Algorand, the Carbon Negative blockchain created by Silvio Micali, an Italian Professor at MIT, has recently announced an update that is capturing attention. The blockchain is now capable of offering a reduced block time of just 3.3 seconds, significantly improving the efficiency of the system compared to the previous 3.8 seconds. This innovation promises to revolutionize not only the speed of transactions on Algorand but also its scalability and the price of its reference cryptocurrency, ALGO.
The announced update represents perhaps the most significant step in the history of Algorand. In addition to offering a reduced block time, it promises to bring significant improvements in terms of scalability as well. Algorand will be able to handle an increasing number of simultaneous transactions, allowing a growing number of users to utilize the system without compromising its performance.
Furthermore, the update introduces new endpoints for Algod, the application programming interface of Algorand, such as the ability for developers to control the timestamp and enhanced group transaction verification, with the ability to easily verify state updates for each transaction ID. These features enable more accurate validation of transaction information and more effective testing of dApps. This contributes to strengthening the security and integrity of transactions on Algorand, increasing user confidence in the system. Finally, they offer programmers greater control and flexibility in application development, paving the way for new solutions and opportunities for innovation.
Blockchain Italia: Official Partner of Algorand
In this context of growth and innovation, Blockchain Italia has emerged as an official partner of Algorand. The company has long been committed to the adoption and promotion of Algorand’s blockchain technology in the Italian landscape, contributing to the dissemination of its potential in the sector. This demonstrates Blockchain Italia’s commitment to providing users and businesses with access to Algorand through the development of cutting-edge solutions.
About Blockchain Italia Srl
Blockchain Italia is a leading company in Italy in the fintech and blockchain sectors. Its objective is to optimize digital processes through innovative protocols to improve efficiency. Thanks to its high specialization and tangible results, Blockchain Italia has developed various solutions for Italian and international clients, launching a multitude of products on the market for tokenization, payment systems, and notarization, such as Dedit.io, a notarization platform that won the “Top of the PID” award in 2020 and the MF Innovation Award in 2023, together with BNL. It is also the owner of the Blockchain Forum Italia format, an annual event that has been bringing together professionals and companies from the blockchain and fintech world since 2018, offering a unique opportunity for networking and in-depth exploration, and contributing to the growth and knowledge of the sector.