Algorand launches virtual machine to increase smart contract capabilities


Blockchain platform Algorand has today announced the launch of the Algorand Virtual Machine, or AVM, a layer-1 protocol upgrade designed to enhance decentralized app scalability for developers and organizations, enable instant transaction finality and sustain a negative carbon output.

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

Cointelegraph reached out to Algorand’s Chief Product Officer, Paul Riegle for his perspective on upgrade:

This AVM upgrade allows for the development of complex smart contract based applications in DeFi, the NFT marketplace, web3 and more. We’re already getting great feedback within the Algorand ecosystem, and look forward to continuing this momentum.”