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- Earlier this month, Algorand underwent an upgrade that made its layer 1 protocol one of the fastest in crypto.
On 12th September, two officials of the Algorand network posted on Twitter about bringing the decentralized Wi-Fi network to their blockchain in place of Solana.
Silvio Micali, founder, and John Alan Wood, Chief Technology Officer(CTO), do not show their keen interest in Solana by saying that Helium “needs a secure,robust and scalable Chain.”
The Algorand-focused venture firm, Borderless Capital, and some important Helium investors appreciated that Helium reconsider its prospective new home. It called for the community to scrap its offered vote on moving to Solana and “evaluate proposals from other leading level 1 blockchains first.”
The supporting Algorand calls come two weeks after Helium ecosystem creators first presented a vote to shift to Solana in the name of scalability and network efficiency, quitting its Unstable chain.
Borderless capital highlighted on its Twitter handle, stating, “We agree that Helium can not maintain and operate its own [layer 1] chain.” further adding more, he said, “But, it is impossible for the community, third-party developers, staking providers and users to understand the pros and cons of moving to a [chain] like Solana without more rigorous analysis and transparency.”
Earlier this month, Algorand underwent an upgrade that made its layer 1 protocol one of the fastest in crypto. The upgrades in the Algorand network were followed by Proof of stake, which will ultimately increase the capacity of the transaction on the mainnet of Algorand.
The upgrade process has increased the transaction capacity to 6,000 transactions per second. The blockchain of Algorand has added features of cross-chain communication and transaction speed improvement with the recent upgrade to their protocol.
As per data from CoinMarketCap, while writing this article native token of Algorand (ALGO) is trading at $0.3171 with a total market cap of $2,194,305,071.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
