{"id":345952,"date":"2021-09-29T18:00:00","date_gmt":"2021-09-29T15:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/algorand-launches-virtual-machine-to-increase-smart-contract-capabilities\/"},"modified":"2021-09-29T18:00:00","modified_gmt":"2021-09-29T15:00:00","slug":"algorand-launches-virtual-machine-to-increase-smart-contract-capabilities","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/algorand-launches-virtual-machine-to-increase-smart-contract-capabilities\/","title":{"rendered":"# Algorand launches virtual machine to increase smart contract capabilities"},"content":{"rendered":"

“# Algorand launches virtual machine to increase smart contract capabilities <\/strong>”
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Blockchain platform Algorand has today announced the launch of the Algorand Virtual Machine (AVM), a layer-1 protocol upgrade designed to enhance decentralized app<\/a> scalability for developers and organizations, enable instant transaction finality, as well as sustain a negative carbon output.\u00a0<\/p>\n

In addition to these advancements, the AVM also will give developers program tools to write smart contracts in Python or Reach, a similar format to the multi-paradigm web page language Javascript.<\/p>\n

Two weeks ago, Algorand showcased their highly-anticipated smart contract architecture with the implementation of Plutus-powered scripts in the Alonzo hard fork. This was a notable advancement in Algorand\u2019s ambitious roadmap, though Algorand was cautious in stressing that expectations should be sensible, and that albeit publicly launching over two years ago, the platform still believes that this is \u201cearly days for the project.\u201d<\/p>\n

Despite anticipation around the greater utility expected, data<\/a> from Vercel app reveals that only 27 Plutus-powered smart contracts have been deployed at the time of writing.\u00a0<\/p>\n

Related: Here\u2019s why Algorand’s price just rallied to a new multi-year high<\/em><\/strong><\/p>\n

Owen Colegrove of Algofi, a decentralized banking platform built upon Algorand, stated:<\/p>\n

\u201c AVM, coupled with Algorand\u2019s existing high performance, enables scale at an entirely new level. Additionally, it’s incredibly easy to quickly iterate, streamline and improve our product, first with the lending protocol and later on with more DeFi banking services.”<\/p>\n

Earlier this month, the\u00a0Algorand Foundation launched a $150 million fund focused on the cultivation of the platforms decentralized finance ecosystem, in addition to fostering growth for\u00a0synthetic applications and NFT platform, amongst others.\u00a0<\/p>\n

Data from Cointelegraph Markets and TradingView<\/a> reveals that Algorand\u2019s native token (ALGO) is currently priced at $2.13. As of now, the value of the above fund stands at close to $320 million.<\/p>\n