Posts about Algorand
I think we can all agree that tps numbers can be hard to compare between chains. Some chains can pin 10000s of native token transfers, but things get weird when you start to compare smart contracts.
Last year, I posted about this metric in the Algorand subreddits for determining throughput of different blockchains in the fairest way possible. That is using an AMM “uniswap-style” swap as the benchmark.
The authors of the medium article linked in my original post tested the smart contract throughput of some of the top smart contract platforms empirically, and they found that these chains to have the following AMM-swap tps limits:
Solana Mainnet Orca - 273 swaps
BSC pancakeswap - 195 swaps
Polygon quickswap - 95 swaps
Avax Trader Joe - 176 swaps
Celo Ubeswap - 50 swaps
Ethereum uniswap v2 - 18 swaps
Immediately after the 6k tps upgrade, I made a post about Algorand's ability to perform these AMM-style swaps which was estimated using the assumption that an AMM swap would require four txns per swap. This estimation came out to about 1625 swaps per second. At the time this was very impressive because the next fastest chain was Solana capped at being able to do 273 swaps per second.
People foreshadowed in the comments on one of my previous posts saying that it could definitely be done in less than four transactions, but I wanted to be conservative at the time.
Today, I saw on twitter that one of the developers from Vestige actually empirically tested this on the MAINNET and proved that Algorand can do 2881 AMM-style swaps per second. You can see the on-chain evidence in this block.
Algorand literally dwarfs these other chains in smart contract efficiency10.5x more than Solana Mainnet Orca - 273 swaps
15x more than BSC pancakeswap - 195 swaps
30x more than Polygon quickswap - 95 swaps
16x more than Avax Trader Joe - 176 swaps
57x more than Celo Ubeswap - 50 swaps
160x more than Ethereum uniswap v2 - 18 swaps
3.5x more than all of them combined - 807 swaps
If anybody can do this experiment for other popular Layer 1s like Tezos, NEAR, or Elrond or the Layer 2s on ETH, I would love to include them here.
Please be respectful in the comments :)
So on January 17th at 7:45 PM Staci Warden the CEO of the Algorand Foundation decided to toy with the emotions of Dozens of ALGO holders by tweeting the very cryptic message "NIKE"
This led to people speculating some sort of partnership, desperate Algorand investors who haven't had the best time the last couple of months began for a short time to let themselves dream of profit.
These dreams were quickly crushed when Staci decided to respond to questions over what exactly this tweet "NIKE" meant?
It meant nothing, apparently being just a lesson in marketing.
Odlavso - ALGO bag holder
I have dreamed a dream, but now that dream is gone from me
Now I could use some not very appropriate words to describe how I feel about this CEO after this little "Marketing experiment" but I will show a little restrain and post the best reply to her so far from Axetrax on twitter.
Axetrax22:
You really should think about these things before you tweet…the Algorand community is starving for fresh serious partnerships while polygon seems to land a new one every other day. It should be feasible that Algorand could partner w/Nike so teases like this gets people excited
Why the CEO of the Algorand Foundation decided to troll all the ALGO bag holders like this on Tuesday night will probably remain a mystery but I guess Algorand holders are used to be dumped on by the foundation, hang in there Algonauts.
I think we can all agree that tps numbers can be hard to compare between chains. Some chains can pin 10000s of native token transfers, but things get weird when you start to compare smart contracts.
Last year, I posted about this metric in the Algorand subreddits for determining throughput of different blockchains in the fairest way possible. That is using an AMM “uniswap-style” swap as the benchmark.
The authors of the medium article linked in my original post tested the smart contract throughput of some of the top smart contract platforms empirically, and they found that these chains to have the following AMM-swap tps limits:
Solana Mainnet Orca - 273 swaps
BSC pancakeswap - 195 swaps
Polygon quickswap - 95 swaps
Avax Trader Joe - 176 swaps
Celo Ubeswap - 50 swaps
Ethereum uniswap v2 - 18 swaps
Immediately after the 6k tps upgrade, I made a post about Algorand's ability to perform these AMM-style swaps which was estimated using the assumption that an AMM swap would require four txns per swap. This estimation came out to about 1625 swaps per second. At the time this was very impressive because the next fastest chain was Solana capped at being able to do 273 swaps per second. You might recall seeing this graph floating around for a little bit.
Algorand can now do more than all of these chains combined (september 22')People foreshadowed in the comments on one of my previous posts saying that it could definitely be done in less than four transactions, but I wanted to be conservative at the time.
Today, I saw on twitter that one of the developers from Vestige actually empirically tested this on the MAINNET and found out that Algorand can do 2881 AMM-style swaps per second. This is nuts. You can see the on-chain evidence in this block. They also made a graph that looks wayyyy better than mine!
Algorand literally dwarfs these other chains in smart contract efficiency.10.5x more than Solana Mainnet Orca - 273 swaps
15x more than BSC pancakeswap - 195 swaps
30x more than Polygon quickswap - 95 swaps
16x more than Avax Trader Joe - 176 swaps
57x more than Celo Ubeswap - 50 swaps
160x more than Ethereum uniswap v2 - 18 swaps
3.5x more than all of them combined - 807 swaps
Props to all of y'all that did this. You deserve a medal and a parade.
Edit:
If any of you guys are able to post in the Tezos, Elrond, NEAR or ETH L2 communities, you should try to get somebody to test their AMM capabilities. I think they would be the most interesting to include.
Algorand Governance sign up period ends at 4 PM UTC - Janurary 15th
There are different ways for you to participate in Algorand Governance, you can commit ALGO directly from your wallet without the ALGO's ever leaving your control. This is the safest and easiest way to paritipate. link to the main Algorand Governance page below, if you don't trust links simply search Algorand Governance on google and you'll find it.
https://governance.algorand.foundation/governance-period-6
You can also participate through different DeFi platforms, you will have to deposit your ALGO's for this option. Anytime you deposit your crypto into any DeFi platform you always take the risk of that platform being a bad actor and taking your funds or that the platform gets users funds drained in some way, you do earn a higher return with these but be aware of the risk involved.
Folks.finance offers liquid governance with Algorand (sign up ends at 10 AM UTC January 15th - 4 fours from the time of me typing this)
Algofi.org offers liquid governance with Algorand (sign up ends at 4 PM UTC Janurary 15th)
Gard.money offers governance with Algorand
Remember to read up on any of the DeFi platforms before giving them custody of your ALGO's