Algorand is set to bring a series of upgrades to users of the blockchain-based system that will focus on privacy, speed, and “co-chains.” The series of upgrades was confirmed by the founder of the blockchain-based platform, Silvio Micali during Australian Blockchain Week.
Learn more about the founder of Algorand
Algorand offers a number of upgrades and this was confirmed by Micali, a Massachusetts Institute of Technology professor who spoke to a crowd of 150 gathered in a coworking space at Sydney’s Central Station on Tuesday morning. according to a report. “We are assembling a great team and we already have plans,” Micali said.
The Algorand founder further added that the development team plans to “include a privacy layer and it will be first class…that’s why we developed it in conjunction with regulators.” However, he did not reveal any further details about it.
On the one hand, you want complete privacy; on the other side, you want to have an ironclad guarantee that nothing bad will happen under the privacy curtain.
The future of blockchain
Micali said he is a firm believer in privacy and plans to implement the same in Algorand. Moreover, he also predicted that the future of the blockchain industry will not include one mighty chain but a number of chains each with their own strength.
We don’t need thousands, but a good number of chains, because each of us is good or better than the others in certain things. And so we’re going to have multiple strings, and Algorand will be one of them.
Micali also noted that they also plan to improve the speed of Algorand and the next upgrade will increase network power and speed by 10 times and the next upgrade will also improve that.
We want to be able to handle not just today’s traffic, but tomorrow’s traffic, and later, all the days after tomorrow.
In another report, Kripteu Magazine noted that Miami City has partnered with PlanetWatch to build an air pollution monitoring network based on the Algorand network. It looks like the platform is here to make an impact.