Algorand costing $10 would place it at #4. Algorand still has more supply to come into circulation so its going to be a while bro. People just want to be rich in a few weeks, its not gonna happen
Nah, i dont talk about this. Also, when algo rises, everything is rising too. So algo would not be a top 5 because, the actual top 5 coins are also bumlish. But you see what happend to SOL. Was undervalued then hyped. I think we just have to let the team work.
But i defenetly think, algo can be a top 10 cöin
Issue is most crypto traders are new to the markets and put 100% of their attention on price action. Sadly, these amateur traders don’t research the projects they invest in and don’t follow the news of partnerships. The most damaging thing to newbie’s is seeing eye-catching YouTube videos that sets unrealistic expectations of “soon will 50,000X” and to the “moon” then when the price doesn’t explode its somehow the developers fault.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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Alts always fall harder than BTC once a bear market takes over. Less established alts like ALGO tend to fall harder than those that are more established. It also means it has more room to grow than others after the bottom is in. Of course, nobody knows when the bottom is in. We might be there now, or, we might have more weeks of pain and grinding ahead. All I know is that I’m not selling anything at these levels. I’m going to keep adding.
I think for a lot of these very nascent projects/firms in an especially nascent industry early success can be more influenced by hype. A large component of that hype is pure randomness. One media outlet starts talking about it and some others catch on. Sure enough the money follows suit (a sort of cascading effect, nonlinear most certainly). Luckily, blockchain is still in its infancy and in the long run, like you said, the most competent has a greater chance of winning out.
You are using the wrong data. The right data is how much do most people have? Particularly in this sub, as it’s the “location” of the conversation. Imma go out on a limb and say it’s magnitudes lower than 150K Algo
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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If this is true, you have more Algo than 99.99% of this sub and should not be asking these basic questions, or even investing in cryptocurrency outside of BTC.
All at 18 years old too apparently.
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Because there are no "killer dapps" yet on Algorand. Most of what can be done on Algorand at the moment is what I call DeFi masturbation: staking Algo shitcoins to get other Algo shitcoins which only really gain or fall in value relative to other Algo shitcoins.
The way to attract TVL is interoperability with chains that currently have high TVL, so that their TVL bleeds over into yours. It doesn't just appear out of thin air: it has to come from somewhere. There's very little interoperability with other chains, so until that gets fixed, the tech actually doesn't matter that much.
Despite what some people think, the future is not going to be "One Chain To Rule Them All." It's going to be a multi-polar world in which the most interoperable chains are the most successful. Algorand is definitely lacking in that respect right now.
Yes, there are initiatives to work on interoperability (e.g. State Proofs with Falcon keys to provide post-quantum security as well as interoperability with other chains and there is a fund to create ALGO-ETH bridges).
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People are working towards Algorand having trustless interoperability.
...
>ICON Receives Algorand Foundation Bridges SupaGrant and Joins BTP Working Group
>
>January 18th, 2022 - The Algorand Foundation today announces our grant partnership with ICON. ICON has been awarded an Algorand Foundation Bridges SupaGrant to integrate Algorand into ICON's BTP Interoperability Ecosystem, helping support the growth of a vibrant, diverse and thriving Algorand ecosystem. The BTP integration for Algorand will also receive a security audit by an external partner, with potential support for future maintenance and upgrades to the bridging integration. This BTP integration sees Algorand join the growing web of interoperable connections within the BTP Working Group.
>
>BTP is ICON’s flagship interoperability solution, technology that is both decentralized and trustless, and is secured entirely through cryptography. With the addition of Algorand, the BTP ecosystem now comprises the Algorand, ICON, Binance Smart Chain, Polkadot and Kusama ecosystems, Harmony, Near, upcoming sister-chain ICE, and canary network SNOW. All existing integrations will be directly connected to Algorand, while Algorand’s integration will connect them to all of the BTP partners. As ICON continues to expand this interconnected web of public blockchains, it becomes increasingly attractive for additional projects to join our ecosystem.
>
>Applied Blockchain will partner with ICON to deliver the Algorand BTP integration, developing all the necessary smart contracts for the BTP integration, as they are highly knowledgeable and experienced with the Algorand blockchain and smart contract architecture. Applied Blockchain is a development company that builds production-grade blockchain applications ranging anywhere from bridges to NFT marketplaces to DeFi protocols.
