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TECHNOLOGYAlgorand has settled over 11,000,000 transactions in the last 7 days, averaging 1,600,000 per day. Zero down time in three years and transaction costs of 1/8th of a penny. 6,000,000 new Algorand addresses have been created since December. Huge things happening on Algorand. (self.CryptoCurrency)

submitted by gigabyteIOPermabanned

The latest upgrades:

  • Smart contract compatibility with contract to contract calls.  This allows complex dApps to be built that can efficiently and trustlessly interact with other smart contract based dApps to extend functionality and usability.  Additional details and background on this tech can be found here. 
  • Post-quantum secure Falcon Keys, Algorand’s first major milestone on its path towards trustless cross-chain interoperability.  These keys will, in the near future, be used to generate State Proofs, a new blockchain infrastructure that will allow Algorand to be trustlessly accessed in low-power environments like mobile phones, smart watches, and on other blockchains. For more background on State Proofs, please see an overview here. 

Developers are now able to build complex dapps for the Algorand ecosystem with smart contract-to-contract calling and network participants can take their first step towards trustless cross-chain interoperability with quantum-secure keys for the upcoming State Proof technology. These network upgrades come on the heels of a $20 million incentive program from the Algorand Foundation focused on developer tooling and EVM compatibility, putting Algorand at the forefront of blockchain interoperability and post-quantum security while providing features for even more advanced decentralized applications. 

These features add to Algorand’s already advanced tech, high performance and robust developer resources. Smart contracts on Algorand can be written in Python or Reach, making it accessible for developers of all skillsets. 

Algorand has experienced zero downtime since launch, helping it become the blockchain of choice for hundreds of organizations launching DeFi protocols, NFTs, payment solutions, regulated digital assets, and more. The network supports applications that can scale to billions of participants, all on a high-speed, carbon-negative, secure and stable blockchain. 

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[–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 338 points339 points  (84 children)

I think ALGO is the current love child of this sub

[–][deleted] 125 points126 points  (37 children)

This sub will always love algo.

[–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 105 points106 points  (18 children)

“Always”. Like my wife will always love me or like my dog will always love me? Because there’s a difference

[–][deleted] 7 points8 points  (0 children)

A doge is a man's best friend

[–]OneofmanyshadesPlatinum | QC: CC 59 4 points5 points  (1 child)

This sub is Algorand's dog?

[–]chuloreddit 6 points7 points  (0 children)

Always, till the next coin shows up

[–]meeleen223 6 points7 points  (2 children)

I think ALGO and get some

[–][deleted] 5 points6 points  (0 children)

Ada boy.

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      [–]CryptoLyrics 6 points7 points  (1 child)

      True, the Italian Medallion gets plenty of polish here, but news like this show it's well deserved.

      [–]RipresaPermabanned 2 points3 points  (0 children)

      🤌🏼🤌🏼🤌🏼🤌🏼🤌🏼🇮🇹🍕

      [–]Omega3568Silver | QC: CC 364, BTC 136 | SHIB 37 | r/WSB 24 1 point2 points  (6 children)

      Used to VET :(

      [–]grrgrrtigergrrBronze | Superstonk 393 2 points3 points  (4 children)

      I hold both. VET will rise again… I hope

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        [–]TREYisRADBronze | REQ 6 6 points7 points  (8 children)

        https://i.imgur.com/0mtWmIL.jpg

        imagine missing the entire bull market holding this 🥴

        [–]mitchz101Platinum | QC: ALGO 17 4 points5 points  (7 children)

        Thsts not the algo op means

        [–]ImNoRatAndYouKnowItPlatinum | QC: CC 38 4 points5 points  (1 child)

        It has been for a long time, and its shillers are annoying af. The best part about the overall bad market was the constant algo circle jerking in comments finally slowed a little.

        [–]4206996420 11 points12 points  (0 children)

        Not true. Was often considered a bad coin because of its “tokenomics” last year

        [–]BakedPotato840Banned 2 points3 points  (0 children)

        ALGO doodle my noodle while thinking about Algorand

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          [–]bombaclat131Banned 46 points47 points  (5 children)

          Algorand and tinyman show how easy it is to interact with that blockchain

          [–]DemuanBronze | ExchSubs 10 7 points8 points  (1 child)

          Take a look at all the ASAs. Trippled my algo with them

          [–]lovemesomefood 4 points5 points  (1 child)

          Just makes me sad about yieldly :(

          [–]watch-nerd 1 point2 points  (0 children)

          Why sad?

          There are more DeFi options now to choose from, many of which are better than Yieldly

          Competition is good

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            [–]Pma2kdotaPlatinum | QC: CC 516 48 points49 points  (12 children)

            not trying to poop on your algo parade but....

            just a technical question, isn't an algorand address created for every user on every exchange when they list the coin? And for every multi-chain wallet , like Exodus, every user has a default Algo address (and other supported coin address) for deposits.

            so, how is this "6 million new addresses created since december" metric relevant?

            it doesn't prove that each address is in use and it doesn't prove there are users actively engaging in the network either.

            [–]nu_hash6 - 7 years account age. 88 - 175 comment karma. 22 points23 points  (0 children)

            An address needs a minimum balance of 0.1 Algos to be counted as active.

            [–]j4k3b 18 points19 points  (1 child)

            Has to be holding something to be counted.

