{"id":53076,"date":"2023-06-26T08:06:11","date_gmt":"2023-06-26T12:06:11","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=53076"},"modified":"2023-06-26T08:12:47","modified_gmt":"2023-06-26T12:12:47","slug":"dwf-labs-partners-with-algorand-foundation-to-support-algorand-ecosystem","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/dwf-labs-partners-with-algorand-foundation-to-support-algorand-ecosystem\/","title":{"rendered":"DWF Labs Partners with Algorand Foundation to Support Algorand Ecosystem"},"content":{"rendered":"\n<p>DWF Labs, a Web3 investment company, has partnered with the <a href=\"https:\/\/coinscreed.com\/staging\/algorand-foundation-to-drive-web3-adoption-in-india.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Algorand Foundation<\/a> to support the growth and development of the Algorand blockchain ecosystem. The partnership involves a $50 million purchase of ALGO tokens and a memorandum of understanding to fund projects built on Algorand.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs-1024x576.jpg\" alt=\"DWF Labs Partners with Algorand Foundation to Support Algorand Ecosystem\" class=\"wp-image-53086\" width=\"846\" height=\"476\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs-1024x576.jpg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs-300x169.jpg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs-768x432.jpg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs-750x422.jpg 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs-1140x641.jpg 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs.jpg 1200w\" sizes=\"(max-width: 846px) 100vw, 846px\" \/><\/figure>\n\n\n\n<p>The Algorand blockchain is a high-performance, permissionless platform that enables fast, secure, and scalable transactions. It also has a strong focus on environmental sustainability and social impact. <\/p>\n\n\n\n<p>Algorand recently announced a major protocol upgrade that will increase its network speed and lower its costs.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.dwflabs.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">DWF Labs<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> supports innovative projects in the blockchain space and has announced a strategic partnership with the Algorand Foundation. This organization oversees the development and governance of the Algorand blockchain.<\/p>\n\n\n\n<p><strong>The partnership has two main components:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A $50 million purchase agreement of ALGO tokens, the native currency of the Algorand ecosystem. The acquisition will provide liquidity and stability to the ecosystem and demonstrate DWF Labs\u2019 long-term commitment to Algorand.<\/li>\n\n\n\n<li>A memorandum of understanding to allocate funds to support projects built on the Algorand blockchain in various domains, such as DeFi, art and music, games, oracles and bridging, infrastructure, and more. The funds will help accelerate the adoption and innovation of the Algorand platform and foster a vibrant community of developers and users<\/li>\n<\/ul>\n\n\n\n<p>Andrei Grachev, Managing Partner of DWF Labs, expressed his enthusiasm about the partnership and its potential to drive blockchain innovation. He also pledged to participate in the building of the Algorand ecosystem actively.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe selected Algorand because of its unparalleled level of technology and security among permissionless DLTs, as well as its leadership in environmental sustainability and social impact. Algorand\u2019s blockchain infrastructure provides the speed and instant finality required for creators, financial institutions, and governments to smoothly transition to the new digital economy at scale in an environmentally responsible manner. This partnership with the Algorand Foundation is another important step in the maturation and growth of innovation in this space,\u201d<\/p>\n<cite>Andrei Grachev<\/cite><\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-algorand-announces-protocol-upgrade-to-boost-network-performance\">Algorand Announces Protocol Upgrade to Boost Network Performance<\/h3>\n\n\n\n<p>Along with the partnership announcement, Algorand also revealed a <a href=\"https:\/\/developer.algorand.org\/articles\/reaching-new-transaction-speeds-on-algorand\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">significant protocol change<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a> that is expected to improve its network performance. <\/p>\n\n\n\n<p>The upgrade involves changes to the consensus method, block size, and block time, resulting in faster transactions and lower costs.<\/p>\n\n\n\n<p>The upgrade will boost the network speed by up to <strong>10%<\/strong>, allowing for more transactions per second. These changes will greatly increase transaction throughput, making sending and receiving payments over the platform easier for users.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">ALGO Token Surges Amid Positive News<\/h4>\n\n\n\n<p>The news of the partnership and the protocol upgrade has also boosted the price of ALGO, the ecosystem token. <\/p>\n\n\n\n<p><a href=\"https:\/\/www.coingecko.com\/en\/coins\/algorand\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">ALGO surged <span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a>to a new all-time high of<strong> $2.65<\/strong> on June 23, making it the 12th largest cryptocurrency by market cap with over <strong>$8 billion. <\/strong><\/p>\n\n\n\n<p>ALGO holders can also enjoy staking rewards, governance rights, and various Algorand-based applications.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DWF Labs, a Web3 investment company, has partnered with the Algorand Foundation to support the growth and development of the Algorand blockchain ecosystem. The partnership involves a $50 million purchase of ALGO tokens and a memorandum of understanding to fund projects built on Algorand. The Algorand blockchain is a high-performance, permissionless platform that enables fast, [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":53086,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,73],"tags":[488,202,13827],"class_list":["post-53076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-defi-news","tag-algorand","tag-blockchain","tag-dwf-labs"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/DWFLabs.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/53076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=53076"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/53076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/53086"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=53076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=53076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=53076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}