Demex Daily #73: Algorand's Dynamic Lambda Upgrade Reduces Block Times by 20%

What’s Interesting Today:

Algorand, a layer-1 blockchain, has implemented the Dynamic Lambda upgrade, reducing block creation times by about 20%, with average block times now under three seconds. Announced on Jan. 17, this update enhances network throughput and performance. Since the upgrade, block interval times have averaged around 2.9 seconds, compared to Ethereum's average of 12 seconds. Dynamic Lambda, which adjusts block finality based on network conditions, aims to improve scalability and confirmation speeds. Despite these advancements, Algorand's native token, ALGO, has seen a slight decline in its value. The blockchain's 2023 roadmap includes support for Python, more non-archival relay nodes, an upgraded consensus mechanism, and a peer-to-peer network. Algorand, known for tackling the blockchain trilemma, hosts several projects including FIFA's NFT marketplace and an Italian digital banking platform.

Ethereum staking platform Kiln has successfully raised $17 million in funding to support its global expansion, including the establishment of a new Asia-Pacific headquarters in Singapore. This funding round, an extension of their $17.6 million Series A from November 2022, was led by 1kx and saw participation from several investors including IOSG,, and LBank. With a total of $35 million raised since its inception, Kiln aims to use these funds for further product development and to democratize value creation in the digital asset ecosystem, according to CEO Laszlo Szabo.