Algorand introduces a virtual machine to increase the capabilities of smart contracts

The blockchain platform Algorand gave the start of today. known Algorand Virtual Machine (AVM), a Layer 1 protocol update that was designed to Improvement of the decentralized scalability of applications for developers and organizations, enable the purpose of instant transactions and provide a negative carbon outflow.

Besides these advances AVM will also make program tools available to developers to write smart contracts in Python or Reach. a format similar to the language Javascript from multiple paradigm websites.

Two weeks ago, Algorand presented its highly anticipated smart contract architecture with the implementation of Plutus-based scripts on the Alonzo hard fork. This was a notable advance on Algorand’s ambitious roadmap, though Algorand cautiously stressed that expectations should be reasonable, and despite the public launch more than two years ago, the platform still believes these are “the first days of the project”.

Algorand introduces a virtual machine to increase the capabilities of smart contracts
Algorand introduces a virtual machine to increase the capabilities of smart contracts

Despite the anticipation of the expected higher profit, The data from the Vercel app shows that only 27 smart contracts have been implemented â ???? â ???? from Plutus at the time of writing.

Owen Colegrove of Algofi, a decentralized banking platform based on Algorand, specified:

â ???? AVM, coupled with Algorand’s existing high performance, allows for scaling to a whole new level, and it’s incredibly easy to iterate, tweak and improve our product quickly, first with the log of credits and then with further defi- Banking services. “

Earlier this month, the Algorand Foundation launched a $ 150 million fund that will focus on maintaining the decentralized financial platform ecosystem and promoting the growth of synthetic applications and the NFT platform, among other things.

Data from Cointelegraph Markets and TradingView show that the native token of Algorand (SOMETHING) It has a current price of $ 2.13. The current fund is currently valued at just under 320 million US dollars.

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