The Algorand blockchain has seen a decrease of approximately 20% in block creation times following the implementation of a new protocol update.
The updated Dynamic Lambda or dynamic round times, which was announced by the Algorand Foundation on Jan. 17, has resulted in improved network performance and higher throughput.
Based on data from Grafana, the average block interval time has dropped below three seconds and has remained around 2.9 seconds since the update. In comparison, Ethereum’s block times average about 12 seconds.
Prior to the update, block creation occurred at an average rate of roughly 3.3 seconds. Currently, Algo, the native token of the Algorand blockchain, is trading at $0.189, having experienced a decline of 4.5% in the past 24 hours and 3.7% in the past month.
