CoinDesk reported that Algorand upgraded its protocol on Thursday, reducing block time from 3.8 seconds to 3.3 seconds, making application development faster and more cost-efficient. This marks the largest reduction in block time percentage-wise, according to Algorand Chief Product Officer Paul Riegle. Other improvements include a simulator for testing code before mainnet deployment and a new plugin framework for creating customizable data. Algorand's native cryptocurrency, ALGO, has risen 4.9% in the past 24 hours. The upgrade reflects feedback from the developer community as Algorand's mainnet nears 30 million blocks and its four-year anniversary.
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