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.
The Algorand Foundation, the organization focused on growing the ecosystem for the world's most secure and reliable Layer-1 blockchain technology, today announced the appointment of Jessica Tsai Chin as Chief Marketing Officer, effective January 17. Chin will focus on carving out mindshare and bringing global recognition to Algorand and its ecosystem, to help drive global adoption of the network.
"Joining Algorand was a no-brainer for me. It was a combination of the best-in-class technology, the professionalism of the team, and the overall promise of Web3 that drew me to this role," said Chin. "Whereas the last two cycles have been about first-generation blockchains, this next cycle will be about Algorand. I look forward to driving global recognition of the Algorand ecosystem to benefit millions, if not billions of people."
Chin joins the Algorand Foundation with 15 years of experience in marketing for some of the world's best-known companies. Most recently, she was Head of Brand for Global Privacy at WhatsApp, where she developed the company's positioning as the world's top messaging platform. She also led the marketing team's metaverse efforts.
Prior to joining WhatsApp, she worked in global brand marketing at Nike, where she developed mobile-first membership growth initiatives that drove massive global fandom and community engagement for platforms like SNKRS and the Nike Run App. Before that, she spent over four years at Apple, leading global special projects for enterprise technology products.
These experiences give Chin valuable Silicon Valley insights to apply at Algorand, as the Foundation seeks to onboard the next billion users to the blockchain. Chin will report directly to the Algorand Foundation's CEO, Staci Warden.
"After a lengthy search, I am thrilled that Jessica has agreed to join the Algorand Foundation to lead our global marketing efforts. She has a brilliant sensibility for driving a brand narrative, understands cutting-edge technology, and comes from a deeply inclusive mindset," said Warden. "I'm looking forward to working closely together with her to develop a long-term strategy for positioning Algorand as the very best platform for Web3 innovation and the future of inclusive finance."
Chin is the latest senior executive appointment at the Algorand Foundation, where Warden has recruited a slate of senior leaders across Web3, tech and finance in the past year, including Min Wei as Global Head of Ecosystem Growth; Eric Wragge as Global Head of Business Development & Capital Markets; Deirdre Halligan as COO; Harpal Singh as CFO; and John Woods as CTO.
In the coming weeks, the Algorand Foundation will hold a virtual listening tour to engage the Algorand community for feedback on marketing priorities. To learn more, please follow the Algorand Foundation on Twitter.
LinkedIn: https://www.linkedin.com/in/jessicatsaichin (Apple - Nike - WhatsApp)
Twitter Space today - community meet & greet with our new CMO: https://twitter.com/i/spaces/1DXGyvLMQkPJM/peek
Her Twitter account: https://twitter.com/JessatAlgorand
-- Another article
Algorand Foundation poaches WhatsApp exec to lead marketing efforts
"Many web2 companies are having a difficult time embracing the concept of decentralization and data ownership, but there’s a huge opportunity to move in this direction," she said "I believe data privacy needs to be built-in by design and on by default."
"Web3 marketing needs to truly lead the charge," she said. "We need to move away from pure hype marketing and move towards a much more authentic, community and human-centered place, boldly leveling the playing field of who gets access to what."
"Both at Meta and Nike, I had the opportunity to feature underrepresented voices and partner with meaningful organizations to drive visibility," she said. "Everything we did drove brand and business impact but also on-the-ground impact for the communities that we serve. The web3 space is ripe for this type of conversation and real-world application."
Chin said that while sports will remain a key part of Algorand's marketing master plan, she will also focus on highlighting DeFi and social impact projects built on Algorand.
As part of her role, Chin has already hired a head of performance and is looking to bring on a head of communications and a creative director.