The distributed ledger technology popularly called the Blockchain has become a very vital tool which is held at a high esteem in the digital system and across different industries. This technology was developed with great infrastructures and adopts improved techniques which let it function at its full capacity, delivering unparalleled opportunities to the global population.
A close observation of the global system will reveal that nearly every industry has started utilizing this colossal technology (the Blockchain) and are already experiencing its proficiency compared to the unrefined tools which were originally in use and had proven inefficient at every point of operation. The Blockchain technology is already taking effect in the health sector, helping to improve their performance in the quest to save lives, in the gaming industry, to make gaming super fun and profitable to the participants, in the transportation industry to help keep records and schedule of every operation, and even in the financial system, to facilitate a cashless economy as well as borderless and unrestricted transactions.
The level of adoption of the Blockchain seen today is dependent on the fact that there are numerous Blockchain platforms in existence today and there is a great need to embrace this technology so as not to be left behind while the digital revolution is impacting different systems. But this adoption is still very limited compared to what the true acceptance of the Blockchain globally would look like, and there is a good explanation as to what is causing this delay in adoption.
The existing Blockchain technology is not fully equipped to handle whatever is thrown at it and so is incapable of being adopted globally, as the cutting-edge technology which will efficiently manage the affairs of every system. It has been failing greatly at effectively achieving all the supposed features of an efficient Blockchain, without relinquishing some of it, in the process.
Decentralization, scalability, security and increased speed, among many others, are known to be the core features of a Blockchain, but sadly, all these are not present in the existing Blockchain technology due to the inadequacy in design and infrastructure, so while trying to achieve scalability, the current Blockchain surrenders governance to a central authority, making it centralized and inefficient for users. In most cases where it tries to attain decentralization, this Blockchain ends up losing either scalability or security of its framework which obviously is still not good enough for the global users.
These are the reasons why Blockchain technology is having a hard time gaining global recognition and adoption. And it will be impossible for any system to comfortably build on the Blockchain, knowing that it is flawed and lacks the capacity to help advance their system. This issue has persisted for so long, making the global system operate without the boons offered by the Blockchain and if left unresolved, the massive adoption of the Blockchain will be impossible to achieve. Well, the wait for a reliable system is over and the global adoption of the Blockchain is now feasible through the birth of Algorand.
THE ALGORAND BLOCKCHAIN HAS UNRESERVED BENEFITS
The Algorand system is a non-profit system which has developed the first open-source PPOS (Pure Proof-of-Stake) Blockchain, which is fully equipped to help users build their Dapps successfully. For sometime now, there has been an upheave in the number of systems who wish to build on the Algorand Blockchain which is in fact, an acknowledgement to how upgraded the Algorand protocol is.
Algorand now serves as a reliable building Block upon which every project, establishment and individual developers can build.
REASONS FOR BUILDING ON THE ALGORAND BLOCKCHAIN
The Algorand Blockchain commands some intriguing features which cannot be found on other Blockchains and leads to the effectiveness of every project built on it.
A WELL ADEPT TEAM
Behind every great system, is a reliable and
proficient team. The Algorand team is indeed one of a kind, made up of a group of geniuses who are well experienced in the digital and technological field and are always ready to help developers
and other projects to efficiently utilize the Algorand Blockchain in the building of its applications.
This makes building of projects easier as you have helping hands who are experts and are eager to assist you in making your dream applications, a reality. Another reason for building on the Algorand Blockchain is its...
EASY-TO-USE BUILDING GEARS
A lot of Blockchains in the industry today
make the building of applications on their system to be very complex and unfathomable for the users, in turn making it impossible for
users, especially the new ones, to build a successful application on it. But the case is entirely different with the Algorand Blockchain. It has provided all the tools needed by users to build on its Blockchain without stress, by making these tools very simple to understand and use, allowing these developers to build effortlessly on the Blockchain.
INCREDIBLE TRANSACTION SPEED
The blocks on the Algorand Blockchain are completed at a speed that is less than 5 seconds, which is unbelievably fast and improves the frustrating experience which the users have had while trying to build on other Blockchains.
This design makes it able to process up to a
thousand transaction in a second which is just perfect for systems which wish to provide fast transactions for its users. No matter how large the transaction is, the Algorand Blockchain has got it covered as it processes them all without stress.
The cost of transactions and building applications on the Algorand Blockchain is very minimal, to helpers systems get more profits.This is for sure, a desirable quality for building on a Blockchain.
IRREVOCABILITY OF EVERY TRANSACTION
Another feature which makes the Algorand Blockchain the most suitable building block for project is its inability to be manipulated or transactions carried out on it to be revoked by anyone. This means that once a block is created on the Algorand Blockchain, it is final, helping systems achieve efficiency in their systems. This feature of the Algorand Blockchain has been attested to be the best, by an expert system.
ABSOLUTE DECENTRALIZATION OF THE SYSTEM
Algorand has finally achieved the Blockchain features which have been a problem in the industry, as its entire system both in operation and governance, is fully
decentralized, away from any central control during Block certifications and the general operations of the systems. This makes building on Algorand to be less difficult and fully transparent. Several Dapps and Digital assets can now be built with ease by adopting the use of the Algorand Blockchain.
CONCLUSION
All the reviewed features of the Algorand Blockchain makes it the impeccable tool for building any dapps and one of the fascinating things is that this can be done by any user with or without experience, without having to pay much for it. Algorand Blockchain is very timely and with these unique features makes Blockchain adoption in the building of projects to become easy and more efficient.