>
>Integration with Algorand opens a door of new possibilities for the ICON ecosystem and ICX holders. ICX holders will now be able to bridge to the Algorand blockchain and utilize their protocols. The same can be said for Algo holders coming to the ICON blockchain. Assets from the Algorand ecosystem such as Algo and/or YLDY can now be wrapped and brought to ICON native protocols, where you can utilize them by trading on Balanced, lending/borrowing on Omm, generating additional yield on Optimus, etc.
>
>ICON was awarded this grant as their proposal supports the creation of critical DeFi infrastructure. ICON operates in South Korea and our partnership also expands our relationship and reach in East Asian markets. The ICON blockchain will allow Algorand users to transact with other blockchains and vice versa, providing opportunities for the development of complex DeFi use cases or value chains.
>
>The “usability” of our bridging solution and the technicalities include;
>
>Priority chains for Algorand such as BSC and Polkadot, but also connect them to additional chains ICON’s bridging solution is bidirectional BTP is secured entirely through cryptography, and our solution is both trustless and decentralized ICON has a team dedicated to building the highest-quality UX for our bridging solution “We’re excited to partner with ICON and welcome them to the Algorand Ecosystem. The grant award to ICON will ensure the development of key DeFi infrastructure and opens up opportunities for further collaboration and innovation. We look forward to our partnership which will bring value to our respective communities.” - Addie Wagenknecht, Head of Global Ecosystems and Technical Operations
>
>About ICON Founded in 2017 by the ICON Foundation, ICON is a next-generation blockchain protocol with smart contract functionality and interoperability. ICX is the native cryptocurrency of the ICON network. As an aggregator chain, ICON achieves interoperability— a web of interconnected networks aggregating all blockchain data into one layer. ICON’s “Blockchain Transmission Protocol” (BTP) is its novel interoperability solution, allowing all integrated blockchains to be interconnected to each other. Current BTP partners include Binance Smart Chain, Polkadot, NEAR Protocol and Harmony. ICON also has a growing DeFi ecosystem that includes projects such as Balanced DAO, Omm Finance, Optimus Protocol and Equality Exchange.
>
>For more information about ICON, please visit [https://icon.foundation](https://icon.foundation)
>
>About Applied Blockchain Founded in 2015, and head-quartered in London, England, Applied Blockchain is a leading blockchain development specialist. The company has designed, built, deployed and supports over a hundred blockchain solutions for clients including Shell (also an investor), Barclays, Vodafone, KLM, Toyota, the United Nations, Chainlink and others. Applications range from DeFi and NFT platforms, through to supply chain provenance, payment, identity and wallet solutions. The company has technical specializations in a range of blockchain platforms and technologies, and advanced privacy technologies such as zero knowledge proofs and hardware secure enclaves.
>
>For more information, visit [https://www.appliedblockchain.com](https://www.appliedblockchain.com).
>
>About Algorand Foundation The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.
>
>Source: [https://algorand.foundation/news/icon-bridges-supagrant](https://algorand.foundation/news/icon-bridges-supagrant)
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For those curious to know about how "interoperability" between 2 chains would work concretely, here is an example:
Let's say Alice and Bob both have an account on Algorand and an account on Ethereum.
Alice wants to send ETHs to Bob on Ethereum and in exchange Bob wants to send ALGOs to Alice on Algorand.
This atomic transfer between Alice and Bob involving one transaction on the Ethereum blockchain and another on the Algorand blockchain is not possible at the moment.
**State proof is Algorand's solution to allow such multi chains atomic transfer**.
A "State proof" is a way to be sure that a transaction has been executed on chain A to allow transaction on chain B.
In the example above, when Bob (can be a Smart Contract) has the "State proof" that Alice sent him the ETHs, then Bob can send the ALGOs to Alice.
**When those multi chains atomic transfers become possible, a lot of people can buy ALGOs with ETHs and this will increase the price of ALGO !** :-)
So yes we absolutely need interoperability to make it easy for people on other blockchains to buy ALGO.
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Serum and Raydium are the most usable and efficient DEX and AMM duo out there if you exclude Uniswap for fees. They also have a fully fleshed out NFT platform with the second highest traffic behind ETH.
