AlgoBatman

FOMO is just beginning on @FIFAPlusCollect! 🤯 FIFA's official digital collectibles platform, built on #Algorand, is seeing its volume increase significantly day by day! 📈 Soon 1M NFTs minted on $ALGO and $3M in volume! The most bullish thing? Is that now all the football federations of the world as well as all the clubs, can freely use @FIFAPlusCollect to launch their own collections for their fans! We're at the beginning of something really, really, big.

Happy Sunday everyone! ☕️☀️ The comments below my last post sum up everything that is wrong with our ecosystem today: the lack of objectivity and the spread of misleading information. 👉 Activity on Solana is greatly overestimated Yes there is activity on $SOL - mainly through speculation - and definitely more than on $ALGO, I have no problem recognizing that. However, too many people, even within their community, are unaware that on-chain activity on #Solana is greatly exaggerated, with their metrics being artificially inflated. "Solana handles more than +2000 TPS every day!" This is something we hear absolutely everywhere on CT to justify the supposed overflowing activity on Solana compared to other blockchains/DLTs. The truth, however, is much less appealing. ➡️ Let's consider the total TPS reported by @solanafm, which is 2,500 right now. 1⃣ First, you have to remove 70% of consensus vote transactions, I'm not teaching you anything. 2⃣ Then you get the "True TPS", taking into account only finalized transactions. This figure is generally used everywhere, as seen on @chainspect_app. When you see circulating graphs showing the number of transactions made on #Solana (daily, monthly, quarterly, yearly), they always use this figure. 3⃣ Because of its structure and low transaction fees, Solana is a huge breeding ground for arbitrage bots. Unlike a blockchain like #Algorand, where any failed transaction (for X reasons) is immediately rejected by the first node before being propagated on the network, thus preventing the user from paying unnecessary fees, #Solana treats failed transactions as valid transactions because they are paid for by the user. This constitutes a monumental waste of storage space, as each failed transaction is recorded on-chain, unnecessarily inflating the size of the ledger, which is already massive! Who will be able to run an archive node on Solana in a few years, except a few people? ⛳️ Moreover, they're confronted with an alarming rate of failed on-chain transactions, which artificially inflates Solana's "True TPS" and sometimes even leads to network congestion for "real users". Failed transactions on #Solana, mainly caused by arbitrage bots (bad slippage, etc.), represent around 70% of the "True TPS". ➡️ So from 2,500 TPS, you end up with 225 TPS. Tbh, 225 TPS in "real" activity (though there are still a lot of bots) is still great, and it's much more than #Algorand, which runs at around 30 TPS, with no failed transactions counted. Solana deserves respect for that! 🤝 However, this remains far less impressive than one might initially think or read on CT, placing $SOL far behind a chain like $HBAR. I won't discuss Solana's TVL or fake volume here too, but there are many examples of huge manipulation cases to inflate it, and I can only advise you to take a look here: x.com/WazzCrypto/sta… @WazzCrypto Just like the metric of the number of "active users", often put forward to prove the large user base on Solana, which is a completely misleading metric. ❌ It only refers to the number of active addresses on the network over a given period, and in no case does it indicate real users. Especially since it's super easy to manipulate on Solana due to its very low transaction fees, allowing people to spam thousands of addresses with their shitcoins/NFTs (which is btw not possible on Algorand thanks to an anti-spam security). There are some very cool stuff on Solana, I know it, I use it sometimes. Let's just be honest. 👉 "Algorand is a ghost chain with no users" In fact, overall, the only major criticism point against $ALGO is to say that it's a ghost chain, and it's easy to criticize Solana (downtime, congestion, etc.) when you have no on-chain activity. Firstly, FYI, over 406 million transactions were made on Algorand during Q1 2024. This makes #Algorand the fourth-ranked chain by activity over this period, behind Hedera, Solana, and Tron. Secondly, always FYI, #Algorand has been recorded several times at over 5,000 TPS by an unbiased site, @chainspect_app, with an all-time high - including all chains - at 5,716 TPS, with all instant finality. ➡️ This is 3.5x times what has ever been recorded on Solana, which cannot even exceed 1600 "true TPS" without stopping or congesting. Fact. Now, regarding the TVL, please keep in mind that @DefiLlama doesn't take into account RWAs in the calculation of TVL, which is a crucial point for Algorand. $ALGO supports some of the biggest blockchain use cases in the world today! Many RW institutions and important companies build and rely on Algorand, such as @bancaditalia, @FIFAcom, @Quantoz, @HesabPay_, @koibanx, @lofty_ai, @napster, @agrotoken, @lavazzagroup, @theworldchess, @mapaycorp, @ClimateTrade, @SIAE_Official, @meldgold... Let’s just take the example of @travelx__, one of the biggest use cases for blockchain today: Thanks to them, already two airlines, including the second-largest company in Mexico, @VivaAerobus, tokenize all their plane tickets in real-time on Algorand! ✈️ Could you just imagine the volume generated for a so-called "ghost chain"? (and not counted by DeFiLlama!) Each month, millions of ordinary people use blockchain technology to take planes without even realizing it! All of the crypto community should be happy about that! This is an incredible example of the democratization of our technology! 🔥 But who talks about it or brings this to light...? @CoinDesk @Cointelegraph @coinbureau @AltcoinDailyio @CoinGapeMedia @blockworks @TheBlock__ I'm obviously not going to blame anyone for not being aware of this, Algorand's exposure is relatively limited, I admit, and it needs to be worked on (cf the ad). But that's precisely what I was trying to say in my previous post: we need to highlight real blockchain use cases like this more, regardless of the chain used. $HBAR also has some very cool real use cases for example, but who is talking about it? Once again, no one. 👉 "Algorand no longer has explorers" Pure FUD, referencing the shutdown of two old Algorand explorers few months ago: AlgoExplorer from @randlabs and AlgoScan, which are still unfortunately referenced on Google. In both cases, it was a deliberate choice by the @AlgoFoundation to stop funding them - for reasons known to the entire Algorand community - preferring to favor other options. We have plenty of great explorers on $ALGO such as @alloinfo, @PeraAlgoWallet, Blockpack, Dappflow, Bitquery, etc. ! So please, don't be fooled by this FUD. Not everything is perfect on #Algorand, some points can be improved and there is still a lot of work to be done, but it's definitely a chain that deserves much more recognition! Are you a user? Let's give it a try! Are you a developer? Let's give it a try! especially since now pure Python is supported for writing smart contracts. You might not think so, but #algofam is super welcoming and friendly! 😁 Have a great Sunday everyone! ☀️