I'm an ETH maxi. I hold 90% of my networth in ETH. It has the most diverse set of production clients, the most developers, and the most momentum.
I can appreciate what Cosmos is doing to make it easy to launch Blockchains and to some extent Polkadot too, but I haven't heard shit about ALGO. Someone shill this to me. What is it and what does it bring to the table?
kek ETH maxies are the real niggers of the crypto space. consider killing yourself
So you know that ETH2.0 that is always 2 weeks away? Well we already have it. Transaction fees are $0.0001, chain never went down like SOL, never got clogged like ADA, everything just works.
Try tinyman.org
Ok fine but I'm rich now so whatever
>Fast and cheap
Okay but what are you sacrificing? ETH security is top notch and approaching 400k validators is a feat while most chains barely have 50-1k (even if it's somewhat centralized)
> Okay but what are you sacrificing? ETH security is top notch
I don't disagree, Algo is a younger chain and will take some time to catch up.
The architecture is a bit different, selecting validators at random from all token holders (thus the name, AlgoRand). The bet is that nodes are so cheap to run, everyone will be able to run one.
Check this out for a better explanation: algorand.com
I also almost exclusively use ETH these days. I little bit of SCRT too.
But I don't consider myself a maxi. If any other chain that has even better fundamentals come along and grows popular, I'd switch. It's just that no one has, yet. I also kind of doubt they will be able to, due to giant network effect lead Ethereum has.
Hmmm... So how is that different than ETH2 which uses RANDAO to effectively do the same thing?
Crypto is so young. One giganuke bear market caused by something like Celsius going under and major crypto VCs going bust could reset the entire board of crypto.
ETH has a huge lead but it could be demolished by horrible crypto winter leading to a need to rebuild most of the ecosystem TVL from scratch anyways.
> how is that different
Two more weeks
Maybe but I'm not entirely convinced. He talks about how dollar value on the chain can crater due to a crash, but there are other aspects of value that can't. Even if most tokens in the ethereum ecosystem drops 99% in value, that doesn't negate all the work that has been done on it. All the thousands of dapps, all the years of research and development, all the word of mouth and force of habit, will still exist. It takes a long time for an alternative chain to build that up, even if for some reason all prices are reset to the starting line.
I don't know much about ETH's implementation, but from what I've read you need 32ETH to run a validator, which means most people would delegate their stake to some whale or central entity. Algorand is pure proof of stake. There is no minimum that you need to stake to run a participation node.
The difference is that it works lol.
(Just want to preface my comment by stating that I don't really know what I'm talking about)
Algorand's London bridge will allow the Algorand blockchain to mirror transactions made on Ethereum. Using trustless protocols through the use of smart contracts, Algorand will bring scalability and affordability to the incredibly liquid Ethereum without the use of a bridging token.
Totally true, but people were fundamentally different after the dot com and 2008 crashes. Hard to predict what would happen if we had a situation worse than Mt. Gox at current scale.
It's just hard to say how much could change depending on who specifically happens to blow up
That doesn't make any sense. ETH has a huge lead because it has the most developers. Both for protocols and dapps. It's incredibly unlikely that a "great reset" would happen. That's not how software works
I'm not sure that's much of an argument. At some point you need to be able to cap the number of validators otherwise the software won't run. Coordinating 50 nodes is a lot different than 10M.
So does the beacon chain
Everything said here plus off the top of my head
They have designs for post quantum security (Silvio Micali giga brain ftw)
TPS upgrades but already capable of over a thousand per second with 4 second finality
Atomic swaps, either it all works or it reverts, none of that lost my X still waiting for Y trade bullshit
EVM compatibility and state proofs being developed now (multi chain future)
Networking with governments/ISO 20022 compliant
WEF friendly (you won't escape what's coming)
Carbon NEGATIVE (btfo the enviro fudders)
I am new to crypto and used eth at first, it was horribly complicated and expensive as fuck. Thought no wonder this hasn't taken off globally yet. Then I tried algo and it was easy, cheap and fast like users expect money systems to be. No brainer that to get new people/mass adoption you need this. I discovered algo chain ASA trading via tiny man and now pact.fi and loving it. PS look at vestige token, they are about to drop the massive facelift to replace the old tiny chart dot org site which gets 12000 users a day. Algo is a small ecosystem but Rick solid tech and starting to bloom nicely. It's a new low level programming language (TEAL) though so Devs need to train up.
>Scalability and affordability
How? If it got just as popular as ETH, how would it be able to do this?
Both Algorand and Ethereum are made obsolete by HBAR. Buying Algorand now is just retarded. Bunch of dorks lmao no idea why they’re shilling on Any Forums 24/7
Check out hbar seriously you’ll never look back.
>Carbon NEGATIVE
what? how?
>Thought no wonder this hasn't taken off globally
But it has. That's exactly why it's expensive. I'm wary of any chain that says they've conquered the trilemme because once you actually dig into the code you realize what trade off they made to get there. I'm just not sure what that is for ALGO yet. Also, not a huge fan of the professor types. Usually more theory than practicality
>I don't know much about ETH's implementation, but from what I've read you need 32ETH to run a validator, which means most people would delegate their stake to some whale or central entity.
There are decentralized pools, so anyone can stake, just like it doesn't matter that you don't need ten million dollars worth of mining equipment to have a chance at finding a block in bitcoin.
ALGO is capable of literally 1000x ETH throughput with 4s transaction time.
Algo validators shift too rapidly for any attack short of a 51% to be viable. The math that lets this work is the value add from Silvio.
>TPS
TPS is such a misguided metric. TPS doesn't mean anything when your nodes get so bloated that it requires huge disks to run the chain. ETH could easily modify some values and process way more transactions, but it wouldn't be scalable fr a data perspective. How does ALGO cbat this?
Ah, so that's where QAN got their idea for Proof of Randomness from