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| Name | Algorand: What is ALGO's Future Potential?? 🔮 |
| Video Uploader | Video From Coin Bureau |
| Upload Date | This Video Uploaded At 20-09-2020 15:31:22 |
| Video Discription | 🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/ 🏆 My $2.5K Trading Comp & Deals 👉 https://guy.coinbureau.com/deals/ 📲 Coin Bureau Insider Channel 👉 https://t.me/cbinsider 🐦 Follow Our Twitter 👉 https://twitter.com/coinbureau ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ - TIMESTAMPS - 0:00 Intro 1:55 What is Algorand? 3:19 The Blockchain Trilemma 4:45 Current Consensus Protocols 7:45 Algorand Consensus 10:04 Algorand 2.0 12:33 Team & Investors 14:07 ALGO Tokenomics 18:26 Price Potential 20:40 Final Thoughts ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ⛓️ 🔗 Useful Links 🔗 ⛓️ ► Algorand Website: https://www.algorand.com/ ► Algorand Protocol: https://www.algorand.com/what-we-do/technology/algorand-protocol ► ALGO Dynamics: https://algorand.foundation/algo-dynamics ► ALGO Developer Resources: https://developer.algorand.org/ ► Algorand Community Site: https://community.algorand.org/ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 📝 What is Algorand? 📝 It is a scalable, secure and decentralized cryptocurrency and smart contract platform. The main benefit of this is that Algorand's technology finalizes blocks in seconds and provides immediate transaction finality while preventing forks. Furthermore, Algorand offers highly-customizable smart contracts, Asset Tokenization, and Atomic Transfers built directly in Layer-1. They are based in Boston and it was founded by a Turing award winning MIT professor called Silvio Micali. 💭 Blockchain Trilemma 💭 This is the notion that a blockchain cannot scale in a decentralised and secure way. This is the tradeoff that many blockchains may find themselves in as they are often tied together. Blockchains that are currently struggling to scale like this include the likes of Etheruem. 📈 Algorand Consensus 📈 There are currently two different types of consensus mechanisms and these include Proof of Work and Proof of Stake. They both have their own unique challenges which means that it is hard to solve the blockchain trilemma. Proof of Work consensus mechanisms are centralised as there are large mining farms with specialised equipment which can control the network and hence lead to centralisation. dPoS is not an ideal solution either as this means that you have to rely on these block producing nodes to push things forward. Bonded proof of stake is not ideal either as someone who has a lot of money can just accumulate the majority of the tokens and use them in order to vote through their own agenda on the network. The Algorand consensus mechanism is called Pure Proof of Stake and it operates on this simple priniciple: It makes cheating by a minority of the money impossible and cheating by the majority stupid. It also differs with other mechanisms in that the money does not have to be bonded for a particular period of time. Money is always in user's wallets ready to be spent and used in other ways on the network. In Algorand, blocks are constructed into 2 phases through lotteries known as 'cryptographic sortition' 📄 Algorand Smart Contracts 📄 Algorand's smart contracts are integrated into Algorand's layer 1 which means that they inherit the same speed, scale, finality, and security as the Algorand platform itself. Moreover, they are cost effective and error free. There are a number of benefits that come with the Algorand smart contracts. It's energy efficient, fast, it has immediate transaction finality, it's easy to develop on (supports Java, Javascript, Python, Go) and of course it's cheap to send on It was also recently announced that USDC would be moving away from the Etheruem blockchain to other solutions like Algorand. There are likely to be number of other DeFi projects that are to follow suit given the high fees and scaling issues we have on the Ethereum network. 📈 ALGO Tokenomics 📈 The native token on the Algorand blockchain is their ALGO token. This is a utility token and there are two main functions that I can see. - Firstly, they can be used in order to stake and earn those ecosystem rewards - and secondly, they can be used in order to pay for transaction fees and dApp computations. There were a total of 10 billion tokens that were minted in the Genesis block. Now, while that may seem like a lot, the circulating supply is a lot less. The circulating supply is only about 1 billion. Token sales are still ongoing which could mean high inflation onto the circulating supply. Current sales imply a 15% inflation rate ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 📜 Disclaimer 📜 The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome. #Algordan #ALGO #Defi #crypto #ethereum #scaling #blockchain #USDC [Bot0M5hXC0c] |
| Category | Education |
| Tags | Algorand | ALGO | Blockchain Trilemma | Defi | Marshal Islands SOV | USDC | Ethereum | Coinbase | Trading |
