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r/algorand
76.4k members
The community controlled subreddit for the carbon-negative Algorand blockchain and cryptocurrency.
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r/AlgorandOfficial
70.9k members
Official community for Algorand - World’s first open source, permissionless, pure proof-of-stake blockchain protocol designed for the future of finance. Founded by Turing Award-winning cryptographer Silvio Micali. Algorand runs on a highly energy-efficient network and is carbon neutral. Get started with AlgoKit today -> https://developer.algorand.org/algokit/
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r/algorandASA
27.4k members
Welcome to r/algorandASA (Algorand Standard Assets). This sub is for the discussion and announcements of new ASA's. Many of these asset are purchasable via https://app.tinyman.org/ 'Airdrop' & 'Announcement' posts must include a link to the asset on Algoexplorer.io in the post for transparency
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r/CryptoCurrency
6.4m members
The leading community for cryptocurrency news, discussion, and analysis.
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r/AlgoNFTMarketplace
13.3k members
This space is meant to discuss and learn about NFTs on Algorand! All deals are made at your own risk. No warranties or guarantees are made by Reddit or the moderators of this subreddit. Perform your own due diligence prior to making a trade. We recommend going through one of the marketplaces to help ensure a safe transaction. If you have a smooth transaction with someone PLEASE VOUCH FOR THEM in our Vouch Thread. Please have fun and be respectful!
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r/Algonauts
25.4k members
A hub for Algonauts to discuss, trade and collect NFTs and ASAs
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r/yieldly
12.4k members
Launched in June 2021, Yieldly is the first DeFi platform on the Algorand Blockchain. Website: https://yieldly.finance/ https://t.me/yieldly https://twitter.com/YieldlyFinance
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r/NyanAlgorand
232 members
Welcome to r/NyanAlgorand
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r/algorandFAME
118 members
ALGO FAM TOKEN is the Official token airdropped to the PIONEERS of the Algorand community on the 2nd of march 2021 $FAME promotes friendship, knowledge, charities and all forms of arts. First ETHICAL CRYPTO ever. Twitter➡️ @algorandFAME
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r/ExodusWallet
29.0k members
Welcome to r/ExodusWallet! This is the sub dedicated to the discussion of the Exodus cryptocurrency wallet. For official wallet support, please email support@exodus.com. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Remember: Exodus will NEVER ask you for your 12-word phrase, keys, or identifying information. Exodus will NEVER send you to another website to do any kind of updates except for our official website at www.exodus.com.
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r/AkitaInuASA
11.5k members
ALGO's best friend 💎🐶 Akita Inu (AKTA) - The Ultimate Community Coin on Algorand ASA ID# 523683256 Akita Kennel Club (AKC) - A stunning collection of 1,000 unique NFTs
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r/Algorand_Unofficial
92 members
Welcome to r/Algorand_Unofficial
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r/WeAlgoTogether
2.3k members
This village has been created on fundamental good values to build momentum; increasing awareness of Algorand. We will hodl together... Algorand price is unimportant, here the focus is on wholesome values, building a helpful ethical community; as we will be governors of the future... Algonauts unite!
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r/Tinyman
6.4k members
Tinyman is a next-generation Decentralized AMM protocol on the Algorand blockchain. https://app.tinyman.org
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r/algorandcasino
2.1k members
Bringing classic casino gaming to the Algorand ecosystem! Stake your Chips to become the house or provide liquidity to our chip/algo pool on Tinyman and recieve an automatic faucet drop! Find out about our verified asset, Chips (asa id:388592191) Links to our website/socials in the sidebar and top menu!
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r/NFTsMarketplace
284k members
A place where you can buy, sell, promote, and learn more about NFTs! Share your work, tell your story, but most importantly, interact with others, it's the only way to find people that truly connect with your work.
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r/HEADLINECrypto
3.4k members
HEADLINE Crypto is a Texas-based blockchain project and token from the team behind AlgoPay, AlgoCloud, Vaults Protocol, FORUM, PIPELINE-UI, and Algo Astros.
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r/CryptoCurrencies
379k members
We're Crypto Reddit's Fiji water in a desert of censorship and agendas. Arguably Reddit's best source for uncensored cryptocurrency news, technicals, education, memes and so more!
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r/AlgorandArgentina
27 members
Subreddit NO oficinal desde Argentina, del ecosistema global dinámico, inclusivo y sin fronteras, a escala, basado en la tecnología blockchain de Algorand. ⭐⭐⭐
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r/CryptoMarkets
1.5m members
Crypto Market Analysis & Discussion. Demand and price, technical analysis, fundamentals, Bitcoin, Ethereum, token, volume, oscillator, RSI, stochastic, trend, trends, sentiment, strategy, coin, coinmarketcap, coingecko, messari, altcoin, blockchain.
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r/CoinBase
231k members
Welcome to r/Coinbase!
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r/StonksALGORAND
116 members
Stonks is an algorand based project , for meme based NFTs.
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r/GreeneryCommunity
646 members
Welcome to the Greenery. We are a community of researchers and investors on a mission to establish an innovative marketing brand and help promote the Algorand Ecosystem. We conduct AMA with project owners, as well as interactive education sessions (Greenery Hour) daily on Telegram group Voice Chat.
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r/PeraWallet
1.9k members
Official community for Pera Wallet: The best wallet on Algorand.
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r/AlgorandGovernors
76 members
A community for Algorand Governors to discuss Algorand. For wanna be governors also ;-)
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r/cosmicchamps
952 members
Cosmic Champs is building the first 3d P2E NFT mobile game on the Algorand blockchain
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r/kittencoin_ASA
13.5k members
KittenCoin ($KTNC ASA: 361671874) https://www.kittencoin-asa.net/
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r/algofi
4.0k members
DeFi that scales. Built on Algorand. YC S21. Earn interest, borrow, and trade your crypto.
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r/cardano
690k members
Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
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r/ledgerwallet
104k members
Discussions about Ledger's products. Visit us @ ledger.com
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Posted by12 days ago

