CoinDesk reported that Algorand's latest update, "Algorand 2.0," introduces smart contracts and decentralized finance (DeFi) features to its proof-of-stake blockchain. This is the largest upgrade since its launch in June 2019. The new smart contracts, called Algorand Smart Contracts (ASC), utilize a non-Turing-complete programming language, Transaction Execution Approval Language (TEAL), which enhances security by simplifying code and reducing attack surfaces. Other features include the standard asset issuance (ASA) for tokenization and Atomic Transfers for complex token transactions. These enhancements aim to broaden blockchain adoption and use cases. Algorand maintains its sharia compliance certification with this upgrade.
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