            [–]Ncookiez 5 points6 points  (3 children)

            You're right in that it is not a very relevant stat. I can sit at my computer or write a bot to create wallets every second and that doesn't mean much.

            Just wanted to comment that it is unlikely an exchange uses a separate wallet for every user. Large exchanges have cold wallets and hot wallets, and their user's balances are just numbers on a database. They use funds in hot wallets only when necessary (withdrawals), and pull from cold wallets for large amounts.

            TLDR: Don't use centralized exchanges if you want to actually own crypto.

            [–]j4k3b 8 points9 points  (1 child)

            It is relevant. Generating an account with a bot doesnt write anything to the block chain. There are costs to write to the chain.

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              [–]koenafyrBronze 1 point2 points  (0 children)

              Yeah, the 'new addresses' talking point has been seriously overstated. There are so many other interesting things about algo that it doesn't even need to be mentioned in the same breath.

              [–]peterkrull 0 points1 point  (0 children)

              This is true. I never understood why the accounts metric is pushed so often. Using the AlgoSDK for python, it is fairly easy to create and fund as many addresses as you'd like, even for fairly cheap. Hundreds every second if you feel like it.

              I did this once to test out participating in governance using many different accounts to lower the risk of lost rewards. It worked well and cost very little, but the accounts metric will definitely get screwed with that kind of stuff.

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                [–][deleted] 76 points77 points  (7 children)

                I love Algorand.... One of my main investments and the performance of the blockchain is absolutely rock solid. Can't wait to see it keep growing and fleshing out the ecosystem and marketing now to match.

                I'm unreasonably excited about receiving Tinyman tokens now that they've become one of the few DEXes in the history of crypto to actually follow through on compensating their users after an exploit. And they didn't do anything sleazy like churn up a special private shit coin and then 'compensate' their users with that instead - they did it with cold, hard ALGOs.

                [–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 31 points32 points  (1 child)

                Tinyman handled that exploit like true gentlemen. A masterclass on customer service

                [–][deleted] 15 points16 points  (0 children)

                Beyond the shadow of a doubt. Their post-mortem was textbook, exactly what you want to see in that unfortunate event.

                [–]gigabyteIOPermabanned[S] 18 points19 points  (0 children)

                It's an exciting time to watch Algorand grow, so many great minds working on it.

                [–]PsieSyrenki 1 point2 points  (1 child)

                Happy Cake Day!!!

                Have some 🌕 for your adventure

                [–][deleted] 1 point2 points  (0 children)

                Thanks! 🙂

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                  [–]HerbysBreadLoafTin 23 points24 points  (3 children)

                  Algo shills are back out in force

                  [–]IovahBronze | r/WSB 20 2 points3 points  (1 child)

                  They lost a lot of money at Yieldly and Tinyman and Algo price crashing hard. They somehow have to sell their bags to r/cc.

                  Honestly, Algo had 2 Defi dapps and both of them are a shitshow. Ease of use or transaction speed is kinda a joke when there is nothing to interact with.

                  I only lost money on Algo, thank god I only put in a small amount to try Defi apps. Both of them failed, hard.

                  [–]spicymayoisamazballsPlatinum | QC: ALGO 50, CC 30 4 points5 points  (0 children)

                  Take a look at AlgoFi. Swapping, lending, and staking.

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                    [–]deathbyfish13 73 points74 points  (8 children)

                    I'm starting to think this ALGO might be good after all.....

                    [–]Stunning_Ordinary548Tin 31 points32 points  (4 children)

                    Algo bueno

                    [–]PinguinaUshuaiaJast HOLD 12 points13 points  (2 children)

                    Algo muy bueno

                    [–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 3 points4 points  (1 child)

                    Algo mas? No? Ok, we’re done here

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                        [–]teh_d3ac0nBanned 59 points60 points  (5 children)

                        Is it shill-my-bag-Friday?

                        [–]LemarIsNotTakenTin 51 points52 points  (1 child)

                        Budget for bots has been increased

                        [–]princepersona1 86 points87 points  (26 children)

                        ALGO is gonna do massive things. It's one of my largest holdings right now

                        [–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 180 points181 points  (4 children)

                        Reads first sentence

                        “Hmmm, I wonder why? I’ll keep reading to find out!”

                        Reads second sentence

                        “Oh now I get it”

                        [–]spongebobmoonPlatinum | QC: CC 144 12 points13 points  (0 children)

                        My largest holdings do bad. Good thing algo is a small part of my portfolio.

                        [–]pinkculturePlatinum | QC: CC 286 7 points8 points  (1 child)

                        Rule 1 of r/cc: Assume everyone is a shiller

                        [–]umjustpassingbyTin 4 points5 points  (0 children)

                        Rule 1 of r/cc: Assume everyone is a shiller

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                          [–]kansas_slimSilver | QC: CC 58, ETH 45, ALGO 38 | LRC 58 | PoliticalHumor 90 19 points20 points  (17 children)

                          Algorand is inevitable. Sleeping giant.

                          [–][deleted] 12 points13 points  (5 children)

                          I bought some algo around $2, but feel like I won't regret this decision

                          [–]kansas_slimSilver | QC: CC 58, ETH 45, ALGO 38 | LRC 58 | PoliticalHumor 90 8 points9 points  (2 children)

                          No way. Ever since I discovered my homie Micali and ALGO I’ve been averaging up and down the roller coaster.