Algorand was one of the most hyped projects here during the 2020/2021 bull market. It had an amazing rise from $0.096 in May 2020 to about $3 in November 2021. We were all like:

https://i.redd.it/t1ddsrjeyt1b1.png

Since then, however, Algorand has rolled over and performed much worse than most other alts. Let me summarize:


(1) Algorand just set a new bear market low

The price right now is $0.1548. This is 95% down from the November 2021 high and a price we have not seen since March 2020. A lot of other alts have not continued to make new lows but Algorand is one of the few projects that has done so. Other alts are also down a lot less.

https://i.redd.it/m81nanj7ut1b1.png


(2) Algorand is the second worst performing asset over the past 90 days

While Bitcoin is up 8.8% in 90 days, Algorand is down 42.5%. Only Filecoin has performed worse over a 90 day period, but Filecoin is a terrible project with almost 100% inflation every year and it was marked as a security by the SEC.

Algo is second from the right...


(3) Algorand/Bitcoin keeps making new lows

Algorand is 98% down relative to Bitcoin since its highest point. 98%! And 90% relative to the November 2021 peak. Its just nonstop bleeding.

https://i.redd.it/cxnyr0lvut1b1.png

(4) The market cap just made a new bear market low

Even the market cap of Algo also just set a new bear market low. So even if you factor in the inflation of the token since all time high, the project is bleeding money.

https://i.redd.it/a1r0z9kuvt1b1.png

So....

  • What is wrong with Algorand? Why is it performing this bad relative to other alts?

  • What does the future of Algorand hold? Is this a good moment to buy then and why (not)?

  • Perhaps, given that everyone here is bearish on Algo now, it is time for it to pump and inverse us?

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Posted by25 days ago
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Posted by5 days ago

The tech is superb - i will not waste time on explaining this and will instead focus on what I believe is the main problem.

The problem

I believe that if you want to have good marketing in a cryptocurrency space then your marketing needs to be vastly different than in other spaces. While for most marketing positions the most important thing is to sign a deal with a big company, in crypto this doesn't matter that much because the space is still in speculation phase (well it does if you already have a big community to take advantage of such deal and show other companies that the deal was good for that company). I believe that we don't necessarily need big companies using algorand, that can (and probably should) come later (otherwise other big companies will see that the ones who are using algorand have no traffic and will hesitate to decide to go with algorand) but instead need to grow the community first.

