- This topic has 2 replies, 2 voices, and was last updated 2 months ago by robeewankenobee.
- Sunday, July 24th, 2022 at 10:10 #344087Suspicious_Young_336Participant
I am super bullish on Algorand and I’ve been for the last couple of years, but let’s face it, it has a lot of problems.
One of the biggest problems Imo is the retail adoption, active wallets are an insignificant number compared to other chains (like Solana, Avalanche or Fantom) and most of the wallets are used only once every 3 months to participate in Governance.
I believe that in the coming years Algorand will grow exponentially, thanks to tech improvements and big partnerships (like FIFA or Banca d’Italia), but will it be able to catch up with the already huge adoption of other L1s? And will it be able to compete with the new ones coming out (siu and Aptos comes to my mind, which looks great on paper, but we’ll see)?Sunday, July 24th, 2022 at 10:10 #344088alexxosk
I’m a big algorand fan as well, but unfortunately it’s not always the best tech that ends up as “the winner”… Ethereum for example, is complex, is very expensive to use, but it is and remains very popular, because a lot of projects simply want to build on the biggest networks… I’m sure that Algorand will grow big, but if it can catch up with Ethereum for example, I’m not so sure, and also it doesn’t really matter imho, it’s about growth not about winningSunday, July 24th, 2022 at 10:10 #344089robeewankenobee
Best tech not necessarily wins the race , or even finishes it … Btc is outdated as tech but the market pull it has, makes everyone jump around it, they ended up very fast being processed on L2 like Lightning Network, it will scale up pretty solid.
My 2 cents, big fan of Algo, did a bag way back when it wasn’t that interesting, been committed since gov1 , but during this bear i barely bought any since XRP is clearly in a better market position , so is Cardano, Matic will be a monster in the coming bull … if everything doesn’t go to shit , that is the economic situation in general.
So yea, Algo has what it takes, but it will take some time to build up adoption and trust that you better go with Algo than with X … if the difference between Algo and X crypto isn’t much, people won’t bother creating new channels.
But i’ll give you that at this stage of adoption, any call for long is simply gibberish at most. Btc seems solid as the Prime Mover, but look at Eth, for not going with the right Proof, luckily it’s a bear and it doesn’t matter that much, but the community behind Eth is boiling for the upgrade release on mainet.
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