Algorand
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ALGO · 7w

Biweekly update on Algorand: Co-Chains, The IReport-Covid App, Algorand Wallet, Partnership with Meld

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Algorand Co-Chains. The Need for Both Public and Private Blockchains

The Algorand protocol is a public permissionless blockchain platform that enables all organizations, individuals and governments to exchange value in a manner that is efficient, secure and transparent. However, governments, central banks and traditional financial organizations have complex regulatory, control and compliance requirements that frequently require a different solution.

Understanding this need for both public and private blockchains, Silvio Micali has recently shared his latest for Algorand Co-Chains, which are private permissioned chains that interoperate with the Algorand MainNet.

A co-chain Is totally independent from the public chain, shields its transactions from all outsiders, chooses its own validators, and runs its own Algorand consensus algorithm; Interoperates with the Algorand main chain to transact with other co-chains, and everyone else, with the same ease and security with which the members of Algorand’s permissionless chain transact with each other; and Enjoys, both in its internal and external interactions, the same atomic transactions, layer-1 smart contracts, and all other primitives and tools offered by the permissionless Algorand protocol. In fact, it automatically inherits all the improvements and upgrades that will be added to Algorand’s permissionless protocol.

Source

Read the full article on Algorand Co-chains

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