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Author: Ronaldo Marquez

Algorand Delivers Lightning-Fast Transaction Finality With Major Protocol Upgrade

Algorand (ALGO), the next-generation blockchain platform, has announced a major protocol upgrade that unleashes key new features for streamlining application development. The protocol upgrade, now live on Mainnet, reduces block time to roughly 3.3 seconds while maintaining instant transaction finality. This represents a more than 10 percent increase in speed and reinforces Algorand’s position as a leading blockchain platform. Related Reading: Shiba Inu Becomes 14th Largest Cryptocurrency As Bull Rally Heats Up Algorand’s Latest Protocol Upgrade Sets New Standards Algorand’s ability to instantly finalize transactions and other performance enhancements empowers Algorand-based applications to deliver a user experience comparable to traditional Web2 applications while leveraging the security and decentralization inherent in blockchain technology. The latest technical release incorporates valuable feedback from the developer community to ensure application development is faster, more accessible, and more cost-efficient. Some of the latest products and enhancements available to builders on Algorand include Simulate, a powerful simulator for smart contracts that allows developers to rigorously test, identify, and rectify any issues before deploying to Mainnet. Simulate also enables highly versatile reading of blockchain data, offering developers a clear and customizable view of the blockchain. The latest features for developers include group resource sharing for application calls, devmode timestamp control for testing Decentralized Applications (dApps), and new Algod endpoints for transaction group state updates. Conduit is another tool for flexible and lightweight data access. This technology enables developers to run their data solutions, accessing their specific data needs in a simple, flexible, and affordable manner. With these new capabilities, builders can get higher quality dApps to market faster through customized data sets and faster and more efficient testing. In a statement, Paul Riegle, Chief Product Officer at Algorand, claimed: We are hyper-focused on Algorand providing the best tech for developers to engage with and end-users to experience. Through these new capabilities, builders can get higher quality dApps to market faster through customized data sets and faster and more efficient testing. Overall, the major protocol upgrade from Algorand represents an important step forward for the blockchain platform, offering faster transaction finality and key new features for streamlined application development. With these new capabilities, Algorand is well-positioned to continue leading the way in the blockchain space and providing developers with the tools they need to build the next generation of decentralized applications. Algorand Upgrade Sparks Bull Run Hopes For ALGO According to the crypto investor and trader Zach Humphries, Layer 1 blockchains fiercely compete to attract developers and users to their ecosystems. Algorand has emerged as a strong contender with its latest protocol upgrade. This upgrade has significantly improved the platform’s speed and efficiency, making it an attractive option for developers seeking a blockchain platform that can handle high traffic volumes. Compared to Ethereum, which dominates the market, Algorand’s speed and transaction costs are significantly better. Ethereum has been plagued by network congestion and high transaction fees, making it difficult for users and developers to take full advantage of the platform. Algorand’s new protocol upgrade addresses these issues by reducing block time and making transactions faster and cheaper, thus providing a better user experience. Related Reading: Expert Analysis: IMF Documents And XC Platform Raise Concerns For XRP The positive news surrounding Algorand’s protocol upgrade has also had a bullish impact on the price of its native token, ALGO. While the token has experienced a significant downturn since reaching its annual high of $0.29858 in February, it has surged by 16% in the last seven days, reaching a current trading price of $0.12670. Despite the recent gains, ALGO still faces a resistance wall at $0.1520, which it needs to breach to continue its upward trend. If the token can overcome this resistance line, it could reach the $0.1751 and $0.20 price levels, which were lost during its downtrend. Featured image from Unsplash, chart from TradingView.com

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Why LimeWire Chose Algorand For Its Comeback