                          [–][deleted] 4 points5 points  (1 child)

                          I still have time before it reaches 1 dollar. Before this run, I made the mistake of selling algo, hence why I ended up buying at around $2. I needed to just stake the algo in the wallet.

                          [–]Bucksaway03 1 point2 points  (0 children)

                          Keep buying and average down while you can.

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                            [–]SxQuadroPlatinum | QC: CC 304, ETH 182 | TraderSubs 182 0 points1 point  (0 children)

                            That guy will be very surprised if he holds long enough.

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                              [–]active_ate 0 points1 point  (0 children)

                              And still cheap!

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                                [–]php_questionsPlatinum | QC: BCH 98, SOL 72, CC 57 | ADA 17 | Android 51 31 points32 points  (56 children)

                                1,600,000 transactions per day = around 18 TPS.

                                No offense, but that's not really impressive considering we need real scaling solutions for something like 100k TPS - 1 million tps

                                [–][deleted] 23 points24 points  (20 children)

                                I mean, that's the tps it's doing, not what it's capable of which is far, far higher.

                                [–]php_questionsPlatinum | QC: BCH 98, SOL 72, CC 57 | ADA 17 | Android 51 4 points5 points  (19 children)

                                that's true, but it can handle approx 1k TPS.

                                ​

                                That's still 100x-1000x away from the "real" scaling solutions we are looking for.

                                And what do you think will happen when you try to increase the TPS by 100x? The node requirements will explode, are you sure that there will still be no downtime or any problems? How many nodes will be left if you try to increase the TPS by 100x?

                                ​

                                My point is that its just not really impressive at the moment.

                                [–]notyourbroguyPlatinum | QC: ALGO 196, CC 111 | Pers.Fin. 42 6 points7 points  (18 children)

                                How many other chains are you aware of that currently process more transactions than Ethereum?

                                [–]SpacesiderPlatinum | QC: CC 199, ETH 39, BTC 18 | TraderSubs 41 5 points6 points  (0 children)

                                All the ones I know of are way more centralised.

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                                  [–]SpacesiderPlatinum | QC: CC 199, ETH 39, BTC 18 | TraderSubs 41 1 point2 points  (11 children)

                                  It's not at all impressive given that they also went with the consensus choice of DPoS which increases TPS at the cost of making the chain more centralised.

                                  I know, they have created their own term for their consensus model which is "PPoS", but it inherits its properties from DPoS and not PoS like the term might suggest.

                                  [–]Remarkable_Break_709Tin 1 point2 points  (10 children)

                                  In which way is DPoS similar to PPoS?

                                  [–]gigabyteIOPermabanned[S] 0 points1 point  (21 children)

                                  ETH has been averaging 1.2 million transactions per day over the last week.

                                  [–]php_questionsPlatinum | QC: BCH 98, SOL 72, CC 57 | ADA 17 | Android 51 10 points11 points  (19 children)

                                  exactly, the layer 1 solution created in 2015 (?) which does not scale almost does the same TPS as algorand.

                                  Not impressive at all

                                  [–]gigabyteIOPermabanned[S] 1 point2 points  (18 children)

                                  Algorand currently supports 1000+ TPS and is upgrading to 10,000 TPS and 2.5s finality very soon.

                                  Ethereum is the #1 smart contract blockchain with the #2 market cap, everything is compared against ETH.

                                  [–]php_questionsPlatinum | QC: BCH 98, SOL 72, CC 57 | ADA 17 | Android 51 11 points12 points  (17 children)

                                  How is it gaslightning? Everyone knows that ethereum fees are a huge problem and that's why everyone is looking forward to their scaling solution.

                                  ​

                                  It's like comparing algorand against bitcoin and saying "but look, it can handle twice as many transactions as bitcoin"

                                  So what? that's not something impressive at all.

                                  ​

                                  Also, even if algorand goes to 10k tps (10x increase) that's nothing compared to the 100k that ethereum plans to do.

                                  ​

                                  And what about the node requirements? Its easy to say "algo will go to 10k tps soon" but what about the node requirements? Are they going to up 10x too? Then you have a real decentralization and stability issue (just like solana)

                                  ​

                                  So once again, its unfortunately not very impressive.

                                  [–]Naki111 5 points6 points  (16 children)

                                  The node requiremwnts for 10k are the same as they are now the 46k tps upgrade will require relay nodes to have higher requirements but participation nodes that vote on consensus will be same as now.

                                  [–]php_questionsPlatinum | QC: BCH 98, SOL 72, CC 57 | ADA 17 | Android 51 3 points4 points  (15 children)

                                  no offense but ill believe it when I see it.

                                  You cant tell me that going from 1k tps to 50k tps isn't going to significantly change the node requirements.

                                  ​

                                  And if they really dont change that much, then how come it cant handle 46k TPS already?

                                  ​

                                  I am vey skeptical, so I believe it when I see it, first step is 10k TPS, but this has been delayed according to them.

                                  [–]Naki111 7 points8 points  (14 children)

                                  First step is 10k which they have said will not increase node requirements second step is 46k which they have said will increase node requirements.

                                  Requirements for nodes and clutter of chain is significantly lower than avax solana or any of competing chains and is expected to stay this way even for relays.

