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ALGORAND’S 2020 IN REVIEW + COMING DEVELOPMENTS IN 2021

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2020 has been a productive year for Algorand. We’ve seen more developers join the ecosystem to build solutions, learn and contribute to the developers community, we’ve also had lots of developer activities; from training sessions to sub training sessions like the Algorand Developers office hours that have developers participate in practical sessions of daily nuggets on building and learning to build on the Algorand Blockchain.

If you’re a developer, you can register for the Developer Office Hours here

https://www.algorand.com/resources/blog/developer-office-hours-reach

In 2020, we’ve also seen the Algorand enterprise ecosystem grow to over 500 companies building applications on Algorand blockchain with a lot more getting ready to come on board in 2021 and enjoy the solution of the borderless economy.

The Algorand Blockchain has had an average transaction of 500,000 transactions per day in 2020 oh what a year. This number of transactions posted on the Blockchain is sure to increase in 2021 as more products, partnerships and  use cases will be launched.

Recently, the Digital Monetary Institute (DMI) and OMFIF (Official Monetary & Financial Institutions Forum) Featured Algorand in her annual Payment industry reports; “The Future of Payments”. This report brings to light developments and innovations across the payment industry that occurred in the past year.

In talking about Algorand the report stated; 

“A platform like Algorand, paired with fintech’s latest developments, 

and simplified developer toolkits, has the potential to take the lead in the race for payments innovation.”

The report also stated;

“The path to generating trust is through programmable systems and programmable money, or real money that is represented digitally.’ Algorand enables the development of a wide range of scalable, secure and compliant applications to power frictionless financial exchange. Implementing trust through legacy methods and available technology is simply not feasible. The path to generating trust is through programmable systems and programmable money, or real money that is represented digitally. This form of money has rules that can be enforced by the money itself via smart contracts, which are coded into the system and replace the need for a trusted intermediary. Advanced smart contracts, like those available on Algorand, enable programmable money by automatically executing transactions using code stored on the blockchain when agreement terms are met. Smart contracts will replace traditional agreements. As an essential blockchain functionality that allows frictionless transaction methods, smart contracts give end-users more control with fewer intermediaries”

I trust 2021’s report will show the milestones in borderless payments that Algorand Blockchain solves. You can download the report and read it here https://www.algorand.com/resources/blog/the-future-of-payments-report

2021 also saw Algorand make form notable and profitable partnerships with top Blockchain Companies and Blockchain service providers, the likes of Tether, Circle, Blockstack, Monerium, Republic etc.

A lot of use cases on the Algorand Blockchain were launched and solutions were provided, we saw Nations like Canada and Marshall Islands (I’m still waiting for Nigeria) leverage the Algorand Blockchain CBDC use case and launched their CBDC on the Blockchain. We saw  both established projects and start ups project leverage the Algorand Blockchain from Environmental use cases to logistics, to Asset tokenization and management etc.

I created a video compiling some of these partnerships and their use cases, you can watch the video below.

LAUNCHING INTO 2021

Silivio Micali, the founder of Algorand has already created a performance projection for the Algorand Blockchain in 2020.

We will see transactions per seconds increase, block finalization time decrease, and overall productivity of the Blockchain increase.

I created an infographic outlining this performance projection m, check out the INFOGRAPHIC below.

You can read the report here https://www.algorand.com/resources/blog/algorand-2021-performance

MY EXPECTATIONS FOR ALGORAND ECOSYSTEM 2021

Personally, I want to see the introduction of NFT projects, games and market places  on the Algorand Blockchain, (yes, NFT’s are my latest love in Blockchain).

I personally have started work with some Devs in the Algorand space to begin this, watch out for this in 2021

I also would love to see new DeFi projects built on Algorand Blockchain because we have a real enterprise friendly use case. Having solved the Blockchain Trillema problem, and being 100% Secure, Decentralised and Scalable, projects will enjoy almost zero fees, great speed, full security and complete decentralisation on the Algorand Blockchain.

Algorand also has a vibrant community of developers, in resources for learning how to program solutions in the Blockchain and also resources in number of languages that can be used to build solutions.

Those are my thoughts!

What problems do you think Algorand Blockchain will solve? And what other projects do you think will become partners on the Blockchain?

You can answer here in the comment section in my twitter post;

Until next year, enjoy the Holidays!!!

I’m KarlaGod and I am an Algorand Ambassador.

www.algorand.com

www.algorandfoundation.com

Twitter: https://twitter.com/Algorand

Follow me on twitter: https://twitter.com/_karlagod

Subscribe to my YouTube channel: https://youtube.com/channel/UCn8pa_N3vjOZ8XaPpBvWZCA

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