Steve Kokinos, CEO of Algorand Inc., about the recent upgrade previously stated, “At Algorand, we’re committed to continuous innovation and the development of technology that solves real-world challenges. With this release, new features and simple developer resources enable new use cases and broader adoption of blockchain overall.” He further stated, “Building decentralized financial applications require the right foundational technology and vision.”
Algorand 2.0 provides for new use cases like Asset Tokenization, third party asset issuance, making access to investments easy for all, and cross border transactions without intermediaries. The unique functionality of the 2.0 is related to Role-Based Asset Control (RBAC). The asset controls are flexible for issuers and managers in terms of business, compliance, and other regulatory requirements.
Further, Algorand 2.0 provides user protection against assets with tax legal and reputational risk. When such assets have risk-related implications, the asset spam protection feature will prompt users to opt-in before they accept such risky asset types.
The assets issued on Algorand have universal inter-operability.
Algorand 2.0 solves several challenges involved in asset tokenization in terms of fungible tokens, non-fungible tokens, restricted fungible tokens, and restricted non-fungible tokens. The asset types in fungible tokens are in-game points, stable coins, loyalty points, system credits, and cryptocurrencies. The asset types in non-fungible tokens are in-game items, supply chain, real estate, certifications, and collectibles.
Asset types under restricted fungible tokens are securities; government issued fiat and certifications. Restricted non-fungible tokens are real estate, ownership registries, and regulatory certifications.
The recent upgrade provides for simplified usage, transaction finality, and core security on a high-performance blockchain.
A new wave of Distributed App development occurs with the evolutionary upgrade of Algorand with Algorand 2.0. The ASA’s transaction fees are low as it is minuscule. The asset issuance process is easy and straightforward for developers and enterprises.
The global base of Algorand partners is diverse. The companies representing the technology of Algorand include but are not limited to USV, Pillar, Applied Crypto, Lvna, Bixin Capital, Continue Capital, and Brain Child. The list of Algo partners is extensive, including MetaStable, Multicoin Capital, POLYBIUS capital, QCP Capital, Spark Pool, and Wing. Several strategic alliances are in the pipeline, and the ecosystem is growing towards 2020. Algo is currently trending in the price ranges of $0.23.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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