                                  But consensus participation node requirements will never increase becauae of how algorand works they will always work on a raspberri pi

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                                      [–]CymandeTV 31 points32 points  (16 children)

                                      And don't forget their governance! The staking rewards are also juicy.

                                      [–]ultimaclaw 11 points12 points  (0 children)

                                      Wish they kept the non-governance staking reward though. Missed seeing the number going up in real time.

                                      [–]gigabyteIOPermabanned[S] 16 points17 points  (9 children)

                                      3rd Governance signup begins March 31st!

                                      [–]lovemesomefood 1 point2 points  (0 children)

                                      Thanks for the reminder!

                                      [–]thehugejackedmanTin 2 points3 points  (7 children)

                                      How / where do we do this? Is there a guide somewhere

                                      [–]AllThingsEvil 5 points6 points  (0 children)

                                      If you use the official wallet it will notify you and direct you to sign up when the time comes

                                      [–]gigabyteIOPermabanned[S] 9 points10 points  (0 children)

                                      Overview of governance(there is a guide under the "Becoming a Governer heading"): https://algorand.foundation/governance

                                      Governance portal: https://governance.algorand.foundation/governance-period-3

                                      [–]JonathanPerdarderSilver | QC: CC 256, ALGO 94 | VET 45 1 point2 points  (4 children)

                                      Consider doing governance thru the AlgoFi Vault, as well. Obviously more risky, but it will allow you to borrow against your ALGO in governance without hindering governance rewards. Going to be a big thing, imo.

                                      [–]ILoveDonutsaLotTin | 5 months old 4 points5 points  (3 children)

                                      This. You could even deposit your BTC and ETH, borrow ALGO, put that in governance, and deposit those governance Algo back for more gains and collateral, while being safe from liquidation. Now you have indirect interest on your BTC and ETH, without any lock ups (though you will loose out on your government rewards if you spend that Algo)

                                      [–]thehugejackedmanTin 1 point2 points  (1 child)

                                      Maybe I’m reading wrong but it says borrow rate is around 5% and staking apr is 4.8% so you’d lose to that deal?

                                      [–]ILoveDonutsaLotTin | 5 months old 2 points3 points  (0 children)

                                      Not sure what numbers you are looking at. First you get rewarded for supplying your GoBTC about 2.3%.
                                      Then you borrow let's say 50% of your collateral in ALGO, at the moment the rate minus rewards is about 0.7%. Let's subtract that from your 2.3% Supply rewards, and you are left with 2.3% minus (half of 0.7%) = 1.95 % rewards for supplying BTC and borrowing 50% of your collateral in ALGO.
                                      Now we put that ALGO in governance and get let's say 10% APR (I think it will be less, but that's the current reward)
                                      Again, we only borrowed half of our collateral so it's effectively 5% APR.
                                      Since we put the Governance in the ALGOFI vault, we are at no risk of liquidation, since the ALGO we borrowed is right there as collateral. We might even get some more supply rewards (at the moment 2.5 % for ALG, which again we need to divide by 2). So we would net about 1.95%+5%+1.25%=8.2% on your bitcoin.
                                      From here on we could borrow even more, maybe some stable coins and supply them back, or put them in a pool. I am guessing you can reach 10% quite easily.
                                      Algofi rewards might reduce in the future though, that's one thing to keep in mind.

                                      [–]JonathanPerdarderSilver | QC: CC 256, ALGO 94 | VET 45 3 points4 points  (0 children)

                                      Interesting thought! I hadn’t considered that. Definitely planning on taking advantage of this opportunity!

                                      [–]they_call_me_tripodPermabanned 8 points9 points  (1 child)

                                      Staking rewards aren’t too juicy anymore, but governance is great

                                      [–]CymandeTV 2 points3 points  (0 children)

                                      Staking for the governance sorry I wasn't clear.

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                                        [–]Davinter30 19 points20 points  (2 children)

                                        ALGO will get under the spotlight, its only a matter of time!

                                        [–]active_ate 5 points6 points  (0 children)

                                        We love it here, just need the rest of the world to catch up.

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                                          [–]deathtoluckyPlatinum | QC: CC 1008, ETH 26 | TraderSubs 26 20 points21 points  (3 children)

                                          Their handling of the Tinyman exploit made a ALGO lover out of me

                                          [–]gigabyteIOPermabanned[S] 16 points17 points  (1 child)

                                          Honestly, that is a case study that will be taught at business schools. They dealt with it so well and now they're compensating everyone as we speak. They built incredible brand loyalty, that is how you build trust.

                                          [–]gingerthingyPlatinum | QC: ALGO 101, CC 100 4 points5 points  (0 children)

                                          Same with Lofty. We had an issue with a bad property manager in one state, they fired them and got a new one. They then made us whole for the rent until we found a new tenant. Most of the staples on Algo are incredibly professional and really refreshing in this space

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                                            [–]Nixher 2 points3 points  (0 children)

                                            Aww I remember when we talked about Cardano like this. Algorand, see you at the bottom in a year buddy.

                                            [–]kindoflikesnowingPlatinum | QC: CC 70 12 points13 points  (27 children)

                                            Amount of transactions doesnt always equate monster adoption.

                                            For example, is the majority of network transactions just staking the native token? Is demand for block space just staking transactions?

