The Algorand product and engineering team announced on Twitter on Wednesday that it has reached a new milestone as it aims to achieve its scalability goals. The team said it has removed the limits placed on the number of assets and smart contracts that an account can create or opt into. It added that this move is crucial for Algorand to boost its performance and increase scalability.
Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products”. As such, Algorand ensures "full participation, protection and speed within a truly decentralized network".
ALGO is trading at $0.8560 at press time, up by more than 3.16% in the last 24 hours.