Improvement 1

To grow the community one needs interaction. People love listening and interacting with "leaders" of the project (cardano has Charles, solana has Anatoly etc). Algorand's most obvious "leader" is Silvio, he could take up this role (who doesn't love listening to him) but it doesn't seem like he wants to. He's relying on others to grow the community when he has the highest chance to do it and is risking that his project never gains traction among people. I'm afraid he underestimates the importance of having a true leader to bootstrap the community. To me it feels like algorand is fighting a war without a leader, and while it's theoretically possible to win it's unlikely, around 10-18 - sorry, I had to. Having a leader to bootstrap the community is therefore essential, decentralization in that aspect comes naturally with time.

Improvement 2

People love periodic updates from their favorite leaders, algorand has none of that (at least not in a structured way). John should be making monthly progress update videos on what's going on with the tech in foundation (algokit, metamask etc), Jess should do the same for marketing. Algorand inc should ofc do the same for tech side. That way people would have a way to follow algorand's progress in a nice and quick way (nowadays you need to follow many twitter accounts, watch interviews etc), so similar to how cardano has their 360. There are several advantages of this:

  • it creates hype and periodic expectations

  • listener feels like an important part of the community (it simulates a 1 on 1 conversation so the listener feels like the information has been made for him, which is true, and it makes him feel great)

  • continuous stream of progress/news information

  • people gain trust and get more attached to the project

This would help algo way more than bicycles, drones, chess or similar things combined and for far less money.

Improvement 3

The AMA's need improvement. I'm following quite a bit of algorand people on Twitter and I always miss the time to ask questions (I'm guessing that either the message is not spread enough or the window for questions is too short). So far I've only seen reddit AMA's, which are fine, but video interaction is what creates bonds between algorand team and algorand community (explained above). To me it currently feels like algorand team and algorand community are two disconnected groups.

Improvement 4

Algorand Inc and Algorand Foundation should, from time to time, offer themselves to join a podcast/show of people who put the most amount of work and deliver quality material to the algorand community. This can be seen as a reward from the algorand team to algorand promoters (and community as a whole since the result is a public video) which would encourage them to continue delivering quality material and also build bonds and a feel of appreciation. I believe John did that once and I remember content creator really appreciating it (the viewers also appreciate such gestures).

I'm a tech person who loves algorand because to me it seems like it's the best smart contract platform, so I'll keep supporting it. The reality is that 99.9% of cryptocurrency community don't understand the basics of blockchain tech (they shouldn't have to!) and without offering them periodic structured videos of progress/goals they have no reason to join algorand and no bond is created for people to stay in it.

These are not facts, it's just my current view on what can be improved. I apologize if you think like reading this wall was a waste of your time.

Lastly, I think algorand community mostly consists of very nice people - probably because it's still small but who cares, kudos to all of you. Go Algorand!

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Posted by10 days ago

Like many people here, I’m upset with the price. Algorand has been one of the worst cryptos the past few months. And yes, I do feel some regret buying it.

I tried to “do my own research” and picked one alt coin to invest in. I decided on Algorand because of the amazing tech, promising partnerships, and super smooth user experience. The problem is: none of that matters! All that matters is network effects/community and Big Money. And both of those are basically impossible to predict. We don’t know which alt coin or meme coin will gather a massive community and take off. And we don’t know which coin some billionaire will decide to back next. All we can do is speculate which coin could get support…and it is honestly gambling. Coins in the top 50 are likely much safer than micro cap coins in the top 500, but it’s still just guessing which one will do best.

Thankfully my largest positions are in BTC and ETH. Those already have network effects, Big Money, and community so there is no guessing required. But picking alt coins is simply a gamble at this point.

Will Algorand bounce back? Yeah probably if there is another bull run. Even mostly dead coins did a solid 2 or 3x last run. So many of us could break even if we hold. But we may not get any kind of moonshot like we would if we picked other alt coins.

I hope I’m wrong and algo takes off someday. I am sticking with algo for the rest of 2023 and I’m comfortable with that risk. But after that it’s btc and eth only for me.

Despite my regret of betting on the wrong horse, I’ve come to a level of acceptance though. I made a bet and it doesn’t appear to have worked out. Thankfully I haven’t lose more than I can afford to lose and it’s certainly been a learning experience.

Cheers all 🍻

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Posted by26 days ago

6000+ tps, high decentralisation, high security. Has Algorand solved the trilemma? From the marketing you would think so, but does it actually live up to the hype? In this post I’ll go through the advantages and disadvantages of Algorand.

