Algorand shaves block times by 20% after Dynamic Lambda upgrade

Jan 17. 2023

By Jesse Coghlan

Block creation times on the layer-1 blockchain Algorand have been cut by roughly 20% after a newly implemented protocol update, with average block times now averaging below three seconds.

In a Jan. 17 X (Twitter) post, the Algorand Foundation announced that the update — called Dynamic round times or Dynamic Lambda — had gone live, touting higher throughput and increased network performance.

Block time data from Grafana shows the average block interval time dropped below three seconds and has hovered around 2.9 seconds per block since the update. In comparison, Ethereum block times average around 12 seconds.

The average block time per hour (UTC) dropped below three seconds after the update. Source: Grafana

Before the update, blocks were created at an average rate of around 3.3 seconds.

Algorand (ALGO 🔻$0.19) — the blockchain’s coin of the same name — is trading at $0.189 and is down nearly 4.5% in the past 24 hours and 3.7% over the past month, per Cointelegraph Markets Pro data.

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