Algorand Enhances TEAL Smart Contract Language in Latest Upgrade application building expands BOSTON, April 13, 2021 /PRNewswire/ -- Algorand, a leading blockchain technology company accelerating the convergence of decentralized and traditional finance, continues to deliver on its commitment to technical innovation with the availability of its latest upgrade to its Layer-1 Smart Contracts language (TEAL), the first in a series of such enhancements. Smart Contracts on Algorand are built into Layer-1 and thus benefit from the network's speed, security, and scalability with reduced settlement risk through trustless execution, low transaction fees, and flexible implementations needed to power complex applications. The latest upgrade is based on direct feedback from the Algorand developer community to address and remove obstacles for viable mainstream adoption, mainly by ensuring application development is faster and more efficient. Algorand's smart contract language, TEAL (Transaction Execution Approval Language), has been upgraded for a more optimized developer experience, while maintaining a Layer-1 language and increasing access and convenience, without compromising performance or economic efficiencies.