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Mar 15, 2022 12:15

Why LimeWire Chose Algorand For Its Comeback

Popular peer-to-peer file sharing service LimeWire will make a comeback on the blockchain. Per a press release, the platform will relaunch as a non-fungible token (NFT) marketplace running on Algorand. Related Reading | Algorand Blockchain Has Grown 35% In Q1 2022 LimeWire has selected this network, the release claims, due to Algorand’s alleged energy consumption levels which make them the blockchain “of choice for energy efficient NFT marketplaces”. The network will provide with a scalable platform with low-cost transactions, and an Ethereum-Polygon bridge. As LimeWire previously reported, the platform will support its marketplace with its own native token called LMWR. In addition to the capacity to transact with LimeWire NFTs, user will allegedly have access to “exclusive community”, voting rights, and access to a reward system. The platform will let content creators, initially musicians, to launch digital assets so fans can buy, sell, and trade them without the “technical hurdles” of alternatives. In that way, LimeWire attempts to onboard users by offering them a unique experience, and access to unique items, from their favorite artists. The press release claims: Music fans and collectors will be able to buy and trade a variety of music-related assets, such as limited editions, pre-release music, unreleased demos, graphical artwork, exclusive live versions, as well as digital merchandise and backstage content. The platform will place a special focus on users without technical expertise or those people unfamiliar with cryptocurrencies and digital assets. Thus, the “newbies” or “noobs” will be the main target audience for this re-brand. The new LimeWire platform will let users trade by completing an “easy” registration process with “seamless KYC”. As a bonus, items will be priced in U.S. dollars, and users won’t be obligated to set up a crypto wallet from the get-go. In order to complete that objective, users will be able to purchase the digital assets with their credit cards, via bank transfer, and with other traditional payment methods. LimeWire claims to have consolidate a partnership with Wyre to provide this services. LimeWire Calls On “Noobs” To Leverage Crypto The new LimeWire, according to the release, will be a hybrid platform. Created to combine the best aspect of Web2 platforms with the potential and benefits from Web3. Paul Zehetmayr, LimeWire Co-CEO, said the following on the recent announcement: The biggest challenge with digital collectibles and the broader crypto market in general is that it’s really limited to a small group of savvy users. There are big players on the market already, but the entry barrier is still too big to allow for mainstream adoption. In addition to the traditional payment methods, users will be able to use different cryptocurrencies to purchase digital assets. Algorand CEO, Steven Kokinos said: We are excited to see LimeWire launching on the Algorand blockchain and see massive potential for them to take the music collectibles market by storm. The interest for digital collectibles will only be growing and we are eager to support a global brand like LimeWire entering into the space to help open up the market to the mainstream. The new LimeWire marketplace will be launch in May 2022, according to the press release. The platform promises a “lineup of big names” for its market debut. Related Reading | Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10% At the time of writing, ALGO’s price trades at $0.68 with a 2% loss in the past 24-hours.

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Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Feb 11, 2022 12:10

Algorand Foundation Names Former JP Morgan Executive as CEO, ALGO Soars 10%

Today, the Algorand Foundation announced the appointment of Staci Warden as their CEO. On the board of the foundation since September 2021, according to a press release, Warden will take on the responsibilities as its leader. Related Reading | Bitcoin Steadies Above $45k, US Inflation Comes In At 7.5% Year Over Year The Algorand Foundation will nurture from Warden vast experience. Before joining the organization, she ran the Global Market Development practice at the Milken Institute, a nonprofit think tank created with the objective of aiding people at “building meaningful lives”. At the Milken Institute, Warden led the nonprofit’s work on capital market development, innovative finance with sustainable development goals, and crypto and blockchain solutions, according to the release. Its subsequent participation in the Algorand ecosystem seems like a logical step. This network aims at becoming the hub for the “future of finance” running on its Proof-of-Stake (PoS) blockchain by merging decentralize and traditional finances. Designed with a non-carbon emission approach, with low-cost and a scalable network, Warden has acknowledged its potential. According to Kieron Guilfoyle, the Foundation’s Board Chairman: Staci understands the potential for Algorand to become a dominant Layer One blockchain, and she has the experience and expertise to drive our global efforts to scale and to deliver outstanding value to our community. I know she will waste no time in shifting the Algorand Foundation into its expansion phase. In addition to her experience at the Milken Institute, Warden ran JP Morgan’s Europe, the Middle East and Africa (EMEA) practices. She also led the Nasdaq’s two market for microcap companies and held senior positions in the public and nonprofit sector at the U.S. Treasury Department, according to the release. Furthermore, Warden worked for the Center for Global Development, and the Harvard Institute for International Development. The new member at the Foundation has experienced doing business in over 50 countries with a vast knowledge of the use cases and potential for crypto to aid people and mitigate real world issues. The Algorand Foundation, And How Crypto Can Help The World The Foundation believes the current year will be “key” in the development of ALGO network. In 2022, they expect the DeFi sector, Non-Fungible Tokens (NFTs), to continue to gain relevance and increase their adoption rates. In that sense, the Foundation has set out to make the network a core “building block” for the digital economy of the future. Warded stated the following on her new role: 1.7 billion people in the world do not have access to finance, and the Algorand protocol has the speed, the security, and the decentralization to address the problem of global financial inclusion at scale. By both ratcheting up our global ambitions as well as doubling down on our commitment to the DeFi ecosystem, I know that we will deliver tremendous value for both the Algorand ecosystem as a whole and the end-users it supports. Related Reading | Algorand, Solana, And More Lead List Of Biggest Losing Altcoins As of press time, ALGO trades at $1,01 and has seen an almost 10% profit in the last week as the crypto market continues to trend to the upside. As the year enter the end of its first quarter, it’ll be interested to see if ALGO and the market in general will be able to sustain their bullish momentum.

