The Algorand team announced the launching of a Virtual machine that will give options for developers to build complex smart contracts in the Algorand ecosystem.
Algorand ecosystem is getting huge popularity and fame since few months because of its ability and potential for future projects & development work on the Algorand ecosystem.
On 29 September, Algorand announced that the upgraded version of launching Virtual machine will unlock huge features that will be a better option for the developers to develop & implement complex smart contract features in DeFi, the NFT marketplace, web3.
Paul Riegle, the Chief Product Officer of Algorand, talked about this launching with the Cointelegraph and stated
“This AVM upgrade allows for the development of complex smart contract based applications in DeFi, the NFT marketplace, web3 and more. We’re already getting great feedback within the Algorand ecosystem, and look forward to continuing this momentum.”
Owen Colegrove, one of the leader Defi banking platform based on Algorand platform, stated
“AVM, coupled with Algorand’s existing high performance, enables scale at an entirely new level. Additionally, it’s incredibly easy to quickly iterate, streamline and improve our product, first with the lending protocol and later on with more DeFi banking services.”