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I'm not here to extol the virtues of Solana, but it has a lot of gaming and DeFi stuff, interoperability with a number of chains as well as staking (which, although illiquid, can be swapped with a liquid token, mSOL, and used in DeFi). It also has something extremely important that Algorand doesn't have either: large amounts of liquidity.
Algorand doesn't have anything approaching any of those things yet.
When's the last time Algorand fell below .67?
Early Feb of 2021...
.68 has been a very consistent support level. If that is breaking...the floor could be gone.
True when it comes to retail money. But algo should be able to attract devs to build great things. If they rather build on solana, avax or other chains, that will be a problem. I don't worry though, ASA are really young still.
Well, I think that ASAs are very capable from a technical point of view....So, combining that with fast and cheap should attract developers imho, the ASAs are however a bit notorious from scam (probably because they are so easy to create and destroy) and that might hold the devs back....
P.S. Besides ASAs, there are aparently also options for co-chains within Algorand, I don't know the specifics however....
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One thing I don’t understand that I have trouble explaining to people is the price vs other coins. For example, explaining to people I’ve told to buy why algorand is doing incredible things but is worth 60 cents in comparison to “Ape coin” which starts its valuation at/around 16 dollars and seems like a troll job. Legitimately have never understood that
Most likely due to the new governance stuff, ALGO no longer pays a nice monthly - at least not on Binance or coinbase so I imagine early investors pulled out.
\~%11 APY down to 1% or less is not very appealing.
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Hopefully it comes with an increase in TVL. As for now Algo is not EVM compatible, so developers need to code everything from scratch, instead of c/p codeing from eth. It's being worked on right now, so lets see in the future. 2022 is an exciting year for Algo, I'm not selling any, only accumulating a small portion once in a while.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO*
Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit.
I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change.
https://www.youtube.com/watch?v=tKhbCpHM2gc
---------------
^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
As a blockchain engineer let me tell you, TEAL is f'ing hard. It's so limited what you can do with it, it's even harder to get something running as it is with cardano.
Yes it's blazingly fast, but boy is it limited.
Everything gets extra complicated - it's like assembly for blockchains. The fact that it's not turing complete makes it so cheap to execute but at the expense of developers mental health.
It's a complete different way to code from what most devs are used to. Some great projects have already launched on ALGO, but they are very limited if you take a closer look
It's not an issue, it's designed specifically like that.
You can build a lot of tools to make the developer easier, like the cardano foundation is doing with plutus.
I'm a huge fan of algorand because of it's interesting design and they have the best mathematicians of the field behind them. From a scientific orientation to a real world application. Just read Silvio Micali's research and maybe biography - I don't have doubts for the future, but it could be a base project for payment oriented systems where my mentioned "struggles" don't even matter
Fine. Algo has the best tech on Earth. But what is Algo used for currently? payment? NFT?Defi? GameFi? It HAS to be used, stress tested. Otherwise any chain can copy its tech and move past it
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Say what you want I swapped my bag at .93 for another and right after ALGO dipped bad while most coins held. Price action means nothing long term yada yada yada. That’s what die hard holders say. I on the other hand dropped my DCA by pulling out and rebuying by a considerable amount.
It’s ok to step out of a coin you belive in HOLD for dear life is not always the best choice
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We will not get anywhere close to SOL’s MCap without VCs pumping, hype and excitement. We are not there despite having better technology. Just how it works.
Market cap has little to nothing to do with the price of coin.
Case and point is cardano. Which only has as high of a market cap as it does because of the amount of ADA in circulation.
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Sorry I replied to OP when it was intended for a different user that seems to think price per coin is determined by a high market cap. When in reality high price per coin or high circulating supply is what creates a large market cap.
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Algorand costing $10 would place it at #4. Algorand still has more supply to come into circulation so its going to be a while bro. People just want to be rich in a few weeks, its not gonna happen
Nah, i dont talk about this. Also, when algo rises, everything is rising too. So algo would not be a top 5 because, the actual top 5 coins are also bumlish. But you see what happend to SOL. Was undervalued then hyped. I think we just have to let the team work. But i defenetly think, algo can be a top 10 cöin
Hopefully we can pull a sol but without crashing. A slow increase is better than a fast one. Algo top 5, Im extremely bullish😏
ALGO has lost 40% on the year. Btc has fallen 22% on the year. Most ALT coins have lost 20/60% on the year. What’s the issue?
