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News March 22, 2022

Algorand founder: Algorand is planning a series of upgrades to enhance network privacy and speed

Algorand founder and MIT professor Silvio Micali said Tuesday at Australia Blockchain Week that Algorand is planning a series of upgrades to enhance the privacy and speed of the network, and to develop permissioned synergy chains to create a trustless relationship between chains of decentralised bridging.

Micali said Algorand is working with regulators to develop a privacy layer while ensuring that privacy does not become a curtain to hide malicious activity. Permissioned synergy chains can help developers build ecosystems independent of the main Algorand blockchain and can be used for central bank digital currencies (CBDCs).

Algorand is also working to improve its speed and scalability — the first planned upgrade will make the network 10x faster.

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