Algorand Fast Upgrade Could Be A Game-Changer – Here’s How

Algorand (ALGO), has been celebrated for its creativity and ingenuity.

  • Algorand’s mainnet update can process as much as 6,000 TPS
  • When it comes to fast transactions, ALGO is faster than BTC or ETH
  • After the mainnet update announcement, ALGO’s price has risen 6.88%

And it’s now stepping up the game. Algorand recently impressed the community with an impressive upgrade to its system.

Algorand now claims to be quantum secure and can process up to 6,000 transactions per second. ALGO is familiar with this update, as the network has long been considered to be one of the most efficient in processing transactions.

In fact, Algorand’s mainnet can process a maximum of 1,000 transactions per second prior to this upgrade.

ALGO outperforms BTC/ETH in Transaction Speed

CELO and XRP are the closest to matching ALGO’s transaction speeds. It’s in fact one blockchain network that can beat both Bitcoin and Ethereum when it comes to transaction speeds. Albeit, this recent upgrade on ALGO’s mainnet could mean that other crypto networks may literally eat dust.

ALGO is fast and furious, but it also has the ability to fill in any gaps regarding third-party interference. This upgrade of the mainnet includes a state of-proof integration that allows users to create seamless cross-chain communication without the need for any intermediaries. It also prevents cyberattacks.

Rotem Hemo is one of the founding members of ALGO. In a Medium post, he mentioned that ALGO’s mainnet upgrade includes both a DApp update and an additional layer of AM7 to allow seamless developer access.

According to Hemo, “AVM 7 provides the ability to create randomness oracles that will enable every smart contract to get fresh randomness from a secure source when needed.”

Mainnet Update: Algorand Prices Up 6.8%

ALGO’s price appears to have risen favorably with the announcement of the mainnet upgrade. According to CoinMarketCapAlgorand is trading at $0.3194, up 6.88% since press time. Despite the price rise, ALGO still fell by 91.63% from its ATH.

Chart Santiment

On the other hand, ALGO’s trading volume has slipped by 9.06% but its market cap has soared and climbed to a whopping $2.08 billion.

Algorand appears to show a bearish correction in the coming days despite the rally. In fact, today’s trading session shows that the ALGO price has been slipping by a few percent.

Investors are hopeful that ALGO could reach the $3.56 area again after the mainnet upgrades. ALGO’s price has spiked by 4.8% following the latest news of its upgrade making Algorand five times faster and more efficient.

ALGO market capital at $2.2 Billion according to the daily chart. Source:| Source:

Featured Image from CoinCentral. Chart from

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