The Algorand mainnet upgrade was recently announced by the founders of the blockchain. This announcement spiked more trading activities on the blockchain. The mainnet upgrade is set to change the narrative and bring innovations into the space.

Information On The Algorand Mainnet Upgrade

Before now, Algorand had topped the crypto space regarding transaction speed, security, and zero-no gas fees. This blockchain will undergo an upgrade soon, as was announced by the founders. This mainnet upgrade would increase the transaction speed to 6000TPS. 

This protocol upgrade provides a wide range of decentralized applications (Dapps) hosted on the Algorand platform. This building of Dapps will not interfere with the blockchain’s performance, as explained.

Some features that have been improved and added were highlighted. These features would help improve the blockchain’s functionality, making it more secure, scalable, and faster.

  • An improved feature that involves tokenization, protecting data attached to a token.
  • A feature that provides a fast and secure means of carrying out asset transactions.
  • Improved smart contracts that guide how asset transfers are made.

These are mainly the features for the upgrade. The founders disclosed that the Algorand 2.0 would be launched in less than two months, providing more features for DeFi movements. For now, this mainnet upgrade would improve activities pending the launch of Algorand 2.0.

The State Of The Algorand Market

The market trend on the Algorand network picked up, having many greens in the chart. There have been a lot of buys than sells in the market in the space of seven days.

The live Algorand price is $0.3211, picking up a 1.01% increase from the previous day. The trading volume of Algorand in the past 24hrs has seen a 9.11% drop and down to $92,002,689.

Algorand attained its all-time high three years ago with a price of $3.28 during its launch. However, there has been a 90.21% fall from glory as the token dipped.

There has been an increase in trading, and it has gotten bullish reactions from investors. This blockchain uses Proof of Stake, which gives it an edge over Bitcoin and Ethereum. Reports show that Algorand processes transactions five times faster than BTC and ETH.

Investors have spelled out how bullish they are on Algorand, expecting it to reach the top soon. Others praised the network, saying it has the best fundamentals right now, with a near-zero gas fee.

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