(I call “participation nodes”, “validators” throughout the post because outside of the Algorand ecosystem, “validator” is the more recognised term for a staking node)


Advantages
Speed

On average, Algorand blocks times are under 4 seconds which is incredibly quick. Even if you increase the number of validators in the network it would still be able to maintain this speed making it more impressive.

Potentially highly decentralised consensus

Other protocols that use a similar consensus method to Algorand tend to be less decentralised as when you increase the number of validators involved with consensus, the amount of votes and networking traffic increases exponentially. Algorand uses cryptographic sortitioning to get around this limitation which allows it to have a much more decentralised consensus method.

If you are interested in knowing more about how it works, I have a video explaining it here:

https://youtu.be/HWnewSr_B6k

High throughput

Algorand can do an impressive 6000 tps and are working towards an incredible 46k tps once they implement pipelining.

This high throughput doesn’t just apply to basic transactions. Smart contract transactions also have an impressive throughput predicted to be around 2800 tps for basic swaps. Even Solana apparently only does around 300 tps for swaps on one DEX.

Parallelized

Many in the space believe that in order to be able to process transactions in parallel you need to use the UTXO model, however Algorand (and Solana) have managed to find a way to do parallel processing with the account model as well.

When you create an Algorand transaction you have to state which pieces of state your transaction will interact with. Now validators will know which transactions touch the same pieces of state so can process them on the same core of the processor and have other transactions that don’t touch the same state processed on other cores.

Low fees

Having such high throughput allows Algorand to have incredibly low fees. The minimum fee for normal transactions is just 0.001 Algo which at current prices ($0.165314) is just $0.000165314.

Spam/Dust protected

Many projects that have low fees become prone to spam and dust attacks. Algorand has protections in place to make these types of attacks unreasonably costly.

For spam protection, Algorand has implemented a congestion fee so that if someone tries to congest the network with spam, the fee will increase making it more costly for them to spam. It also has a set of relay nodes who filter out any invalid transactions so that the validators aren’t burdened with them.

For dust protection, Algorand requires every address to have a minimum of 0.1 Algo meaning you can’t just split up an Algo token into its smallest decimal and send it to trillion of addresses to create state bloat. It also requires and additional 0.1 Algo for every asset (like NFT’s) the user owns. This also limits state bloat from users creating trillions of assets.

Limited supply

Algorand has a max supply of 10,000,000,000 Algo tokens which it will hit in 2030.

This gives it good tokenomics for potentially being a store of value once the initial distribution of tokens is over.


Whilst the advantages are amazing, nothing is perfect. Here are the disadvantages:

Disadvantages
Permissioned centralised Relay nodes

One of, if not the biggest reason why Algorand is able to have such high performance is because the validators don’t have to handle network traffic. Instead Algorand has a set of highly powerful relay nodes set up and validators offload networking to the relay nodes.

These relay nodes require beefy machines and large amounts of bandwidth. They are expensive to run so limits how many people can afford to run them which limits decentralisation.

Currently people running relay nodes are given large rewards in the form of newly minted Algo tokens. Whilst technically anyone can run a relay node, you only get the rewards and are added to the relay node list if you are approved by the Algorand foundation which essentially makes them permissioned.

People underplay how much influence they have in the network because they aren’t directly involved with consensus. However they are indirectly involved as they could choose to not relay blocks or transactions that they don’t like to indirectly prevent consensus happening on certain blocks or transactions.

Prone to Censorship

A lot of trouble was caused on Ethereum when Tornado cash was banned by the US treasury and many validators started following OFAC compliance by not including Tornado cash transactions in their blocks. However ultimately no transactions were censored because there were enough independent validators who didn’t follow OFAC rules and included the Tornado cash transactions.

If Tornado cash was on Algorand, it’s pretty likely that most Relay nodes would simply not relay any blocks that contained Tornado cash transactions to validators. You only need 26% of validators to not receive a block for consensus to not be reached so you don’t even need a majority of Relay nodes to cause censorship on Algorand.

Using high powered hardware is inevitable in order to scale, however if you do use it, you should have a back up option that is more decentralised in case the powerful nodes collude and censor. Algorand doesn’t have this for Relay nodes.