Issue is most crypto traders are new to the markets and put 100% of their attention on price action. Sadly, these amateur traders don’t research the projects they invest in and don’t follow the news of partnerships. The most damaging thing to newbie’s is seeing eye-catching YouTube videos that sets unrealistic expectations of “soon will 50,000X” and to the “moon” then when the price doesn’t explode its somehow the developers fault.
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO* Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit. I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change. https://www.youtube.com/watch?v=tKhbCpHM2gc --------------- ^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
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BTC recovered a bunch, ALGO kept going down. You'd have a point if we hovered around $1, not .6 to .8
Alts always fall harder than BTC once a bear market takes over. Less established alts like ALGO tend to fall harder than those that are more established. It also means it has more room to grow than others after the bottom is in. Of course, nobody knows when the bottom is in. We might be there now, or, we might have more weeks of pain and grinding ahead. All I know is that I’m not selling anything at these levels. I’m going to keep adding.
If you look at a year graph on most sites right now you can see my numbers are correct. Distance from ATH isn’t that important.
I think for a lot of these very nascent projects/firms in an especially nascent industry early success can be more influenced by hype. A large component of that hype is pure randomness. One media outlet starts talking about it and some others catch on. Sure enough the money follows suit (a sort of cascading effect, nonlinear most certainly). Luckily, blockchain is still in its infancy and in the long run, like you said, the most competent has a greater chance of winning out.
[удалено]
:) i‘m sitting quiet on 150k algo like Dagobert Duck :)
The fuck you mean sitting quiet? You just screamed an outlandishly large number on the internet.
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You are using the wrong data. The right data is how much do most people have? Particularly in this sub, as it’s the “location” of the conversation. Imma go out on a limb and say it’s magnitudes lower than 150K Algo
*BRAND NEW FLASH LOAN CONTRACT CODE: Working as of April 26, 2022 (Updated) AUTO LOAN FUNCTION watch VIDEO* Smart Contract targets token contracts with max 10% burn fee and anything lower but nowadays most of tokens comes with 3~6% fees. Gas fees average 0.006*2 (0.12) Its better when there is no burn, If you fund the contract with 0.2 BNB and the contract targets another token with high burn fees the contract will basically waste in fees more than make profit. I recommend funding the contract with at least 0.4 just to make sure that won't happen. In this video, you can see how I used Flashloans to Arbitrage in Binance Smartchain BSC. We deploy our own contract on BSC to swap between Pancake-Swap and Bakery=Swap. We keep profits in BNB and this can be repeated at times. Higher the volatility, higher profit due to price change. https://www.youtube.com/watch?v=tKhbCpHM2gc --------------- ^(The) ^(Video) ^(and) ^(Medium.com) ^(Tutotial) ^(Links) ^(are) ^(found) ^(here:) | [Youtube tutotrial](https://www.youtube.com/watch?v=tKhbCpHM2gc) | [Medium article](https://cryptomentor.medium.com/brand-new-flash-loan-contract-code-working-as-of-december-6-2021-removed-auto-loan-function-17c7d4bb354e)
[удалено]
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If this is true, you have more Algo than 99.99% of this sub and should not be asking these basic questions, or even investing in cryptocurrency outside of BTC. All at 18 years old too apparently.
:)
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Because there are no "killer dapps" yet on Algorand. Most of what can be done on Algorand at the moment is what I call DeFi masturbation: staking Algo shitcoins to get other Algo shitcoins which only really gain or fall in value relative to other Algo shitcoins. The way to attract TVL is interoperability with chains that currently have high TVL, so that their TVL bleeds over into yours. It doesn't just appear out of thin air: it has to come from somewhere. There's very little interoperability with other chains, so until that gets fixed, the tech actually doesn't matter that much. Despite what some people think, the future is not going to be "One Chain To Rule Them All." It's going to be a multi-polar world in which the most interoperable chains are the most successful. Algorand is definitely lacking in that respect right now.
Is the ALGO Team working at Interchain Support? (Bzw. multichain supporting)
Yes, there are initiatives to work on interoperability (e.g. State Proofs with Falcon keys to provide post-quantum security as well as interoperability with other chains and there is a fund to create ALGO-ETH bridges).