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Algorand (ALGO) Price Turns Positive, Bulls Eyeing Further Gains?

Author: Eli Dambel

United Kingdom

Source: NewsBTC

May 17, 2023 12:05

Algorand (ALGO) Price Turns Positive, Bulls Eyeing Further Gains?

Algorand (ALGO) has recovered from the bearish trend seen at the end of February 2023. From February 21 till May 8, ALGO recorded a loss of 45.13%, dropping to a low of $1.592. Despite the crash, buyers still pushed up the price of ALGO by more than 6% in the past few days. Traders are optimistic and are eyeing the next move in the current trend, while the bears are slowing building momentum by holding their strong short position. Will The Bulls Maintain This Current Bullish Momentum? The sustainability of ALGO’s current price trend relies on several factors. Market conditions, such as supply and demand dynamics, overall economic factors, and external events, can generally influence the price. However, the current market sentiment is bullish, while the Fear & Greed Index is 45, indicating neutral. This means the market’s state is stable, and the volatility is not high. Within the last 24 hours, Algo’s general market cap gained 1.57%, rising to over $1 billion. The 24-hour trading volume surged by 15% overnight, rising to about $33 million. Related Reading: US Banking Crisis Worsens With Half Of America’s Banks On the Verge Of Failure Notably, at the time of writing, the ALGO token is trading at $0.1683 as bulls continue to have a good day with gains of 2.50%. However, the recent increase in ALGO’s general market suggests increased demand for the asset. As more investors and traders buy the asset, the increased buying pressure can lead to a rise in its price. The increase in trading volume suggests improved liquidity for the asset, which tend to attract more investor to the market. ALGO Technical Analysis The price is below the 200-Day and 50-Day Simple Moving Averages (SMA). This suggests that ALGO market sentiment is still bearish; the selling momentum is stronger than the bull’s buying momentum. However, the asset might rebound if the bulls increase their momentum, as green candles are showing today in the chart. The Relative Strength Index oscillator is showing 40.18. This means the asset is currently at neutral levels; the pressure from bulls and bears is normal. Related Reading: Crypto Firms Should Ditch Banks To De-risk From Volatile Systems, Says Cardano Founder Also, MACD is currently above the signal indicating a potential uptrend. The histogram confirms the bullish sentiment as its showing green candles and also above zero. ALGO trades between its primary support and resistance levels of $0.1587 and $0.1853, respectively. The next key zones are the support level – $0.0992 and the resistance level – $0.2427. Recent Development In The Algorand Ecosystem Alogrand recently introduced a new plugin-based tool for enhancing Blockchain Data Access named Conduit. Conduit aims at providing improved access to blockchain data. It is an upgrade to the conventional one-size-fits-all Indexer, designed as a modular plugin-based tool. This plugin empowers decentralized applications (DApps) by offering precise and tailored data retrieval capabilities, all while maintaining cost-effective deployment options. Such developments on the network could increase adoption and utility and, in time, boost ALGO’s price. Featured image from Pixabay and chart from Tradingview.com

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