Efficiency Of Algorand Layer-1 and 2 Blockchain Over Other Blockchain - CoiNews


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Tuesday, August 18, 2020

Efficiency Of Algorand Layer-1 and 2 Blockchain Over Other Blockchain

The revolution which has been presented by the emergence of the Blockchain technology, is no longer a news, since it is sweeping across different industries and sectors of the world, impacting every system which comes in contact with it.

It cannot be overlooked, the impact of the Blockchain technology, across the global industries, as it is being used to so solve different problems in these industries where it is adopted, due to how sophisticated it is and the great height that is attainable in these industries with the Blockchain, that has led to the development of varieties of Blockchains.

Over the years, the different Blockchains that have been created have all been with one goal, to improve the living standard of the global users by making operations to be less tedious and more reliable.

Currently, there are different Blockchain in use today by different systems based on their specifications and the problems they intend to solve. A sophisticated Blockchain type is required to achieve efficiency in the Blockchain industry, since the majority of the ones available in the Blockchain industry are inefficient and are unable to perform effectively, when incorporated into different systems.

The Algorand Blockchain System

Algorand, a renowned system in the Blockchain industry, plans to achieve efficiency in the Blockchain system, so it has created a double tier Blockchain for use on different systems.

The Algorand system is a digital platform that is directed towards ensuring the advancement of the Blockchian industry and make the use of this technology to be beneficial to whichever system decides to adopt it.

The Algorand Blockchain system is very unique and superior when compared to other Blockchains due to its efforts in revolutionizing the Blockchain sector by providing the different tools which are not which are not present on other Blockchains, that brings us to our focus which are both the Layer -1 and Layer-2 chain, as developed by the Algorand system.

A Deep Dive Into The Algorand Layer-1 and Layer-2 Blockchain Architecture Layer-1 Chain Design Algorand

Algorand since its inception, has shown how efficient it is, when compared to other Blockchains due to how it has made provisions for different activities, on its Blockchain, one of which is the Layer-1 or on-chain system.

This was developed by the Algorand system and is used to carry out common transactions, regular things done in our everyday lives.

With its creation on the Layer-1 system, it will be easy, executing common transactions as businesses and other systems, will incorporate the Blockchain technology into their framework so as to efficiently use it to improve their systems and perform better for the users.

It was with a machine language called TEAL, in its quest to deliver to those developers who will adopt it, with the ability to leverage the Blockchain in the creation of tools that will solve simple problems and be used for common transactions.

Unlike other Blockchains which are too complex and so only try to execute complex operations, the Algorand Layer-1 chain is designed for very simple digital transactions, so as to ensure that every facet of our lives is catered for.

That's not all ...

Having taken care of very simple transactions with the Layer-1 chain, Algorand still sees the need to take care of other kinds of transactions which could not be covered by the Layer-1 chain, that led to the creation of its ...

Algorand Layer-2 Chain Design

So that users of the system don't go through the stress of seeking other alternatives when they are confronted with complex transactions, the Algorand system also developed the Layer-2 chain.

Layer-2 chain is tailored towards executing tedious, complex and big transactions, which could not be handled by the Layer-1.

Most transactions are very demanding in terms of tools and computational power, and so require well suited Blockchain tools to execute, Layer-2 as created by Alogrand, makes this possible.

With this, users will be able to efficiently manage big data, with ease, carry out very complex computational transactions with less difficulty, solving different problems without stress.

The creation of the Layer-1 and Layer-2 Blockchain smart contract, by the Algorand system is exactly what the world needs, seeing as it takes care of both the tedious and easy part of life, by simplifying transactions.

This milestone reached by Algorand is the feat which has been impossible for other Blockchain systems to achieve, as they are unable to provide tools that will solve problems at different levels.

Algorand will not only solve the minor and major problems with its two-tier chains, but will also make for the global adoption of the Blockchain, because different systems, both those who carry out simple and complex digital transactions, will easily integrate it into their systems, since it was designed to meet the demands of different kinds of transactions.

Additionally, the perspective of many will change about the Blockchain, like those who portray it to be a very complex tool, will see its use in executing simple transactions, as well as complex transactions, hence adopting it.

In Summary,

With its Blockchain architecture, the Algorand system will drive efficiency into the Blockchain industry, and make it exactly what it was developed to be, a technology which will simplify transactions and help execute different digital operations with ease and efficiency.

These Layer-1 and Layer-2 Blockchain smart contracts make sure that every aspect of life, both the regular and the complicated transactions, are executed easily, making the Blockchain efficient again. Learn more about Algorand L1 and 2 blockchain and its efficiencies here

Author: Gifton Nwokoro

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