This another episode of BLOCKCHAIN ACCELERATION PROGRAMME anchored by Chijamz and powered by Coinnewsextra. The discussion of programme is all about Algorand and the businesses that can be run on the Algorand Blockchain. The guest for today’s episode is Mr Bob.
TOPIC: BUSINESSES THAT CAN BE RUN ON ALGORAND BLOCKCHAIN
WHAT IS ALGORAND?
Algorand is a technology company that built and developed the world’s first open, permissionless, pure proof-of-stake blockchain protocol that, without forking, provides the necessary security, scalability, and decentralization needed for today’s economy. With an award-winning team, we enable traditional finance and decentralized financial businesses to embrace the world of frictionless finance.
ALGORAND AND ITS PROTOCOLS
- SMART CONTRACTS
Comprehensive smart contract capabilities enable DeFi solutions and dApps that can scale to billions of users, with negligible transaction fees.
- ALGORAND STANDARDIZED ASSETS
Algorand Standard Assets are standard blockchain assets with customizable options, directly in layer-1. Algorand Standard Assets (ASA) provide a standardized , layer-1 mechanism to represent any type of asset on the Algorand blockchain. These can include fungible, non-fungible, restricted fungible and restricted non-fungible assets.
- ATOMIC TRANSFERS.
Secure transfers and immediate transaction settlement for multiparty transaction built in layer-
ALGORAND AND FRICTIONLESS FINANCE.
Algorand has once again proposed a major protocol upgrade that significantly expands the range of decentralized applications, DeFi solutions and processes that can be built on the Algorand platform. With this new suite of features all built directly into layer-1, enterprise-scale distributed apps can be created without sacrificing performance or security.
ALGORAND FOUNDATION GRANTS CATEGORIES.
If you have a project or a service, the algorand blockchain already provided for you grants, and categories where you can place your projects to win this grants.
- Research Proposal : Funding of innovative research directions with potentially major contributions to the long term success of Algorand and any other blockchain ecosystems.
- Development tools and Infrastructure: Tools and infrastructure components to support development over the Algorand blockchain and its use. These tools and components should make the Algorand network easily accessible to developers and system builders.
- Applications and Use-cases: Grants for projects building and deploying applications targeting a variety of real-world use-cases and demonstrating high potentials for driving mainstream adoption and enabling borderless economy.
- Education and Community: Supporting educational efforts that drive awareness of open source, decentralized technologies and their impact on businesses and society. They also support community led initiatives that strengthen and grow the Algorand community.
Examples of Businesses that can be launched on Algorand.
- Gaming: The gaming industry is a huge industry, and with the solutions on that Algorand Blockchain, you can leverage that to build a global gaming ecosystem e.g World Chess Reach.
- Digital assets: These are files created electronically, and that exist as data held on a digital storage drive or computer system, however, items made by hand can become digital assets.
- Decentralized finance: Often known as DeFi or open finance, which refers to the economic paradigm shift enabled by decentralized technologies, particularly blockchain networks. They are also refers to financial services using smart contracts, which are automated enforceable agreements that don’t need intermediaries like a bank or lawyer.