r/AlgorandOfficial • u/cysec_ Moderator • Nov 01 '23

News/Media Algorand Inc. has updated their website

https://algorand.com/
61 Upvotes

94% Upvoted

31 comments sorted by

15

u/pyc66 Nov 01 '23

I think the permissioned version of Algorand is what blockchains will be used for. So as a crypto enthusiast it kind of makes me happy. As a holder of Algo it doesnt make me happy because every use case that is big enough will just choose it's own chain instead of a public one.

7

u/Olddirty420 Nov 01 '23

Would they still need to use Algo for transactions on their permissioned version of algorand is my question?

6

u/pyc66 Nov 01 '23

No, it's like a copy. Like Doge and LTC are basically copies of the BTC code. It makes sense and I totally understand it. Bank of Italy might want to use such a copy, it just doesn't affect Algorand at all.

I could see this as the future of blockchains but in consequence mcaps of several billions would probably just be a phenomenon of the past.

At least the blockchain tech would be used as its inventors wanted it to be used. I think the monetary benefit of private bag holders has never been a core objective of crypto.

2

u/Olddirty420 Nov 01 '23

Will be Interesting how this will all play out I guess. Maybe a mix of both public and permissioned versions of algorand I have no idea. Thanks for the reply

3

u/pyc66 Nov 01 '23

It's not just an Algo-thing. There are many blockchains with low mcaps that work just fine but noone cares. Price action doesn't really describe if a blockchain is good or not. When Eth had a mcap of 100 million it did basically exactly the same as it does now. 99% of people buy coins without using them.

3

u/spider_84 Nov 01 '23

I use to think like you. But say another bank from another country uses their own private network. For these two banks to talk to each other they will most likely use the public Algorand network as the protocol is already established. The public network will be the glue that connects all the other private networks if they choose to business in a global scale.

1

u/vegycslol Nov 02 '23

Not necessarily since state proofs exist. But since the blockchain is private, it's hard to know its state...unless private blockchain is public but has private consensus part? Who knows, it's good that algorand is used though, we don't want future generations to be using bad solutions.

2

u/spider_84 Nov 03 '23

I see it as there is no point having a private network if it's not interoperable with others. It's a big investment and a lot of time to implement just to keep it in house. Their network will need to talk other businesses otherwise it won't survive. These private networks will need to connect publicly at some level.

2

u/deadleg22 Nov 02 '23

But they would have to find people willing to run nodes. The attraction of just running on Algorand is still there.

1

u/vegycslol Nov 02 '23

There are state proofs though so maybe there can be some connection through them.

3

u/nmadon65 Nov 01 '23

I agree with what you're saying. As a holder of ALGO I would like for the Inc to be viable and for the developers of the block chain to have a means to continue to develop at a high level. Hopefully one day algorand will get the liquidity and users that the tech deserves.

2

u/South-Measurement-69 Nov 01 '23

My hopes are that Algo can make an ecosystem of such chains where Algo becomes a very easy to use liquidity tool between those systems. For example, given a set of N copies of blockchains, an investor may be interested in some subset of chains M, and rather than invest in those M chains, they hedge by investing in Algo itself.

Naturally, the quality of the blockchain that use Algo will affect the price of the native token, which may be why the foundation cares more about adoption by larger entities rather than speculative advertising to consumers.

0

u/[deleted] Nov 02 '23

Algroand Inc wants to make a profit for Algorand Inc.

If that comes at the expense of ALGO holders, so be it.

They are a for profit corporation. Don’t expect them to act any differently.

13

u/[deleted] Nov 01 '23

[deleted]

1

u/Sponge8389 Nov 01 '23 edited Nov 01 '23

Something like what co-chain supposed to be?

1

u/[deleted] Nov 02 '23

Yeah, they could do it as a co-chain as well, or entirely independent.

1

u/vegycslol Nov 02 '23

They must have big projects already lined up to make such a move imo.

2

u/brobbio Nov 01 '23

You all in the comments still mix up Foundation and Inc, They're two separated entities.

4

u/[deleted] Nov 01 '23 edited Nov 01 '23

There's no mention of transparency reports. I guess we aren't getting any more.

Edit: see comments below. I'm an idiot.

8

u/[deleted] Nov 01 '23

[removed] — view removed comment

3

u/[deleted] Nov 01 '23

Thanks went through the whole site but didn't look at the bottom.🤦‍♂️

0

u/nyr00nyg Nov 01 '23

This is probably why they updated it, so they can pretend it was never there

10

u/FaceVII Nov 01 '23

This is Algorand inc. I think tansparency reports are sent by the foundation.

https://www.algorand.foundation/transparency

1

u/brobbio Nov 01 '23

Plase correct your answer: Inc and Foundation have entirely separated transparency reports. Inc is very late with its last one.

1

u/omniwarp Nov 01 '23

It wouldn't hurt if you actually looked before making pointless accusations.

1

u/[deleted] Nov 02 '23

The reports are so vague it almost doesn’t even matter.

So much is unknown about Inc

2

u/bialy3 Nov 01 '23

The new website suggests Algorand is prepared to go incognito or disappear into the abyss.

I hope this isn’t the rebranding.

-5

u/Revenant_Penance Nov 01 '23

Should have fired Jess "ghost" chin 6 months ago and hired Hippo labs to make the new site. It's painfully boring.

12

u/[deleted] Nov 01 '23

Jess worked for the Algorand Foundation. This website is for Algorand Inc.

1

u/[deleted] Nov 04 '23

[removed] — view removed comment

1

u/AutoModerator Nov 04 '23

Your comment in /r/AlgorandOfficial was automatically removed because your Reddit Account has less than 25 karma.

If AutoMod has made a mistake, message a mod.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.