                                            This can greatly increase the number of transactions on the network.

                                            Anyone can create a new address, so its hard to tell whether these are new users or existing users.

                                            [–]notyourbroguyPlatinum | QC: ALGO 196, CC 111 | Pers.Fin. 42 7 points8 points  (25 children)

                                            It’s not like Solana. The transactions are actual on-chain activity. The recent uptick in wallet creation was largely Vitalpass in Colombia who is tracking vaccinations.

                                            [–]Naki111 6 points7 points  (24 children)

                                            Solana txs are not on chain activity there majority consensus messages overinflating activity by a magnitude of 10

                                            [–]notyourbroguyPlatinum | QC: ALGO 196, CC 111 | Pers.Fin. 42 6 points7 points  (0 children)

                                            My point exactly

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                                                [–]sylverreineTin 12 points13 points  (5 children)

                                                I guess I have to dyor and add algo to my portfolio..

                                                [–]Ncookiez 11 points12 points  (8 children)

                                                Reality: There are almost no dapps on Algorand because the developer tooling is not there yet, the smart contract language and framework is incredibly difficult to get started with, and there is no cross compatibility with any of the other networks that have already solved those problems.

                                                It's going to take a long time for those to become available since almost all developers can currently build just-as-good dapps on other networks with much more financial incentive and a larger userbase to pull from, and have a much easier time doing it.

                                                Not having a smart contract language based on JavaScript was a terrible idea.

                                                [–]olihowellsSilver | QC: CC 313, ETH 18 | NANO 209 22 points23 points  (4 children)

                                                Lmk when ALGO is decentralised

                                                [–]ReadHumanCompatibleTin | 6 months old 1 point2 points  (0 children)

                                                Let me know when any blockchain infrastructure is fully decentralized and run by everyone’s personal computers. Never gonna happen. It’s the same rehash of the dreams of Web 1, where everyone thought they were gonna own their own servers. We all ended up as clients because that was most efficient at reaching a competitive edge. The main idea here is that no one wants to run their own servers. They’re loud and expensive and there has to be a real cost-benefit to them. Developers want reliable systems that can be upgraded quickly, so they turn to systems like AWS. The more decentralized you get the harder it is to implement changes required for competition. As far as my research goes, since Algorand’s Relay Nodes don’t do validation of blocks, they don’t hold power over the transactions, the participation nodes do. It’s highly decentralized, probably the most you can get unfortunately. I’ve researched a lot on whether Algorand is centralized or decentralized and it’s not black and white.

                                                [–]Wubbywub 0 points1 point  (0 children)

                                                the key is to invest in a chain that has 2/3 of the trilemma and has the capability to solve the last 1/3. If you wait till something is already completed then you're already buying the peak

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                                                  [–]Ferdo306 11 points12 points  (2 children)

                                                  State proofs and contract to contract calls sound really interesting

                                                  [–]sporobolus_spTin | CC critic 19 points20 points  (8 children)

                                                  Algorand is very good project! 👍

                                                  [–]they_call_me_tripodPermabanned 8 points9 points  (1 child)

                                                  It really is. It’s one of the few projects I regularly dca into.

                                                  [–][deleted] 6 points7 points  (1 child)

                                                  Algo get some right now.

                                                  [–]active_ate 4 points5 points  (0 children)

                                                  Algo with you! Still a deal!

                                                  [–]ProcastinateIsLifePlatinum | QC: CC 133 3 points4 points  (0 children)

                                                  Algoooo

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                                                    [–]TheRealNotaredditorMustard Tiger 3 points4 points  (0 children)

                                                    It's manipulated. I hate to say it. For some reason a major politician whose name I will not mention, holds a big holding in algo. They are lookin to get a price pump and sell before his election campaign starts up in a few months.

                                                    [–]662c63b7ccc16b8cSilver | QC: CC 226 | ADA 362 24 points25 points  (39 children)

                                                    Good project, shame about its permissioned relays and therefore centralized network.

                                                    Will it have all these features OP conveys if/when it becomes decentralized, time will tell.

                                                    [–]gigabyteIOPermabanned[S] 34 points35 points  (13 children)

                                                    Here comes the tribalism and misinformation.

                                                    Algorand is very decentralized and becomes more decentralized the more it grows.

                                                    The Algorand network supports two types of nodes to simultaneously optimize for transaction throughput and decentralization: relay nodes and participation nodes. The difference between these nodes is one of configuration only, not software.

                                                    Relay nodes serve as network hubs and maintain connections to many other nodes. These nodes have high-performance network connections which allow for efficient communication paths, ultimately reducing the number of hops and the transmit time of sending a message throughout the network. Relay nodes decongest noise in the system by accumulating protocol messages from participation nodes and other relay nodes connected to them, performing deduplication, signature checks, and other validation steps and then re-propagating only the valid messages. Relay nodes are also often located at internet exchange points to decrease propagation time. Anyone may run a relay node.

                                                    Participation nodes are running the Algorand consensus protocol, and communicate with each other through relay nodes. Authorized by the user’s participation key, these nodes propose and vote on blocks on behalf of the user’s stake within the consensus algorithm. A single participation node may represent multiple users, provided the appropriate participation keys are installed in it. Anyone can run a participation node, and everyone is encouraged to do so. Participation nodes ensure the security of the Algorand blockchain: As long as enough of them run the consensus protocol honestly, the blockchain is guaranteed to never fork, even if all the relay nodes are compromised.

