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Algorand’s new features will improve speed and privacy, according to the company’s founder

Algorand’s founder and MIT professor Silvio Micali stated at Blockchain Week Australia on Tuesday that the company is preparing a series of updates to improve the network’s privacy and speed, as well as establishing permissioned co-chains with a trustless decentralized bridge across chains.

Algorand is working with regulators to develop a layer of privacy. Then, while ensuring that privacy does not become a veil for criminal activity, according to Micali.
Permissioned co-chains can assist developers in creating ecosystems that are separate from the main Algorand blockchain. Then, and could be utilized for central bank digital currencies (CBDCs).

Algorand is also attempting to improve its speed and scalability, with the first scheduled upgrade doubling network speed.

Algorand is an open source public blockchain network that uses a pure proof-of-stake (PPoS) algorithm. Then, to pick block validators at random and in secret.

According to CoinGecko data, Algorand, which has a market worth of US$5.4 billion. Also, was trading at US$0.816 at press time, up over 15% in the last week.

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