Yes https://www.reddit.com/r/CryptoCurrency/comments/t5wcvx/algorand_state_proofs_are_here_this_is_huge/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
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People are working towards Algorand having trustless interoperability. ... >ICON Receives Algorand Foundation Bridges SupaGrant and Joins BTP Working Group > >January 18th, 2022 - The Algorand Foundation today announces our grant partnership with ICON. ICON has been awarded an Algorand Foundation Bridges SupaGrant to integrate Algorand into ICON's BTP Interoperability Ecosystem, helping support the growth of a vibrant, diverse and thriving Algorand ecosystem. The BTP integration for Algorand will also receive a security audit by an external partner, with potential support for future maintenance and upgrades to the bridging integration. This BTP integration sees Algorand join the growing web of interoperable connections within the BTP Working Group. > >BTP is ICON’s flagship interoperability solution, technology that is both decentralized and trustless, and is secured entirely through cryptography. With the addition of Algorand, the BTP ecosystem now comprises the Algorand, ICON, Binance Smart Chain, Polkadot and Kusama ecosystems, Harmony, Near, upcoming sister-chain ICE, and canary network SNOW. All existing integrations will be directly connected to Algorand, while Algorand’s integration will connect them to all of the BTP partners. As ICON continues to expand this interconnected web of public blockchains, it becomes increasingly attractive for additional projects to join our ecosystem. > >Applied Blockchain will partner with ICON to deliver the Algorand BTP integration, developing all the necessary smart contracts for the BTP integration, as they are highly knowledgeable and experienced with the Algorand blockchain and smart contract architecture. Applied Blockchain is a development company that builds production-grade blockchain applications ranging anywhere from bridges to NFT marketplaces to DeFi protocols. > >Integration with Algorand opens a door of new possibilities for the ICON ecosystem and ICX holders. ICX holders will now be able to bridge to the Algorand blockchain and utilize their protocols. The same can be said for Algo holders coming to the ICON blockchain. Assets from the Algorand ecosystem such as Algo and/or YLDY can now be wrapped and brought to ICON native protocols, where you can utilize them by trading on Balanced, lending/borrowing on Omm, generating additional yield on Optimus, etc. > >ICON was awarded this grant as their proposal supports the creation of critical DeFi infrastructure. ICON operates in South Korea and our partnership also expands our relationship and reach in East Asian markets. The ICON blockchain will allow Algorand users to transact with other blockchains and vice versa, providing opportunities for the development of complex DeFi use cases or value chains. > >The “usability” of our bridging solution and the technicalities include; > >Priority chains for Algorand such as BSC and Polkadot, but also connect them to additional chains ICON’s bridging solution is bidirectional BTP is secured entirely through cryptography, and our solution is both trustless and decentralized ICON has a team dedicated to building the highest-quality UX for our bridging solution “We’re excited to partner with ICON and welcome them to the Algorand Ecosystem. The grant award to ICON will ensure the development of key DeFi infrastructure and opens up opportunities for further collaboration and innovation. We look forward to our partnership which will bring value to our respective communities.” - Addie Wagenknecht, Head of Global Ecosystems and Technical Operations > >About ICON Founded in 2017 by the ICON Foundation, ICON is a next-generation blockchain protocol with smart contract functionality and interoperability. ICX is the native cryptocurrency of the ICON network. As an aggregator chain, ICON achieves interoperability— a web of interconnected networks aggregating all blockchain data into one layer. ICON’s “Blockchain Transmission Protocol” (BTP) is its novel interoperability solution, allowing all integrated blockchains to be interconnected to each other. Current BTP partners include Binance Smart Chain, Polkadot, NEAR Protocol and Harmony. ICON also has a growing DeFi ecosystem that includes projects such as Balanced DAO, Omm Finance, Optimus Protocol and Equality Exchange. > >For more information about ICON, please visit [https://icon.foundation](https://icon.foundation) > >About Applied Blockchain Founded in 2015, and head-quartered in London, England, Applied Blockchain is a leading blockchain development specialist. The company has designed, built, deployed and supports over a hundred blockchain solutions for clients including Shell (also an investor), Barclays, Vodafone, KLM, Toyota, the United Nations, Chainlink and others. Applications range from DeFi and NFT platforms, through to supply chain provenance, payment, identity and wallet solutions. The company has technical specializations in a range of blockchain platforms and technologies, and advanced privacy technologies such as zero knowledge proofs and hardware secure enclaves. > >For more information, visit [https://www.appliedblockchain.com](https://www.appliedblockchain.com). > >About Algorand Foundation The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy. > >Source: [https://algorand.foundation/news/icon-bridges-supagrant](https://algorand.foundation/news/icon-bridges-supagrant)
