Tomorrow is Algorands Birthday – 3 years old and starting to gain traction with its technical superiority
3 min read
Our little ALGO is growing up, and starting to become a real contender in the Blockchain wars.
What Is Algorand?
Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Launched in June 11th, 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permissionless, open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality. — that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds.
What It Offers –
DEXes
Decentralised exchanges built on Algorand benefit from the unique features of the Algorand network, scalability, decentralisation and security. Algorand’s low transaction fees also facilitate lower commissions that eventually benefit liquidity providers rather than the blockchain network itself. On top of that, Algorand is exceptionally fast, with each transaction reaching finality in less than 5 seconds.
Currently Three DEXes are up and running (Tinyman, AlgoDex, Pactfi) with Humble DeFi 2.0 hopefully launching soon.
Staking & Yield Farming
A unique opportunity to stake Algorand Standard Assets (ASA) into purpose-built ASA smart contracts. Stake capital in the form of Algorand’s native tokens and benefit from strong APYs (Annual Percentage Yield), high speed and low cost. Deposit and withdraw tokens at any time
Algostake & Yieldly
Gaming on Algorand
Alchemon: PvP and PvE NFT Card Battling & Staking Arcadian Tales: Play to Earn RPG Cosmic Champs: Real-Time Tower Rush GameFi AlgoSeas: Play to Earn Pirate Combat and NFT Staking
Algorand Standard Assets
The Algorand protocol supports the creation of on-chain assets that benefit from the same security, compatibility, speed and ease of use as the Algo. The official name for assets on Algorand is Algorand Standard Assets (ASA).
With Algorand Standard Assets you can represent stablecoins, loyalty points, system credits, and in-game points, just to name a few examples. You can also represent single, unique assets like a deed for a house, collectable items, unique parts on a supply chain, etc. There is also optional functionality to place transfer restrictions on an asset that help support securities, compliance, and certification use cases.
To many to list them all
Other projects on Algorand
Algorand is definitely the Blockchain to watch in the next Bull Run.
submitted by /u/Odlavso
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