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Algorand released a new update (3.16.0-beta), which propelled it into the realm of high-speed transactions, surpassing the combined speed of many leading Tier 1 blockchains. Contrary to common practice, Algorand adheres to the principle of neutrality, treating all transactions equally, whether simple Algo transfers or complex smart contracts.
This release, which required a protocol upgrade, contains many improvements, including a cycle time reduction of approximately 0.4 seconds and many developer-friendly features. A significant change in this update is the requirement that assets or applications within a contract have an ID greater than 256, which eliminates opcode ambiguity.
The implementation of the update resulted in a double protocol update, namely Consensus v37 and v38. Although no action is required from node workers, this dual update expands support for State Proof-related options.
Algorand’s success is a testament to its commitment to making blockchain development easy and accessible. It continues to support the developer experience, whether experienced or new, by making blockchain development more accessible.
Algorand’s latest update is more than just an improvement; this is a revolutionary step in the blockchain industry. With its unwavering commitment to speed, simplicity and transaction neutrality Algorand is truly shaping the future of blockchain technology .
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