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  • Cryptopedia Chapter 6 - Algorand (ALGO)
    by /u/irfiisme on September 22, 2021 at 12:31 pm

    Hi guys, I'll be doing short introductory posts on various cryptocurrencies to help newbies to get their feet wet with crypto and to brush up the memories of the oldies in this sub. Leave your suggestions on how can I improve my work. Tell me in the comments which coins would you like to see. Introduction Algorand is an open-source, decentralized blockchain network that leverages a two-tiered structure and a unique variation of the Proof-of-Stake (PoS) consensus mechanism to increase transaction speeds and achieve finality. Algorand’s block rewards are distributed to all ALGO coin holders, offering all ALGO holders an opportunity to earn rewards instead of just block producers. Algorand is a decentralized network built to solve the blockchain trilemma of achieving speed, security, and decentralization simultaneously. It is a permissionless and open-source blockchain network upon which anyone can build. Algorand is designed to be a payments-focused network with rapid transactions and a strong focus on achieving near-instant finality — that means processing over 1,000 transactions per second (TPS) and achieving transaction finality in less than five seconds. As a public smart contract blockchain that relies on staking, Algorand is currently capable of hosting decentralized application (dApp) development and providing scalability. Rising gas fees on Ethereum have led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions, with some turning to Algorand as an Ethereum-alternative for dApp development and DeFi applications. Inception Launched in June 2019 by computer scientist and MIT professor Silvio Micali, Algorand is a permissionless and open-source blockchain network upon which anyone can build. A non-profit organization called the Algorand Foundation oversees the funding and development of Algorand Inc. and the Algorand protocol itself. The Algorand Foundation supports developer education in universities and educational settings. Its Global University Program includes prestigious universities like MIT, UC Berkeley, and other leading institutions around the world. Technology Algorand uses a Proof-of-Stake (PoS) consensus mechanism, and distributes validator rewards to all holders of its native ALGO cryptocurrency. Through strong throughput capacity and equitable community incentivization, Algorand is capable of managing the high-throughput requirements of widespread global usage and a variety of use cases. Algorand has a unique two-tiered blockchain structure. The base layer supports smart contracts, asset creation, and atomic swaps between assets. All of these processes take place on Layer 1 of the Algorand blockchain, which helps ensure security and compatibility. The second layer of Algorand is reserved for more complex smart contracts and dApp development. It’s this bifurcation of the network, between Layer 1 and Layer 2, that allows Algorand to process transactions so efficiently. With more complex smart contracts taking place off-chain, simple transactions can be processed more quickly on Layer 1 without being bogged down by larger, more complex smart contracts. Statistics (At the time of writing) Price $1.67 Market Cap $9,394,202,862 Circulation 5.6 Billion Total Supply 6.2 Billion References: Wikipedia Gemini Ethereum.org Disclaimer: This post is for informational purposes only and not a financial advise. DYOR. Previous posts Cryptopedia Chapter 1 - Bitcoin (BTC) Cryptopedia Chapter 2 - Ethereum (ETH) Cryptopedia Chapter 3 - Litecoin (LTC) Cryptopedia Chapter 4 - Cardano (ADA) Cryptopedia Chapter 5 - Ripple (XRP) Edit: As pointed out by u/Man_Reb0rn Algorand is starting a Governance Rewards system. Below is some basic info about the topic. The Decentralised, Community Governance Rewards model has been designed to highly value and reward the commitment of Algorand Governors to the Algorand ecosystem and their participation in voting. This is currently running at a rewards rate of 5.6% annualized. On top of this, 60M ALGO has been allocated as the governance rewards pool for the 1st Governance period. submitted by /u/irfiisme [link] [comments]

  • Evergrande will continue to make payments. The markets will be fine including crypto
    by /u/fallenkeith2018 on September 22, 2021 at 12:29 pm

    submitted by /u/fallenkeith2018 [link] [comments]

  • Jim Cramer who bought Bitcoin High and Sold Low Now wants You to Take Profits
    by /u/ShungiteBot on September 22, 2021 at 12:10 pm

    submitted by /u/ShungiteBot [link] [comments]

  • We got used to bear markets that we get enthusiastic about mini-bulls.
    by /u/One_Molasses_8415 on September 22, 2021 at 12:04 pm

