The Algorand blockchain has a diverse ecosystem of thriving projects working towards inclusivity and opportunity for the entire community. Algorand is basically about decentralization. The blockchain does not have computational hurdles or Elite clubs.
At Decipher 2022, ws.ford.algo, iCEO at Algorand: “Now there is going to be a greater rigor around how people have reviewed, what the work is that’s being done, the quality of the tech, the way things are being valued and thought through.
This is a great time as long as you have your house in order. And, so in particular with Algorand, I’m going to come back to what I said: “We’ve always worked brick-by-brick, built trust, and credibility. There have been no shortcuts. None.
And, so for us, I think as the ALGO fam, it’s about how do we on a day-to-day basis, not as the industry, not as Algorand, but as the whole group of individuals, businesses, Algorand Foundation, Algorand Inc., on a day-to-day basis treat each other and all our conversations with these principles.”
State Proof, often known as “Quantum Computing Proof,” establishes a new standard for interoperability. State Proofs on Algorand make it possible for the blockchain to digitally sign any given message that it is verifiable by everyone. This is the basic ability of a blockchain.
Silvio Micali, founder of Algorand, previously stated, “Interoperability between blockchains is the future, and Algorand State Proofs are a critical security feature for communication between networks. We are extremely proud of this innovation and believe it will push the entire blockchain landscape forward.”
“From State Proofs, which are a game-changing blockchain interoperability security feature, to increased TPS, we are unlocking the tools required for Web3 applications to fulfil their vast potential.”
Before the coming of decentralized apps, people had to trust centralized bridges or validator networks to handle their assets. State Proofs has enabled trustless cross-chain communication with an increase in performance from 1,200 to 6,000 transactions per second (TPS). There are tools to streamline development to introduce on-chain randomness capabilities for dApps. These features solidify Algorand as the leading Layer-1 blockchain for real-world Web3 applications, ranging from sports to music to CBDCs and DeFi.
Ever Since launch, Algorand has experienced zero downtime. It is already the blockchain of choice for thousands of organizations launching DeFi protocols, NFTs, payment solutions, regulated digital assets, and many more. The application on this network scales to billions of participants, all on a high-speed, carbon-negative, secure, and stable network.
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