Algorand is updated – and these are very important steps forward for the protocol, which must also be discussed in order to understand what the financial path of this protocol could be.
Very interesting news also for those who look at the technical side of the sector, with Algorand continuing to develop and deepen functionalities and operating systems, in what would seem to be an attempt to assault the DeFi and Decentralization sector.
Algorand analysis – here’s what’s interesting
Algorand announces important news – our analysis
A good time to invest in $ ALGO? Updates of this type also develop their financial effects in the medium and long term
Algorand is updated: here are the most important news
In the decentralized finance sector, there is a relentless battle also as regards the technological evolutions of each protocol. Algorand has always tried to make the difference, starting with its consensus mechanism – and more recently also with regards to technical functionality.
All the innovations introduced with the latest update have been duly discussed on the official website of the group and here we will take care of offering a recap for those who are curious to know what is happening in Italian.
20 million program to develop tools and EVM compatibility
Algorand also integrates these innovations into the bed of what would have been produced with the fund launched last February, which puts on the table a total of 20 million dollars to develop compatibility with Ethereum’s EVM.
Smart contract and call contract compatibility
An advanced feature that will allow the development of decentralized apps, even complex ones, always taking efficiency and safety as a basis, even while interacting with other dapps or other contracts.
Falcon Keys post-quantum
Another step forward, as disseminated by Algorand, for interoperability between different chains that is nevertheless safe. With these keys it will be possible to generate State Proofs in the future, with the aim of making the Algorand network accessible even by low energy consumption devices.
What can these innovations guarantee in financial terms?
The news that Algorand has announced will have very important implications for the protocol also in terms of usability. And the amount of users and transactions that a chain of this type hosts is certainly more relevant than the other factors, when it comes to determining any future bullish paths.
Recall that Algorand also can already boast important collaborations on the government and public front, and that the natural destination of the protocol will be that of finance and decentralized trading, sectors that in our opinion still have a lot to express in terms of growth.
In our view, these steps forward in the protocol can only be bullish, although with the need to have a sufficiently broad time perspective, which allows us to evaluate how much these innovations will make Algorand stronger, in a very competitive sector.