    Crypto-enthusiast here who’s been in the bear market since May. After yesterday’s almost-crash i lost some positions that i bought in May and was HODLing ever since. But now when the market is going up or it’s a green day we get happy to see that color although we are still too deep ! Stop telling me about last year how was ETH 300$ and BTC 10k$. I got in like many others in May and we haven’t seen green ever since! Golden Cross, Death Cross and people with thousands of upvotes due to their Sophisticated analysis are just a Fugazi. Nobody knows and least of all those “experts” if the markets are going up or down or even fucking sideways. Every day/week/month we hear FUD news like (China prohibiting BTC mining / Turkey anti-Crypto Speech / SEC moves on different platforms ..) or even FOMO news (ADA sMaRT CoNTracTs, eL SaLVaDOR BTC love ..) And we have been sinking on both types of news. I’m not being pessimistic but just stating the facts as we are experiencing them and the amount of mental pressure it applies to us. And stop saying DCA! I already did use all my Crypto-allocated funds so I’m watching my DCAed assets being blood red. I’m not rich, average income individual here, those who keep DCAing i guess have infinity finance. My problem is that i suffer from Chronic Diamond Hands HODLitits, which means that the patient can never sell in red. The case is supposed to be monitored closely and mainly treated with Conservative Therapie using Hopium tablets. However my Hopium dealer broke up with me, so I had to post this here . Fun Fact: I made through day trading alot more than I did in my long Holdings, my long positions haven’t broken even .. Edit1: Thanks for the support everyone it feels good to have a good community in such a hard time.. Edit2: market is up huh submitted by /u/One_Molasses_8415 [link] [comments]

  • China markets have been open for almost 12 hours now and nothing happened.
    by /u/danielrp00 on September 22, 2021 at 11:34 am

    Yesterday there was a lot of people claiming there would be massive price drops today just as soon as the China markets were open, everybody was in panic and everybody was expecting a black Wendnesday today. Well, as you can see nothing happened (just a little dip). That proves nobody in this sub knows what the fuck they are talking about. Shit I dont even know if after posting this the markets will crash or go to the Moon. Nobody here knows what will happen. Evergrande could go bankrupt and that could cause crypto to go to Mars. Evergrande could announce it's been able to pay all it's debt and crypto could crash to oblivion. Nobody knows what will happen, there's no way of predicting what will happen. Past performance of the markets shouldnt be used for making predictions and technical analysis is basically astrology with charts (specially on crypto). All the posts predicting crashes are FUD written by people that dont even know they are spreading FUD. Just remember that analysts have successfully predicted 11 out of the 2 economic crisis of the last 20 years. submitted by /u/danielrp00 [link] [comments]

  • Bitcoin wallet from the Satoshi Nakamoto era suddenly activates after 9 years
    by /u/dan345dmg on September 22, 2021 at 10:47 am

    submitted by /u/dan345dmg [link] [comments]

  • This is why you should not take advice from random redditors
    by /u/randfyld on September 22, 2021 at 10:10 am

    The past few days the subreddit was flooding with predictions on how crypto will dump because of the whole Evergrande drama. "Get ready for big dips", " you should buy the dip but not now" and many other posts were spreading FUD. The funny thing is that when the chinese market actually opened, crypto not only did not went down, but it went up! Apparently Evergrande has reached an agreement (as if the chinese government would ever let them go bankrupt..) Nobody can predict the market. Nobody knows shit about fuck. Make your own research, invest in good project and in long term you will probably be fine. In short term nobody knows what will happen! submitted by /u/randfyld [link] [comments]

  • Dubai World Trade Centre Authority to ‘support’ crypto asset trading
    by /u/SunriseFan99 on September 22, 2021 at 10:07 am

    submitted by /u/SunriseFan99 [link] [comments]

  • If you can't handle the -10%+ daily swings you don't deserve the 100%+ gains - something odd is happening with this sub
    by /u/runescaperulesok on September 22, 2021 at 9:37 am

    Some of the posts on here recently have honestly been embarrassing the amount of fear being distributed is kind of suspicious. I've seen many posts discussing how China and the wider stock markets are about to experience issues? Isn't this what crypto was all about... Being separate from that kind of thing and indipendent. These posts about how much losses equate to are also laughable it makes everyone here look like children in a maths class. I believe that something fishy is going on in this sub. The way this sub has been acting the past few days makes me think that either thousands of people are in this as some kind of stupid short term gamble or the sub is being manipulated so as to push the price lower so whales can make a pretty penny. What are your thoughts? submitted by /u/runescaperulesok [link] [comments]

  • If you're panicking, it means that you've invested more than you can afford to lose
    by /u/loveyoustink on September 22, 2021 at 9:18 am

    I've noticed yesterday in the Daily Discussion thread that lots and lots of people were panicking and saying stuff like "omg we going to 20k" and all that. This correction was about 20% to Bitcoin and 30-40% to altcoins. This, generally speaking, isn't a lot, we had the May correction, which was about 60% to Bitcoin only and 70-80% to altcoins. These are the times when people are losing their money. The fear and greed index is showing 21 now, which is referred to as "Extreme Fear". Yesterday we had 27, and the day before yesterday we were in a neutral area with 50. As the website says, when everyone is in fear, you should be buying and when the people are greedy, we are due for a correction. This makes sense if you think about it. Also, I just can't stand all these people giving financial advice out there. Most of the people that give financial advice in this subreddit don't know anything. The people that are giving out negative predictions or news are just being downvoted, which is not fair. I get that everyone wants green days and all that, but we cannot have that. If you are panicking, you have just invested more than you can afford to lose and that is rule number one in crypto. Rethink your choices. submitted by /u/loveyoustink [link] [comments]


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