                                                    To ensure the security of the network, it is necessary to have relay nodes be both diverse and decentralized. Centralization can occur on a number of axes so when launching the network it is critical to avoid concentration in a singular dimension. A number of organizations have volunteered to run relay nodes from network launch. In an effort to ensure true decentralization, these organizations represent a wide array of geographical, technical and political backgrounds, while also offering unique strengths and expertise.

                                                    Geographical distribution is the easiest axis to picture and arguably the most important. Relay nodes must exist in many different countries across different continents. Within these boundaries, they should be located at key internet exchange points in close proximity to most of the world's population and financial centers.

                                                    Learn more about Relay nodes here:

                                                    https://www.algorand.com/technology/algorand-network-architecture

                                                    https://algorand.foundation/algorand-protocol/network

                                                    https://algorand.foundation/news/new-algorand-relay-node-running-pilot-now-live

                                                    https://developer.algorand.org/docs/run-a-node/setup/types/

                                                    [–]662c63b7ccc16b8cSilver | QC: CC 226 | ADA 362 18 points19 points  (11 children)

                                                    Nothing about what you posted contradicts what I posted. I have no disagreement with your posts.

                                                    The issue is that all relays are permissioned by the Algorand Foundation, and that is a point of centralization.

                                                    Thats factual, its not misinformation.

                                                    [–]jekpopulous2 2 points3 points  (0 children)

                                                    This is absolutely correct. There are also no rewards for relay nodes, and thus no incentive for anyone outside of the foundation to run them even if they could do it freely. There’s a lot about Algorand that I like, but the relays are 100% centralized and I don’t see how people can argue otherwise.

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                                                        [–]spicolispizzaPlatinum | QC: CC 327 8 points9 points  (3 children)

                                                        Random weighted selection based on stake is paradoxically superior to the 150k nodes on the ethereum network, because the beacon chains are long lived, whereas the random selections on Algorand vary on both a round and subround basis. That is, there will be block proposers, voters, and vote certifiers that vary randomly based on the outcome of a shared dice roll, and this will vary across every single step in certifying the block.

                                                        Even if you compromised a node that is likely to be a block proposer, the other randomly sampled voters would (with extremely high probability) find a contradiction in that block and refuse to vote for it. Algorand is guaranteed to sample uniformly across all online participation nodes on a sub round basis, which is unique for a blockchain with instant finality. Ethereum needs to resort to slashing because what it literally does is make one node the king of the hill, and resorts to punishing that node if its misbehaves. Algorand doesn't need to do that because it uses a Byzantine Agreement that ensures >2/3 of the nodes are honest. Before publishing a block, it first ensures that the majority of the network believes that block is final and immutable.

                                                        Algorand is unique because it is the only blockchain that guarantees the following invariant:

                                                        (1) Either an adversary owns >= 1/3 of the tokens

                                                        OR

                                                        (2) the network will never fork, and instead produce an empty block until it can reconcile its state

                                                        Credit to: https://np.reddit.com/r/AlgorandOfficial/comments/nkkftg/how_decentralised_is_algorand/gzdjd89?utm_medium=android_app&utm_source=share&context=3

                                                        [–]DingDongWhoDis 2 points3 points  (4 children)

                                                        Let's not mention the participation nodes handle consensus.

                                                        [–]believeinapathySilver | QC: CC 393, ETH 207, CM 42 | ADA 70 | TraderSubs 111 6 points7 points  (3 children)

                                                        I mean, why do they downvote a literal fact? I guess someone's trying to hide it.

                                                        [–][deleted] 0 points1 point  (2 children)

                                                        Because it isn't a fact...

                                                        [–]believeinapathySilver | QC: CC 393, ETH 207, CM 42 | ADA 70 | TraderSubs 111 23 points24 points  (1 child)

                                                        It literally is though... There's only 100 relay nodes and they're permissioned, and you have to ASK Algorand for permission to run one. This isn't even hidden, they openly admit it.

                                                        [–]gigabyteIOPermabanned[S] 8 points9 points  (0 children)

                                                        What he is getting at is you aren't understanding Algorands concensus mechanism Pure Proof of Stake which is unique and novel in the whole of the blockchain space. There is nothing else like it. I suggest reading a bit about it:

                                                        https://www.algorand.com/technology/algorand-protocol

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                                                          [–]Kindly-Ad-3367Tin 4 points5 points  (1 child)

                                                          I love everything about algo.

                                                          [–]hummirBronze 5 points6 points  (0 children)

                                                          My MySQL database can do a lot more transactions, for cheaper.

                                                          [–]xmjke21xSilver | QC: CC 40 | LRC 42 | ExchSubs 12 14 points15 points  (28 children)

                                                          TL;DR. Buy Algorand. It’s solid! 👌

                                                          [–]gigabyteIOPermabanned[S] 17 points18 points  (17 children)

                                                          El Salvador banks use wrapped Bitcoin on Algorand. Colombia is building it's medical infrastructure on Algorand. AXA XL, the U.S. subsidiary of AXA S.A., the world's third-largest insurer, is working with Algorand on an art insurance platform (money for your art). It has real tangible use cases by governments and large corporations.

