{"id":21763,"date":"2023-06-22T16:13:23","date_gmt":"2023-06-22T16:13:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/algorand-algo-cuts-network-block-time-in-key-upgrade\/"},"modified":"2023-06-22T16:13:23","modified_gmt":"2023-06-22T16:13:23","slug":"algorand-algo-cuts-network-block-time-in-key-upgrade","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/algorand-algo-cuts-network-block-time-in-key-upgrade\/","title":{"rendered":"Algorand (ALGO) cuts network block time in key upgrade"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/09\/1663842521127-f0ef66d9-08b9-4004-bcc0-6247cc193958-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/09\/1663842521127-f0ef66d9-08b9-4004-bcc0-6247cc193958-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/09\/1663842521127-f0ef66d9-08b9-4004-bcc0-6247cc193958-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/09\/1663842521127-f0ef66d9-08b9-4004-bcc0-6247cc193958-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Algorand\u2019s latest protocol upgrade has cut block time from 3.8 seconds to 3.3 seconds.<\/li>\n<li>It is the PoS network\u2019s largest decrease in block time by percentage and comes as blockchains look to boost performance amid competition.<\/li>\n<li>ALGO, the native Algorand token, rose to near $0.13 before trading slightly lower on Thursday afternoon.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/algorand\/\">Algorand<\/a> has released a new upgrade that sees the protocol\u2019s block time significantly reduced and thereby boosting the network\u2019s performance.<\/p>\n<p dir=\"ltr\">The proof-of-stake network <a href=\"https:\/\/twitter.com\/Algorand\/status\/1671867287534534657\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> the new upgrade had gone live on mainnet on Thursday. It noted that network speed had improved by more than 10%, with a block time of 3.3 seconds unleashed to cut network speed from the previous 3.8 seconds. Its Algorand\u2019s largest block time reduction percentage-wise.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Major Protocol Upgrade unleashes 3.3 second transaction finality on <a href=\"https:\/\/twitter.com\/hashtag\/Algorand?src=hash&amp;ref_src=twsrc%5Etfw\">#Algorand<\/a> and incorporates key new features for streamlining application development \ud83d\udc49 <a href=\"https:\/\/t.co\/3LylJ7XWnt\">https:\/\/t.co\/3LylJ7XWnt<\/a> <a href=\"https:\/\/t.co\/v64yrnmI17\">pic.twitter.com\/v64yrnmI17<\/a><\/p>\n<p>\u2014 Algorand (@Algorand) <a href=\"https:\/\/twitter.com\/Algorand\/status\/1671867287534534657?ref_src=twsrc%5Etfw\">June 22, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Notably, Algorand maintains its instant transaction finality, the protocol upgrade announcement noted. Today\u2019s upgrade makes application development on the PoS network faster and cost-efficient.<\/p>\n<p dir=\"ltr\">The native token ALGO rose nearly 5% following the news to trade near $0.13. However, it traded around $0.125 at the time of writing, about 1.5% higher in the past 24 hours.<\/p>\n<h2 dir=\"ltr\">Cardano and BNB Chain also introduced upgrades<\/h2>\n<p dir=\"ltr\">Algorand\u2019s block time reduction comes amid similar upgrades across the ecosystem as blockchains look to tap into the growing developer ecosystem.<\/p>\n<p dir=\"ltr\">Early this week, <a href=\"https:\/\/coinjournal.net\/news\/tag\/cardano\/\">Cardano<\/a> introduced upgrade 8.1.1 that aimed at speeding up network processes during epoch transitions for better performance. BNB Chain\u2019s Luban hard fork, introduced last month, also sought to improve network speed and security.<\/p>\n<p dir=\"ltr\">For Algorand, the latest upgrade introduced other enhancements such as Simulate, a tool that allows developers to simulate smart contracts and test for bugs and other issues before deploying on the mainnet. Another tool is Conduit, which allows for flexible and affordable access to data.<\/p>\n<p dir=\"ltr\">\u201c<em>We are hyper focused on Algorand providing the best tech for developers to engage with and end users to experience<\/em>,\u201d Paul Riegle, Chief Product Officer at Algorand, said.\u00a0<\/p>\n<p dir=\"ltr\">According to him, the new capabilities means developers can quickly build and deploy higher quality dApps to the market, leveraging faster, efficient testing and customised data sets.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/algorand-boosts-network-speed-with-key-protocol-upgrade\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Algorand\u2019s latest protocol upgrade has cut block time from 3.8 seconds to 3.3 seconds. It is the PoS network\u2019s largest decrease in block time by percentage and comes as blockchains look to boost performance amid competition. ALGO, the native Algorand token, rose to [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21763"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21763"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21764"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}