Algorand Protocol Upgrade Increases Performance 5x, Enhances Security
Algorand announced a new upgrade rolling out proof of state, which can increase transactions per second (TPS) from 1200 to 6000, and secure cross-chain communications.
A new protocol upgrade by proof-of-stake Layer 1 Algorand may increase its transaction throughput (TPS) and cross-chain communication security through state proofs.
State proofs for Algorand are an interoperability standard designed to safely link Algorand to other blockchains and increase TPS. State proofs offer a platform for cross-chain communication and transactions that may be used by any proof of stake blockchain.
This update brings the network TPS up to 6,000 from 1,200.
While a rise in TPS might be a good improvement, more information is required to fully grasp the effects it would have on users and protocols.
TPS is a metric for speed and is unrelated to finality, which is the point at which a blockchain transaction has been processed and is considered complete. Finality is crucial for security because it ensures that the transaction cannot be undone, hence it must be taken into account while evaluating TPS in blockchains.
Algorand’s Chief Product Officer Paul Reigle believes that state proofs are “game-changing” for secure blockchain interoperability.
This platform’s founder Silvio Micali seconded this, highlighting its importance that “decentralization does not need to come at the cost of performance or security”, and his belief that state proofs are a “critical security feature for communication between networks”.
Given the recent spate of attacks, cross-chain messaging and transaction security is now more crucial than ever.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Blockchain
Algorand Protocol Upgrade Increases Performance 5x, Enhances Security
Algorand announced a new upgrade rolling out proof of state, which can increase transactions per second (TPS) from 1200 to 6000, and secure cross-chain communications.
A new protocol upgrade by proof-of-stake Layer 1 Algorand may increase its transaction throughput (TPS) and cross-chain communication security through state proofs.
State proofs for Algorand are an interoperability standard designed to safely link Algorand to other blockchains and increase TPS. State proofs offer a platform for cross-chain communication and transactions that may be used by any proof of stake blockchain.
This update brings the network TPS up to 6,000 from 1,200.
While a rise in TPS might be a good improvement, more information is required to fully grasp the effects it would have on users and protocols.
TPS is a metric for speed and is unrelated to finality, which is the point at which a blockchain transaction has been processed and is considered complete. Finality is crucial for security because it ensures that the transaction cannot be undone, hence it must be taken into account while evaluating TPS in blockchains.
Algorand’s Chief Product Officer Paul Reigle believes that state proofs are “game-changing” for secure blockchain interoperability.
This platform’s founder Silvio Micali seconded this, highlighting its importance that “decentralization does not need to come at the cost of performance or security”, and his belief that state proofs are a “critical security feature for communication between networks”.
Given the recent spate of attacks, cross-chain messaging and transaction security is now more crucial than ever.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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