Algorand – The Potentially Perfect Middleman

I want to open up a discussion on the pure proof of stake chain Algorand. It’s very secure and touts 46k TPS by the end of the year (We’ll believe it when we see it) with having some of the lowest gas fees in the industry and a transaction finality around 4 seconds. I want to discuss the pros/cons of integrating Algorand as a middleman.

It’s a great coin but not fully decentralized yet; however, there are cryptos like ETH out there. ETH has a vibrant and vast ecosystem on its chain. The only problem? Gas fees. What happens when you want to buy a stable coin? Well buckle up because this could hit you harder than pulling out at an ATM. I know ETH2 will significantly help this issue but it’ll still be quite a bit more expensive than Algorand. See Cardano’s journey if you doubt Algorand will be cheaper on gas fees, they’re already a POS chain and I feel a fair comparison there.

What if we had tokenized cryptos on Algorand? You’re telling me I could trade bitcoin with 1000x less fees? I could do it in less than 10 seconds? It could be verified and secure? We know from Tether that the financial security is only as good as the backing. So besides the growing pains and logistics that all these cryptos still need to progress through, would you buy it? When it’s secure and backed, when it’s cheaper and faster, would you chose it? Is Algorand the bridge that will support and transact some of the more valuable cryptos in our near future? It sounds amazing to me. It’s everything we know now, just much more efficient. Let me know your thoughts!