Price and Dominance Charts: Algorand

In today's blog, I will be looking at a coin named "Algorand". The Algorand blockchain has received attention from crypto influencers and analysts recently.  So the questions are what is Algorand? Why is it receiving a lot of attention? And what does the data show?


What is Algorand?

Algorand's website claims that Algorand is the "The Blockchain for FutureFi".  They site caims that "Algorand builds technology that accelerates the convergence between decentralized & traditional finance by enabling the simple creation of next generation financial products. Algorand is unleashing scalability, fusing TradFi x DeFi, and accelerating global sustainability."


Who Are the Founders of Algorand? (From CoinMarketCap)

Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world.




What Makes Algorand Unique? (From CoinMarketCap)

Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is designed so that there are lower transaction fees, as well as no mining (like Bitcoin's energy-intensive process), as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol.


Price and Dominance Charts























Correlation Matrix






Comments

Post a Comment

Popular posts from this blog

Coingecko Error: Exceded Rate Limit

Image
Bad news again today! I received an error message from CoinGecko for exceeding the rate limit.  I have reduced my daily request from 10,000 cryptos to 5,000 cryptos, and -after some time- I still received an error message.   I have now reduced my request to 2,500 cryptos.  I believe that my error messages are a result of downloading a large number of cryptos in a 24-hour period. Hopefully, my smaller sample size will overcome this problem.
Read more

Reducing my request from Conigecko

I have now reduced my request to 1,000 cryptos per day.  I believe that my error messages are a result of downloading a large number of cryptos in a 24-hour period over a number of days. Hopefully, my smaller sample size will overcome this problem.
Read more

Is Solana dead? Thoughts from ChatGPT.

  Many people think that Solana is dead because of the numerous network outages.  Is Solana dead?  Let's ask ChatCPT.... Q : Why does Solana still keep having problems with its network? ChatGPT: While Solana is designed to be a high-performance and scalable blockchain platform, it has experienced several network issues in the past. Some of the reasons for these problems include: 1) Network congestion: As more applications and users have joined the Solana network, the network has become congested, leading to delays and slower transaction processing times. This has resulted in higher fees and increased the risk of network congestion-related issues. 2) Centralization of network validators: The Solana network currently relies on a limited number of validators, which are responsible for validating transactions and maintaining the integrity of the blockchain. This centralization has raised concerns about the security and decentralization of the network, particularly if the...
Read more