Home CryptocurrencyAltcoin Algorand reduces blocking times by 20% after Dynamic Lambda update

Algorand reduces blocking times by 20% after Dynamic Lambda update

by SuperiorInvest

Block creation times on the Algorand Layer 1 blockchain have been reduced by approximately 20% following a recently implemented protocol update, with average block times now under three seconds.

In a January 17

Grafana block time data shows that the average block interval time dropped below three seconds and has hovered around 2.9 seconds per block since the update. In comparison, Ethereum block times average around 12 seconds.

The average hourly block time (UTC) dropped below three seconds after the update. Source: Grafana

Before the update, blocks were created at an average rate of around 3.3 seconds.

Algorand (ALGO), the blockchain coin of the same name, is trading at $0.189 and is down nearly 4.5% over the past 24 hours and 3.7% over the past month, according to data from Cointelegraph Markets Pro.

A 24-hour ALGO price chart shows a price drop of more than 4%. Source: CT Markets Pro

Algorand described dynamic lambda, first voted on on January 10, as an algorithm that adjusts block finality “based on network congestion and other factors,” which it claims will allow for a drop in average times, better scalability and faster confirmations.

“Think of it like this: You’re at a bus stop, and instead of following a rigid schedule, the bus adjusts its departure time based on the number of passengers waiting,” he explained.

Related: Hedera and Algorand Partner to Develop Decentralized Wallet Recovery System

It also shared its chess-themed roadmap for this year, showing plans to support the Python programming language, transition to using more fileless relay nodes, upgrade its consensus mechanism, and move to a chess gossip network. peer to peer similar to Bitcoin.

Algorand was originally launched to dispel the “blockchain trilemma” claim, which says that a blockchain is limited to choosing two of three approaches: security, scalability, or decentralization.

The blockchain hosts hundreds of projects, including global soccer body FIFA’s non-fungible token (NFT) marketplace and a digital banking and insurance marketplace platform based in Italy.

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