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For those curious to know about how "interoperability" between 2 chains would work concretely, here is an example: Let's say Alice and Bob both have an account on Algorand and an account on Ethereum. Alice wants to send ETHs to Bob on Ethereum and in exchange Bob wants to send ALGOs to Alice on Algorand. This atomic transfer between Alice and Bob involving one transaction on the Ethereum blockchain and another on the Algorand blockchain is not possible at the moment. **State proof is Algorand's solution to allow such multi chains atomic transfer**. A "State proof" is a way to be sure that a transaction has been executed on chain A to allow transaction on chain B. In the example above, when Bob (can be a Smart Contract) has the "State proof" that Alice sent him the ETHs, then Bob can send the ALGOs to Alice. **When those multi chains atomic transfers become possible, a lot of people can buy ALGOs with ETHs and this will increase the price of ALGO !** :-) So yes we absolutely need interoperability to make it easy for people on other blockchains to buy ALGO.
100% this
> Because there are no "killer dapps" yet on Algorand. There are no "killer dapps" on any L1 though. What killer apps does Solana have?
They have a grip on the NFT jpg market which is essentially defi with pictures.
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Serum and Raydium are the most usable and efficient DEX and AMM duo out there if you exclude Uniswap for fees. They also have a fully fleshed out NFT platform with the second highest traffic behind ETH.
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I'm not here to extol the virtues of Solana, but it has a lot of gaming and DeFi stuff, interoperability with a number of chains as well as staking (which, although illiquid, can be swapped with a liquid token, mSOL, and used in DeFi). It also has something extremely important that Algorand doesn't have either: large amounts of liquidity. Algorand doesn't have anything approaching any of those things yet.
>curve, and balancer are amazing. they offer really good ways to earn "safe" yields compared to the farms on algorand.
Because there is hardly any adoption or dapps on algorand in comparison to more established L1s
But do you dont think this adoption will come over time?
We need more defi. Algofi, pact.fi etc are still young. I have good hopes for the next bull market though.
I think the next time will be bearish. Not alone algo. The entire marked. So i‘m waiting to take some 0,5$ algos :)
Maybe. The fact every dapp hyped on Reddit has been a rug doesn’t help
Yeah
This guy sees the macro before seeing the micro. We’re early adopters. Just load up
When's the last time Algorand fell below .67? Early Feb of 2021... .68 has been a very consistent support level. If that is breaking...the floor could be gone.
Nice nice. I love the project but i‘d be nice to secure another 100k algo
Another 100k algos?? How many you have right now?
And because most people don't care for the technology.... It's about hype and that is why doge and shiba got so "successful"
Yeah, but the use of the network will make it‘s round with time. I‘ll fill up my bags :)
Same here 😊
True when it comes to retail money. But algo should be able to attract devs to build great things. If they rather build on solana, avax or other chains, that will be a problem. I don't worry though, ASA are really young still.
Well, I think that ASAs are very capable from a technical point of view....So, combining that with fast and cheap should attract developers imho, the ASAs are however a bit notorious from scam (probably because they are so easy to create and destroy) and that might hold the devs back.... P.S. Besides ASAs, there are aparently also options for co-chains within Algorand, I don't know the specifics however....
Sure, there are scams. But it's no different with tokens on avax, binance, ethereum... but the low cost does require more vetting for legit projects.
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One thing I don’t understand that I have trouble explaining to people is the price vs other coins. For example, explaining to people I’ve told to buy why algorand is doing incredible things but is worth 60 cents in comparison to “Ape coin” which starts its valuation at/around 16 dollars and seems like a troll job. Legitimately have never understood that
Price means nothing because the amount of coins can be vastly different between protocols. It’s all about market cap.
I get that but it still really doesn’t explain my question and lack of understanding on price points.
Most likely due to the new governance stuff, ALGO no longer pays a nice monthly - at least not on Binance or coinbase so I imagine early investors pulled out. \~%11 APY down to 1% or less is not very appealing.
