Over the past year, Algorand has experienced significant growth, with a sharp increase in wallet adoption.
According to @intotheblock, the number of Algorand wallets with a balance rose from 18.88 million on September 24, 2023, to 21.48 million in 2024.
This impressive growth of 2.6 million new wallets in just one year highlights the increasing real-world adoption of the Algorand network.
Hey #AlgoFam, LOOK AT THIS! 👀
According to @intotheblock, on September 24th, 2023, the total number of #Algorand wallets with a balance was 18.88 million.
Today, one year later, we're at 21.48 million! 🚀
THAT'S 2.6 MILLION NEW WALLETS IN ONE YEAR!📈#BULLISH #ON $ALGO pic.twitter.com/gzs3s6ShsH
— Aj (@Ajwritescrypto) September 24, 2024
Algorand Tech Designed For Speed And EfficiencyÂ
Algorand’s technology is designed for speed and efficiency, making it an appealing choice for developers and businesses. The network achieved over 10,000 transactions per second (TPS) on its mainnet without any degradation in performance or an increase in transaction fees. TPS is a key metric used to evaluate a blockchain’s performance, and Algorand’s high capacity ensures scalability without compromising on its core features.
Updated #Algorand real-world adoption graphics.$ALGO is inevitable and fit for purpose!
Yes, that is 10k+ TPS achieved in the mainnet without any degradation in performance or tx fee increase.
How many #Blockchain's can claim that?! pic.twitter.com/uDP7IePSsr— ELDAR (@EldarDRM) September 25, 2024
Algorand is proving its worth as a high-performance blockchain, with this rise in wallet numbers showing that more users are recognizing its potential. As adoption continues to grow, Algorand remains a competitive player in the blockchain space, offering a secure, scalable, and efficient solution for various applications.
With its commitment to innovation and real-world use cases, $ALGO is positioning itself as a blockchain network capable of handling the increasing demands of the digital economy. This recent growth in user adoption is a strong indicator that Algorand’s influence and utility will continue to rise.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: benedak/123RF // Image Effects by Colorcinch
