Is Algorand the Ethereum killer? $Algo in 2022 🚀 - YouTube

Hi, I'm Olga and welcome you to another video on my channel!

Today i want to talk to you about the Algorand project, which in the last year has grown

by over 140% and at this point is ranked among the top cryptocurrencies.

The total value locked in algorand's DeFi protocols which as a metric tvl has also gone

up by over 2 000 since just june of last year - So as you can see, it is really worth taking

a look at this project.

Leave a thumb up and let's get started!

In today's video we'll talk about what ALGO is, the options it offers, the mobile wallet

created by Algorand, tokenomics, and other important stuff.

Algorand is one of a number of newer projects seeking to expand the possible use cases for

cryptocurrency by accelerating transaction speeds and reducing the time it takes transactions

to be deemed final on its network.

Officially launching in 2019, Algorand seeks to achieve these attributes through decisions

that deviate from how cryptocurrencies have traditionally been designed.

Most notable is that Algorand distributes the ALGO cryptocurrency it introduces into

its economy with each new block to everyone who holds a certain amount of the currency

in its wallets.

Algorand further enables users to create smart contracts and tokens that can represent both

new and existing assets.

Algorand is a new public blockchain, meaning its technology, while novel, has not yet seen

much testing under real-world market conditions.

Users may find the ALGO cryptocurrency valuable should they believe Algrorand’s technical

specifics will make it likely to be the blockchain of choice for developers who want to design

and launch new kinds of decentralized applications.

Investors may also see Algorand as a viable part of a cryptocurrency portfolio should

they believe that proof-of-stake blockchains, which lower the cost of participating in a

blockchain’s operation, will ultimately prove more successful in the market.

The Algorand Foundation, the non-profit organization overseeing and funding development of the

protocol, says that only 10 billion units of its ALGO cryptocurrency will ever be created.

Algorand maintains a block explorer, which keeps an official count of its circulating

supply.

One of the most important features that algorand has is that it was designed from the start

to be a green blockchain with an emphasis on its environmental effect.

In fact algorand is now one of the world's first carbon negative layer one public blockchains.

It's possible that it's even the first the truth is that these things are kind of hard

to track.

But algorand is right up there with the best of the best as far as this metric goes.

However, Algorand also has other important features and for this reason it's often touted

as being at least potentially the next Solana.

Today an average of 500,000 transactions per day are posted on the Algorand chain and more

than 500 companies are busy developing applications on Algorand taking advantage of its unique

layer one smart contracts.

And all this is happening because 2022 is supposed to be a massive upgrade year for

Algorand.

First of all the TPS the transactions per second are going to grow from 1000 to 46 000

transactions per second.

If it's able to achieve this algo could easily surpass Solana which is delivering a TPS of

1290 at the time of this recording and is also facing crashes due to DDoS attacks.

All of this means algorand could emphasis on could become a go-to platform for DeFi

development and its TVL which is already up again two thousand percent.

That looks like it could just continue to skyrocket if all of these other variables

line up.

And what's interesting about algorand is that it has its own virtual machine called AVM.

This allows the development of more powerful smart contracts by supporting sophisticated

dapps in a fast secure cost-effective and scalable way.

And with these updates coming the dapps are at least as far as we can see gonna be even

faster.

The AVM, the algorand virtual machine will make it easier for newcomers to develop programs

atop the chain.

Another thing that favors Algorand is that it's designed to support so many different

kinds of assets like fungible, non-fungible, restricted fungible or even restricted non-fungible

and there are more atomic transfers and other things as well.

Okay we've got to talk now about the Algorand wallet.

This is where users can manage their assets while earning rewards and it's available on

iOS and Android.

Now let's move on to the Algo token itself.

As you can see the current price is around $1.25 as of the time I am recording this video,

and the market capitalization is over $8 billion.

Algo had its ATH over 2 years ago at launch, and the price per token was $3.56 at the time.

Algo tokens are available for purchase and trading on major cryptocurrency exchanges

such as Binance and Coinbase.

Let's talk about Algorand in DeFi with 80 million transactions per day, you have 0.001

dollars in ALGO per transaction and zero downtime from mainnet launch.

Taken all together algorand has a purely pos decentralized consensus which makes it perfect

for developing DeFi protocols.

That's why the algorand foundation is putting big efforts into investing in the next generation

of DeFi infrastructure which includes stable coins like USDT.

Yield farming also exists examples such as yieldly are out there or DeFi music NFT lending

platforms like Opulous.

By the way on OG Crypto channel we made a video about this project, so you can check

it out, it is a very interesting project.

In my opinion, Algorand is a very interesting project.

It is really good news that in the world of cryptocurrencies new projects are still appearing,

offering such opportunities.

Share in the comments below this video what next project I should make a video about.

Also let me know what you think about Algorand.

Thank you very much for watching and see you in the next video!