launch. The blockchain has become the backbone for thousands of projects in DeFi, NFTs, payments solutions, regulated digital assets and others.
Earlier in August, protocol update for Algorand simplified the creation of DeFi applications on it.
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