Algorand (ALGO) has shown remarkable performance since yesterday after jumping nearly 15% from its daily low, $ 0.73 yesterday to $ 0.84 today.
This incredible ALGO movement may have something to do with the announcement from its founder, Silvio Micali yesterday at the Blockchain Week Australia event.
According to Micali, several network improvements are being implemented and among them include:
Network privacy
Through collaboration with supervisors, Algorand wants to create a layer of privacy that will not hide illegal activities.
Establish co-chains
Co-chains are able to help developers to create an ecosystem independent of the Algorand mainnet and can be used for central bank digital currency (CBDC).
Network scalability and speed
Is the first improvement to be implemented.
It is expected that the network speed will be increased by 10 times.
At the time of writing, ALGO is trading at $ 0.814, slightly lower than the daily highs recorded this afternoon.
ALGO needs a jump of over 75% to redeem the all -time highest value (ATH), $ 3.28 recorded on June 21, 2019.