Lack of long term incentives for Relay nodes

Relay nodes are essentially the backbone of the network and cost a lot to run. The cost is high enough that people can’t afford to run them voluntarily. Despite this, after 2030, Algorand will hit its max supply and will no longer be able to provide rewards for running relay nodes. Will people continue to run them without these rewards?

There are talks of funding relay nodes through fees but Algorands fees are tiny and it would require the network running at almost full throttle continuously to generate enough fees to cover the costs of the relay nodes.

No longer easy to run validators or nodes

Previously, the requirements for running an Algorand validator or node were fairly lightweight and you could easily run one on a cheap Raspberry Pi.

Now you need an 8 core CPU and a 1 GB/s connection with low latency. These are approaching data centre specs and are no longer accessible for the average user.

Extremely poor distribution

Almost all Algo tokens went to the team and insiders. Algorand has one of the worst token distributions in the space. Only 0.05% went to the public.

Lack of incentive to stake

Despite staking no longer being easy from the increased validator requirements, there is no reward for staking with Algorand. This has led to the situation where very few people are staking.

They did previously offer a temporary reward to stake which initially got people to do it but since they removed the reward, the number of validators has dropped.

Previously, when there was an incentive, over 80% of Algo tokens were staked, now it’s just 34%. By not offering an incentive, Algorand is sacrificing security.

Even the founder Silvio Micali has said:

“We must use incentives as a last resort. I believe I can [make Algorand work without incentives], but I have no formal proof that I can, because these formal proofs are much harder than the proofs for Algorand“

Also, seeing as the initial distribution of Algo was very poor, the 34% may just be a few entities as well. It’s hard to find data on the distribution of the stake.

No adoption

Despite having strong connections with many businesses, being able to support massive throughput at fast speeds and having a well known brand within the space, no one is using Algorand.

It can be speculated that it’s because of the poor distribution leading to no strong community of early adopters. Even for the early adopters the price has not done well leading to some bitterness from the community.

I was initially going to add another disadvantage of being prone to state bloat because any chain with high throughput will be prone to state bloat. However, the adoption isn’t there so state bloat isn’t an immediate issue. Algorand also has state sharding in their longer term roadmap as a potential solution anyway.

Lower robustness

Percentage of voting power required for liveness:

  • Longest chain: 51%

  • Classic BFT: 67%

  • Algorand: 75%

  • Avalanche: 80%

It’s not as bad as Avalanche, but Algorand has less robustness than most other cryptocurrencies. Due to introducing randomness to the Classic BFT model, they had to increase the liveness requirements in case an attacker was randomly given a high percentage of the subsample for a block.

Algorand Foundation wasting money

To many it looks like the Algorand Foundation have just been throwing money away by doing things like sponsoring a Drone Racing League $100 million over 5 years. At the time of the sponsorship, the Drone League was worth $200 million. This sort of thing puts people off buying Algo as buying Algo indirectly funds the Algorand Foundation wasting this money.


Conclusion

Algorand is on a ticking timer until 2030 when it will hit its max supply and no new tokens will be minted. By this point it will need to have enough adoption so that it can generate enough fees to subsidize the costs of relay nodes. Hopefully it finds a way to incentivise people running normal validators as well.

Whilst the cryptography may be good, the crypto-economics of Algorand are poor. It only has 7 years to fix this.

It also can’t really claim high decentralisation anymore if it requires normal validators and nodes to have a 1GB/s internet connection. This puts it more in competition with Solana, Sui and Aptos than more decentralised cryptocurrencies like Ethereum or Cardano.

Solana is faster, has more adoption, has a bigger ecosystem and a more accessible smart contract language whilst having a similar throughput and fees. Aptos and Sui are the hyped up newcomers with similar specs and lots of VC backing. The Algorand foundation needs to find a way to attract developers over these other projects so it can build its own ecosystem and create adoption.

Personally I would wait and see when it comes to Algorand. If by 2030 it has created a more sustainable model that provides enough incentives for people running the underlying infrastructure and built up significantly more adoption, it may be worth investing in. For now though, it seems like the price won’t go anywhere due to the foundation and relay nodes constantly selling so other tokens are a better investment in the mean time.


I intend to make a post like this for all the major L1's so subscribe to my substack if you are interested https://altexplainer.substack.com/

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