The Algorand blockchain has launched a significant technological upgrade on March 3. It supports cross-chain interoperability and enables developers to quickly construct complex decentralised applications (dapps) on its network. The addition of Falcon Keys is a key characteristic of the current update. These keys will be used to construct State Proofs. State Proofs are new blockchain infrastructures. They will allow Algorand to be trusted in low-power contexts like as mobile phones and smartwatches, as well as on other blockchains.
The upgrade includes a smart contract-to-contract “calling” feature. It enables applications to interconnect with other smart contract-based products. This connection will also be efficient and trustworthy manner. Such tasks can now be performed by anybody, at any time, for any purpose.
Previously, Algorand smart contracts could only be invoked by a developer explicitly placing data in each contract’s local state. The process was time-consuming and complicated operation. The current upgrade allows a contract to immediately contact another contract directly.
The announcement follows the Algorand Foundation’s $20 million incentive programme. The programme is focused on developer tooling and interoperability with the EVM. EVM refers to Ethereum Virtual Machine which is a virtual computer. It can be accessed from anywhere in the globe using Ethereum nodes.