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Algorand Virtual Machine available in the last protocol update



AVM supports the writing of smart contracts in Python and Reach, with applications in Web 3.0, DeFi and NFTs

Open-source, permissionless blockchain Algorand announced yesterday the release of its latest protocol upgrade to make blockchain application development more accessible to a wider developer community and to improve the functionality of smart contract development.

Algorand's goal is to advance the future of finance (FutureFi) through its focus on performance, interoperability, and functionality. The blockchain's pure proof of stake consensus mechanism means that blocks are finalized within seconds and transaction throughput is as high as that of large payment networks. Earlier this year, Algorand even went into a carbon-negative blockchain.

The latest protocol update enables developers to create fast, powerful and inexpensive decentralized applications (Dapps) through the Algorand Virtual Machine (AVM). Use cases include Web 3.0, Decentralized Finance (DeFi), and Non-Fungible Tokens (NFTs) thanks to improved features for developers.

AVM makes it easy to develop smart contracts in accessible languages ​​such as Python and Reach - a simple programming language that uses a subset of JavaScript. In addition, the project is working on opening up the coding in Clarity, C, C ++, Go, Rust, Haskell, JavaScript and more. In addition to Turing-complete languages, the AVM supports new opcodes, larger program scopes and enables developers to use loops, functions, and recursion.

Paul Riegle, Chief Product Officer at Algorand, explains: “ Developers who have already written and used smart contracts on Algorand have interacted with previous versions of the AVM by using Teal and given us feedback that enabled us to develop the AVM iterate and improve quickly. We are excited to see what this version opens up for the developer community and look forward to further improvements in the coming months . "

Ethereum contracts can be more easily ported to Algorand after the upgrade, which enables more precise applications. The AVM also offers new functionalities such as atomic transfers that enable the sharing of transaction fees, the maximization of blockchain storage in versatile ways and the creation of an automated market maker (AMM) on which others can build.

Last month saw the launch of the Algorand mainnet for the second time, and more than 500 global organizations have since joined the ecosystem. The AVM could offer the opportunity to involve many other organizations in the new digital economy.

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