The score reflects the overall worthiness of the blockchain's ecosystem, as determined by regular monitoring and collective reviewing of the ecosystem.
Algorand Protocol Upgrade Introduces State Proofs for Trustless Cross Chain Communication and 5x Faster Performance
Performance score increased due to Uptime.
Protocol Support score decreased due to Email and Slack support.
Add-Ons score increased due to Bridges.
The score depicts the network's performance rating based on metrics like avg TPS, nodes, gas fees, and uptime.
|PERFORMANCE MATRIX||VALUE||MONITORED AT|
|Gas Fee||1,000 microalgos|
|Write Speed||10,909 ms|
|Node Count||1,794 nodes|
|Reddit Total Members Online||188 members|
|Reddit Total Members||69,600 members|
|Discord Total Subscribers Online||2,440 subscribers|
|Discord Total Subscribers||39,794 subscribers|
|Telegram Err||22 err|
|Telegram Ppm||5 ppm|
|Telegram Views Per Post||1,878 views|
|Telegram Total Subscribers Online||1,050 subscribers|
|Telegram Total Subscribers||25,401 subscribers|
The score represents the development support the protocol offers to developers in terms of tools and resources.
he score is derived by considering the documentation support offered by the protocol to help developers better understand the protocol's ecosystem.
The score reflects the protocol's progressiveness in allocating funds to support the developers who are building on top of the blockchain.
50 million USD
The score reflects how equipped is the protocol's ecosystem with add-on tools like code editors, IDEs and security
THIRD PARTY SERVICES
THIRD PARTY SERVICES
The score reflects the protocol's ability to provide third-party services such as Oracle integration, API management, and cloud services.
THIRD PARTY SERVICES
It reflects how well the protocol's support system works in terms of communication tools, DAO rating, development community size, and stack exchange, among other things.
It indicates how widely the protocol has been adopted in the industry, taking into account aspects such as the
number of developers that are using it and the number of transactional values.
The score depicts the protocol's overall responsiveness toward its members in online communities like Discord,
Telegram, Slack, Linkedin, etc.
With blockchain unleashing its potential to drive global transformation, more industries seek to implement blockchain technology in their business. However, the challenges related to scalability, security, and interoperability are still one of the major concerns for second-generation blockchain protocols.
Aiming to solve the prevailing issues of the blockchains, Avalanche offers a fully decentralized, secure and scalable blockchain ecosystem. From building advanced dApps to creating digital assets, everything is possible with Avalanche's high sustainable and economic infrastructure, designed to scale unparalleled growth.
Algorand is a third-generation blockchain protocol and a fully decentralized project, having it's mainnet launched in June 2019. Designed to be a highly sustainable and scalable open-source protocol, Algorand supports the development of enterprise-grade advanced dApps and a wide range of blockchain-powered use cases in its ecosystem. The network further claims to have its focus, particularly on the DeFi industry.
Algorand protocol is enabled by Algorand virtual machine (AVM) that supports powerful smart contracts to streamline the development of sophisticated dApps. Further, with layer-1 capabilities, Algorand facilitates the development of custom blockchains. These layer-1 blockchains deployed on the Algorand ecosystem benefit from Algorand's unique attributes and capabilities like atomic transfers, Algorand standard assets and rekeying approach.
Algorand adopts a permissionless and pure proof-of-stake (PoS) consensus mechanism, achieving high scalability, speed and security. It ensures the fair participation of nodes while completing transactions in seconds.
Key features of Algorand
- Fast, scalable and secure: Avalanche and its layer-1 protocols can handle 1,000TPS, requiring 5 seconds to finalize a transaction.
- Smart signatures: Components containing logic required to sign transactions for signature delegation.
- Reduced risk: Instant settlement and trustless execution of transactions, eliminating the chances of manipulation and tampering.
- Low-cost development: Transaction execution on Algorand requires .001 Algos, which is low compared to major protocols.
- Flexibility: Avalanche supports custom dApps and smart contracts with unique business logic.
Silvio Micali is the founder of Algorand. Micali has been an MIT professor in the electrical engineering and computer science department since 1983, and he is a Turing award winner and cryptography expert. He laid the foundation of Algorand with the vision to introduce the world to a high-performing and technically advanced blockchain protocol with no centralized authority involved.
Popular use cases of Algorand
A launchpad to help enterprises and startups launch their ICOs on crypto projects to raise liquidity and funds and spread awareness among people about new coins and projects.
A futuristic Web3 synchronization license platform or marketplace where musical and visual content creators can connect and collaborate for NFT and metaverse trading purposes.
The official DeFi hub of the Algorand protocol is designed to regulate activities on decentralized exchanges, lending platforms, NFT marketplaces, trading, and more.
What's trending on Avalanche?
Besides defining a roadmap for 2022, Avalance is getting traction with its exciting rewards program and the decentralization of Algorand's governance through DAO. The network seeks to encourage users worldwide to join the ecosystem and contribute to its growth with such offers.