                                                          [–]MadManD3vi0us 7 points8 points  (13 children)

                                                          goBTC is actually pretty cool. All the value of Bitcoin with all the speed of Algorand.

                                                          [–][deleted] 0 points1 point  (11 children)

                                                          You have to trust algomint though....I'll pass after their awful 'incentive' program rollout.

                                                          [–]MadManD3vi0us 4 points5 points  (10 children)

                                                          You can get it by trading on Tinyman, without minting on algomint.

                                                          [–][deleted] 1 point2 points  (5 children)

                                                          You can, but think what's going to happen to the value of goBTC on Algorand if AlgoMint is ever hacked or their vault is breached or any number of other things....

                                                          It will become painfully clear that it is not actually BTC and its value will drop. I wouldn't risk that for a company that has already demonstrated incompetence.

                                                          [–]ILoveDonutsaLotTin | 5 months old 1 point2 points  (1 child)

                                                          Is Algomint (and their custodian) the only entity that can exchange GoBTC (and GoEth) for BTC (ETH)? This has worried me too. I want to deposit more BTC into the Algo ecosystem, but this seems like a single point of failure. It would be better if more platforms offered this service and GoBTC and GoEth itself became more decentralized.

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                                                            [–]StrangerWithin 0 points1 point  (3 children)

                                                            didnt tinyman get hacked?

                                                            [–]MadManD3vi0us 4 points5 points  (0 children)

                                                            Sorta. Someone found a bug and exploited it, and then it got patched. But unlike every other time this has happened to a new service, Tinyman is actually compensating everyone who was hurt.

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                                                                  [–]deathbyfish13 5 points6 points  (6 children)

                                                                  Step 1: Buy ALGO
                                                                  Step 2: ???
                                                                  Step 3: Profit

                                                                  The secret? There is no Step 2

                                                                  [–]xmjke21xSilver | QC: CC 40 | LRC 42 | ExchSubs 12 3 points4 points  (4 children)

                                                                  Honestly I’m waiting for more ALGO use-cases. Love the low transaction, can’t wait to go to a bar and be able to pay for my beer with my CC wallet. For now… step 2 = stake, participate in governance

                                                                  [–]gigabyteIOPermabanned[S] 4 points5 points  (3 children)

                                                                  https://www.algorand.com/ecosystem

                                                                  There is tons of use cases already with more coming pretty much daily.

                                                                  [–]active_ate 2 points3 points  (0 children)

                                                                  Step 2: become a guvnuh

                                                                  [–][deleted] 1 point2 points  (0 children)

                                                                  Algo is a solid choice. It's doing great things

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                                                                    [–]PoRChiGaiTin | CC critic 8 points9 points  (1 child)

                                                                    Rule of thumb Is to never listen to the shills of this biased sub

                                                                    Last yr was algo vet LTO etc

                                                                    Shoulddve just bought bnb and solana in 2021 guys lmao

                                                                    [–]tuffkixTin 1 point2 points  (0 children)

                                                                    Gonna have to get in on this Algo!

                                                                    [–]tyranicalteabaggerPlatinum | QC: ETH 57, CC 36, GPUmining 32 | MiningSubs 81 1 point2 points  (0 children)

                                                                    What's the concensus and node mechanism. If it's highly centralized, these numbers don't matter.

                                                                    [–]topcatjdm 1 point2 points  (0 children)

                                                                    Continuing to build my ALGO bag. Still bullish for ALGO

                                                                    [–]slipcovergl 1 point2 points  (0 children)

                                                                    As time goes by, Algorand’s superiority gets more and more visible. This, in turn, accelerates ecosystem growth and investor interest. I’m pretty sure Algorand will shine all through 2022.

                                                                    [–]LostAngelesTypeGold | QC: ALGO 24 1 point2 points  (0 children)

                                                                    So the Transaction per second (TPS) works out to be 1,100 whereas Ethereum has a TPS rated at 12 to15.

                                                                    [–]Diesel7390Tin 12 points13 points  (3 children)

                                                                    Welcome to the new episode of daily shill

                                                                    [–]metnavmanAlgo! 4 points5 points  (1 child)

                                                                    Currently Hosting Presenting the Ultra Music Festival in Miami!

                                                                    [–]Radioactive_Isot0peTin 3 points4 points  (0 children)

                                                                    Just checked the price. Didn't realize we were under a dollar.

                                                                    Spends all money on Algo

                                                                    [–]JuanOnlyJuan 2 points3 points  (3 children)

                                                                    I dropped it after the APY went to shit

                                                                    [–]LiftSmashTin 2 points3 points  (1 child)

                                                                    Lost a lot of interest in Algorand when the CB APY dropped to 0.45. Probably because I haven't bothered to figure out how to do governance shit.

                                                                    [–]nugymmerSilver | QC: CC 157, BTC 32 | IOTA 62 | TraderSubs 34 2 points3 points  (0 children)

                                                                    Owning some is never a bad idea. But never expect miracles.

                                                                    [–]inminitSilver | QC: CC 131, UNI 17 | ADA 96 | TraderSubs 12 3 points4 points  (1 child)

                                                                    I've tried staking and DeFi platform on Algorand chain and I must say, they are great. Everything is smooth and cheap. Even when there was an attack on the pool I was in, the play from tried to resolve and reimburse it.

