The Algorand network has been updated to increase the blockchain throughput from 1200 to 6000 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 update includes a solution State Proofs. Thanks to this tool, the platform has the interoperability of blockchains with the outside world without intermediaries.
“Decentralization should not come at the expense of performance or security. Interaction between blockchains is the future, and State Proofs is a critical security feature for communication between networks,” said Algorand founder Silvio Micali.
The developers also recalled that the performance of the Visa network is 1500-2000 TPS, the Bitcoin blockchain can process about five transactions per second, and Ethereum – up to ten.
“This update marks an important milestone in the Algorand roadmap. From State Proofs, which is a revolutionary security feature of blockchain interoperability, to increasing TPS, we provide the tools you need to Web3-applications to realize their enormous potential,” added Algorand Product Director Paul Riegl.
The developers also stressed that Algorand has had no downtime since launch. Blockchain has become the basis for “thousands” of projects in the fields of DeFi, NFT, payment solutions, regulated digital assets and others.
Remember, in August protocol update Algorand has made it easy to create DeFi applications on it.