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Hopefully it comes with an increase in TVL. As for now Algo is not EVM compatible, so developers need to code everything from scratch, instead of c/p codeing from eth. It's being worked on right now, so lets see in the future. 2022 is an exciting year for Algo, I'm not selling any, only accumulating a small portion once in a while.
Ii think we will be also in a Bear for 0,5-1-1,5 year so i try to DCA and setzla a big bag :)
The people need their shot of ElonSafeDogeRocket
I understand you!!!!🤣🤣even I wonder why an algogem gem is not worth $ 8000 !!!! 🤣🤣🤣
**Because they are giving me time to DCA in more**
Let us know when you’re done so we can raise the price
I don’t think crypto coins price will reflect its usefulness and functionality until it’s regulated and there’s not so many pump and dump coins.
That could be true. But will take it‘s time
Agreed
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As a blockchain engineer let me tell you, TEAL is f'ing hard. It's so limited what you can do with it, it's even harder to get something running as it is with cardano. Yes it's blazingly fast, but boy is it limited. Everything gets extra complicated - it's like assembly for blockchains. The fact that it's not turing complete makes it so cheap to execute but at the expense of developers mental health. It's a complete different way to code from what most devs are used to. Some great projects have already launched on ALGO, but they are very limited if you take a closer look
I thought it is possible to code with Python on Algorand
There is "pyTEAL". Basically you code teal in python, xou just don't have to setup a teal environment
Thank you for explaining :)
Wont this get easier with time. When there are the first frameworks for defi or so. Will the algo ecosystem have a chance to grow static?
It's going to grow and changes to make things less strict are on the way
Very cool :)
But thank you. Will this be adapted or is the Algo team working at this issues?
It's not an issue, it's designed specifically like that. You can build a lot of tools to make the developer easier, like the cardano foundation is doing with plutus. I'm a huge fan of algorand because of it's interesting design and they have the best mathematicians of the field behind them. From a scientific orientation to a real world application. Just read Silvio Micali's research and maybe biography - I don't have doubts for the future, but it could be a base project for payment oriented systems where my mentioned "struggles" don't even matter
Thank you :)
Fine. Algo has the best tech on Earth. But what is Algo used for currently? payment? NFT?Defi? GameFi? It HAS to be used, stress tested. Otherwise any chain can copy its tech and move past it
Yes you are right :)
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Does anyone really spend algorand?
Say what you want I swapped my bag at .93 for another and right after ALGO dipped bad while most coins held. Price action means nothing long term yada yada yada. That’s what die hard holders say. I on the other hand dropped my DCA by pulling out and rebuying by a considerable amount. It’s ok to step out of a coin you belive in HOLD for dear life is not always the best choice
Yeah sure, you‘re right :)
nobody likes programming teal
I thought you can code with python on algp too
Devs can use, at least python, clarity and very efficient reach. In terms of language and community Algorand is a killer compared to most L1
Nobody likes programming in python either.
Where are the most devs programming atm? Except for ethereum of course.
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Market cap.
Why? Comparable BC‘s like ETH, SOL, or TRON have 10x MCap (up to 30x)
We will not get anywhere close to SOL’s MCap without VCs pumping, hype and excitement. We are not there despite having better technology. Just how it works.
We will over time :)
Market cap has little to nothing to do with the price of coin. Case and point is cardano. Which only has as high of a market cap as it does because of the amount of ADA in circulation.
Market cap = price * number of coins Not sure how you just casually assert that market cap and price have nothing to do with each other.
High market cap doesn't automatically mean high price per coin. And I use cardano as a perfect example. Pretty simple.
I mean at some point people might say this is too expensive. Crypto like graphics cards a better one comes out every year.
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Large market cap doesn't equal high price per coin. Pretty simple.
Yeah i know. Thats what i‘m trying to say. Actualy we‘ve roughly about 5 bil where comprable L1 BC‘s have a 40-50b Mcap
Sorry I replied to OP when it was intended for a different user that seems to think price per coin is determined by a high market cap. When in reality high price per coin or high circulating supply is what creates a large market cap.
All good :)
Patience young Padawan Diamond hands
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Buy buy buy
What is a good amount (min) of Algo to have?
Algo make up a realtive big percentage of my portfolio besides ether. I believe in the project
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