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Algorand releases version 1.0 of platform’s dApp builder, including upgrades to smart contracts

Algorand releases version 1.0 of platform's dApp builder, including upgrades to smart contracts
Samuel
Town
2 weeks ago
2 mins read

Environment-centered cryptocurrency platform Algorand (ALGO) has released version 1.0 of the Algo Builder platform that facilitates the building of dApps for enterprises alongside hackathon projects. 

The release follows ten months of development with the Algo Builder offering a framework that enables developers to build, test, deploy and maintain projects alongside providing access to high-level libraries. The release is part of accelerating Algorand applications to be simple, efficient, and scalable.

Furthermore, Algorand also unveiled new smart contract templates with updates, including permissioned tokens designed for securities and ASA with restrictions. Notably, the feature can help in clarifying complex compliance requirements, including investor whitelisting and transfer restrictions.

The smart contract feature also comes with a stateful counter that provides a roadmap for opting into a stateful smart contract. Elsewhere the platform also announced the creation of a new repository with dapp templates. 

Furthermore, Algorand has planned several blockchain upgrades with a scheduled release of other smart contract templates, including DAO, Bond Token, and Unique NFTs

Algorand’s pledge to be the greenest blockchain

The Algo Builder release comes barely a month after the platform’s pledge to be the greenest blockchain partnering with CO2 emissions transparency and traceability firm Climate Trade. 

The decision saw the rollout of a sustainability oracle that notarizes Algorand’s carbon footprint on-chain. Algorand will also deploy smart contracts to lock the equivalent amount of carbon credit using Algorand Standard Asset. 

“We understand that the mechanics of measuring the environmental impact of a global, decentralized, and widely used blockchain are nuanced and complex. That’s why we are teaming up with ClimateTrade to continue and double-down on our eco-conscious efforts,” said Algorand founder Silvio Micali.

Algorand aims to change the narrative around sustainability and cryptocurrency mining carbon footprint. Recently, bitcoin has come under sharp scrutiny over the asset’s mining power consumption. In addition, Crypto critics have questioned bitcoin’s long-term viability citing the carbon footprint impact.

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Samuel Town
Author

Samuel is a professional finance copywriter with years of experience. He has created propositions, pitch decks, white papers, and content for over 100 respectable firms, startups, businesses, and institutions globally. At Finbold.com he covers deep-dive reviews of the various financial companies.