$ 20,150.00
$ 1,134.12
$ 1.00
$ 0.456446
$ 0.323407
$ 1.00

Algorand Aims to Extend Smart Contract Capabilities With the Launch of Their Virtual Machine

Algorand Aims to Extend Smart Contract Capabilities With the Launch of Their Virtual Machine

Earlier today, Algorand launched their Algorand Virtual Machine (AVM) after announcing it some time ago. The AVM is a layer-1 protocol upgrade that improves Decentralized Application (DApp) scalability for users, developers, and various organizations. Through the AVM, Algorand aims to enable and maintain a negative carbon output and instant transaction finality.

With the introduction of the AVM, Avalanche stated that developers can now deploy smart contracts using Python or Reach. This smart contract architecture was firstly showcased by Algorand two weeks ago as they implemented scripts powered by Plutus in the Alonzo hard fork.

Although this update was much anticipated, Algorand said that people should not expect much since they are still experimenting. Even though more than 2 years have passed since Algorand first went live, its founders still consider the project to be early on development.

The Co-Founder of Algofi, a decentralized banking provider on Algorand, made comments regarding the update. Among many things, Owen Colegrove stated:

“AVM, coupled with Algorand’s existing high performance, enables scale at an entirely new level. Additionally, it’s incredibly easy to quickly iterate, streamline and improve our product, first with the lending protocol and later on with more DeFi banking services.”

In early September, a $150 million fund for aiding the building of the DeFi ecosystem was launched by the Algorand Foundation. Among other fields that it aims to influence, this fund is primarily focused on encouraging the growth of Non-Fungible Token (NFT) platforms and other applications.  At the time of writing, this fund stands just above the value of $320 million.

Also Read: Algorand Price Prediction 2021 and Beyond – Is ALGO a Good Investment? 

Also read:

Related News

LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »
The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »
The price may perhaps clear the $1,200 obstacle above the next significant resistance, which is located close to the $1,180 zone.

New Surge in Sight As Ethereum (ETH) Gathers Momentum

Following a period of stability at $1,000 versus the US Dollar, Ethereum (ETH) enters a new uptrend. Above the $1,150 barrier level, Ethereum (ETH) can move much higher. Near the $1,070 region, the pricing was able to overcome a few significant obstacles. Even the 61.8 percent Fib retracement level of the significant decline from the swing high of $1,235 to the low of $997 was tested by the price. The

Read More »

My Coins

$ 20,150.003.13%
$ 1,134.123.92%
$ 0.4564461.61%
$ 1.000.09%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: