Proof-of-stock blockchain Algorand now supports smart contract.
The Algorand Foundation released an update for blockchain protocol on Thursday, adding financial decentralization (Defi) contract plus smart features the long-awaited. “Algorand 2.0” is the largest expansion of network capabilities since the launch of the network in June 2019.
“With this release, new features and a simple resource that enables developers new use cases and the wider adoption of blockchain as a whole,” said Steve Kokinos Algorand CEO in a statement.
For months Algorand employee has signaled a delayed development. This is the first time Algorand supports smart contract, contract-driven code to track and implement the provisions of the formal agreement from time to time.
ASC smart contract Algorand have different back-end of the smart contract initiated by blockchains like ethereum. That’s because the new Algorand in-house programming language Agreement Transaction Execution Language (TEAL), is a non-Turing-complete.
Turing completeness is a measure of the ability of a programming language to simulate other programming languages and may manipulate its own programming instructions.
Virtually all modern programming language Turing-complete, but Algorand brokers TEAL difference as a feature, not a bug. Teal smart contract safer to write and execute, despite having a more limited potential function, Algorand argued.
“We do not believe that the Turing-complete required for most cases of use,” said Paul Riegle, head of product at Algorand. “He added that a large attack surface and steep potential performance impact.”
simple function could mean better security – or, at least, an easier path to ensure ASC contract coders accidentally lost assets. It is easier and faster to check the code for the error when the smart contract does not include a recursive logic programming language, according to Hacker Noon.
Standard publishing assets (ASA) function carries extensive features for Algorand tokenization, and is also a basic tool Defi.
The foundation said developer page of any asset can be digitized and stored in a chain with ASA.
Algorand also introduced a batch transaction functionality with features Atom Transfer released Thursday.
With the new tool, users can transfer complex sign – such as circular trading and settlement internal account – in one transaction, said developer page.
The foundation said that Algorand 2.0 does not affect Algorand sharia compliance certification, with other key features remaining unchanged.
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