Algorand Implements Dynamic Lambda Upgrade
The Algorand blockchain has implemented a protocol update called Dynamic Lambda, which has improved block creation by 20%. This update, also known as the “dynamic round times” update, has significantly reduced the average block time to below three seconds.
The Algorand Foundation, the team behind the Layer-1 blockchain, announced the upgrade on January 17. The update aims to enhance network performance, resulting in higher throughput and lower block times.
The team also introduced its roadmap for 2024, called The Algorand Gambit.
Block Creation Confirmed Below 3 Seconds
The speed-up in block creation has been verified by the analytics application Grafana, which shows that the block interval time has been around 2.9 seconds per block since the implementation of the Dynamic Lambda upgrade.
Before the upgrade, block creation on the Algorand blockchain took an average of 3.3 seconds, while Ethereum’s average block creation time is 12 seconds.
The dynamic round times introduced by the upgrade will offer flexibility to improve the efficiency and scalability of the Algorand network.
Dynamic Round Times Improving Network Performance
The Dynamic Lambda upgrade was voted into the network on January 10 and implemented on January 17. According to the Algorand team, the upgrade’s algorithm is designed to function dynamically, adjusting block finality based on factors like network congestion.
This dynamic approach will lead to decreased processing times, improved scalability, and faster confirmation speeds.
Algorand’s Roadmap For 2024
In addition to the Dynamic round times update, the Algorand Foundation has planned several other developments for the blockchain. One of these developments is the integration of the Python programming language through a comprehensive toolkit called AlgoKit 2.0.
The foundation also aims to transition a significant number of relays to non-archival status to increase network efficiency and reduce costs. Furthermore, there are plans for consensus incentivization and a transition to a P2P gossip network for increased decentralization.
Hot Take: Algorand Speeds Up Block Creation with Dynamic Lambda Upgrade
The implementation of the Dynamic Lambda upgrade on the Algorand blockchain has successfully reduced the block creation time by 20%. This protocol update, known as the “dynamic round times” update, has significantly accelerated block time, ensuring it remains below three seconds on average. The Algorand team has introduced this update to enhance network performance, resulting in higher throughput and lower block times. Moreover, Algorand’s roadmap for 2024 reveals its plans for integrating the Python programming language, transitioning relays, incentivizing consensus, and implementing a P2P gossip network. These developments aim to further improve the efficiency, scalability, and decentralization of the Algorand network.
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