                                                                    I think Algorand will thrive!

                                                                    [–]FledgelingSilver | QC: CC 22 | r/CMS 11 | r/WSB 44 1 point2 points  (0 children)

                                                                    Doesn't it also have several highly centralized choke points that allow these speeds? If I wanted fast I wouldn't use crypto, pure TPS numbers don't really mean all that much without a larger context.

                                                                    [–]International-Fun485Tin | CC critic 3 points4 points  (0 children)

                                                                    I'm very bullish on ALGO

                                                                    [–]excalilbugPlatinum | QC: CC 602 1 point2 points  (2 children)

                                                                    Ehat about supply inflation? Is it still so high?

                                                                    [–]notyourbroguyPlatinum | QC: ALGO 196, CC 111 | Pers.Fin. 42 5 points6 points  (0 children)

                                                                    Between 4-7% for the next 8 years then 0%.

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                                                                      [–]userloser11Tin 1 point2 points  (0 children)

                                                                      I really like algo. Im not happy with the change in staking rewards though.

                                                                      [–]newbonsite 3 points4 points  (2 children)

                                                                      ALGO is a coin to watch in 2022 ,one of my favorites so I might be a bit biased ...

                                                                      [–]_Zazu95_Tin | CC critic | ADA 15 2 points3 points  (1 child)

                                                                      This sub is making me bullish on Algo can’t lie..

                                                                      [–]AnotherBrockTin 1 point2 points  (1 child)

                                                                      And I loaded up on it a few months ago hehe

                                                                      [–]Eluchel 1 point2 points  (0 children)

                                                                      I have been really impressed with Algo since I first invested in it

                                                                      [–][deleted] 1 point2 points  (0 children)

                                                                      People always loving ALGO here so I eventually gave it a go. I’m sure the technology is good but as an ecosystem I’ve got no idea why there’s hype around this. It seems to be 99% yield farming hopeless shit coins…

                                                                      [–]raegrogTin 1 point2 points  (0 children)

                                                                      Yieldly fucked me and my algo stack...

                                                                      [–]SxQuadroPlatinum | QC: CC 304, ETH 182 | TraderSubs 182 1 point2 points  (2 children)

                                                                      S W E E T H O P I U M

                                                                      [–]1078GarageRocket emojis will return 0 points1 point  (0 children)

                                                                      [–]YummaySmoohieBronze | NANO 8 1 point2 points  (0 children)

                                                                      When ever this sub like something, its time to dump the bag

                                                                      [–]Amasan89Platinum | QC: CC 277, XRP 47 2 points3 points  (0 children)

                                                                      I don't know if any of you knew but Algorand is the official sponsor of the Ultra Music Festival in Miami thats happening right now. I am not a holder but it is good exposure!

                                                                      [–]nik5016Platinum | QC: CC 83 | Politics 77 1 point2 points  (1 child)

                                                                      ALGO is one of the first projects I ever invested in and I have been hooked ever since. Love Algorand and the entire ecosystem.

                                                                      [–]themostusedwordCrypto Connesssueir 1 point2 points  (0 children)

                                                                      I will never sell my algo

                                                                      [–]Creepy-Nectarine-225Permabanned 0 points1 point  (2 children)

                                                                      Bring back the ALGO shills

                                                                      [–][deleted] 0 points1 point  (1 child)

                                                                      The future of finance.

                                                                      [–]gigabyteIOPermabanned[S] 1 point2 points  (0 children)

                                                                      ​

                                                                      [–]Harold838383 0 points1 point  (0 children)

                                                                      Algo to the moon. Been waiting patiently

                                                                      [–][deleted] 0 points1 point  (3 children)

                                                                      Cool cool cool. What retailers accept it. What partnerships does it have with business. How is it going to facilitate commerce. Oh, it's just a speculative fucking bet that this one, this one, is going to be the one crypto out of the nearly 20k cryptos, 100x as many as there are national currencies in the world, and this one crypto is going to be the one to make it as a stable medium of exchange and also somehow be worth 1000x what you put into it now.

                                                                      How are you all so fucking dumb.

                                                                      [–]crimeo 2 points3 points  (0 children)

                                                                      You know 20k functional PoS coins? Algorand is one of the top few actually using the clearly best protocol already, not just promising it vaguely. Do I think it's the bestest ever, no, it has some big other problems, but being a working, commonly known example of pure PoS alone makes it relevant. It'd be up there in the top 0.1-0.2% of cryptos just from that alone IMO

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                                                                        [–]CurbsideAppealPlatinum | QC: CC 145 | LINK 8 0 points1 point  (1 child)

                                                                        My #1 bag ✅

                                                                        [–]Re_ThomasTin | CC critic | LRC 13 0 points1 point  (1 child)

                                                                        If you didnt learn by now I will tell you again, everyone is here for the money. And the money goes where people invest. Shitcoins/or one of the big 2: ETH or BTC.

                                                                        [–]mikehosekPlatinum | QC: CC 99 | r/WSB 10 0 points1 point  (1 child)

                                                                        On my way to fill my bad some more

                                                                        [–][deleted] 0 points1 point  (0 children)

                                                                        So throw 100k at algo?

                                                                        [–]DaanvannTin 0 points1 point  (0 children)

                                                                        Is this a shill?

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