The blockchain provides a more secure environment for these assets. It is committed to being the most environmentally friendly blockchain with a carbon negative network. Blockchain like Solana is firmly established in the NFTs creation scene.
Algorand was founded by Silvio Micali, an Italian computer scientist, and professor at the Massachusetts Institute of Technology. In 2012, he received a Turing Award for his work in cryptography. The foundations of Algorand have developed a blockchain infrastructure that provides interoperability and the ability to handle the volume of transactions that financial institutions and governments need for a smooth transition to FutureFi. The technology of choice for more than 700 global organizations, Algorand enables the simple creation of next-generation financial products, protocols, and value exchange.
The ALGO protocol token is the 28th digital currency by market capitalization ($6.4 billion). The number of developers on the platform has increased to around 200 from just over 50 in the previous year!
A little bit of technology in Algorand that has one point in common with Solana gives it a huge advantage. Both provide a new way to validate transactions. Solana uses history guide. This tags blocks of data with timestamps and thus simplifies the validation process. Many blockchains use proof of stake. This provides verification power based on their holdings. But Algorand uses “pure” proof of stake. This means that the verification strength is assigned randomly to any stakeholder. It also simplifies the verification process, and most importantly it enhances security and decentralization. Pure proof of stake means that verification responsibilities will not always go to the same group of major stakeholders.
Currently, Algorand handles about 1,200 transactions per second. The next goal is to reach about 3000 per second. Algorand is eventually working on increasing that number to 45,000 transactions per second. It is committed to being the most environmentally friendly blockchain with a carbon negative network. The power required to run a node in the network is negligible and can be done on a simple device like a Raspberry Pi. Compared to other blockchains, creating digital assets and transactions on Algorand entails a significant reduction in CO2 emissions, with an initial analysis showing about 2 million times less. Notably, through its advanced smart contracts, the blockchain will then lock the equivalent amount of carbon credits such as ASA (Algorand Standard Asset) into the green treasury so that its protocol continues to operate as carbon negative.
Below, 6 innovative platforms built on Algorand.
Abris permet aux créateurs innovants du monde entier de présenter leur créativité en tant que NFT dans le cadre d’une collection exclusive de NFT unique et rare ou d’avoir un Omni Store avec leurs différents types de NFT permet tre de s le act no limits. Abris.io also provides NFTs as a Service (NFTaaS) to help artists, celebrities, charities, galleries, political campaigns, social impact initiatives, brands and companies to sell/auction their NFTs as well, allowing individual event tickets as NFTs. At Abris, anyone can safely mint NFTs in one step. In addition, the platform’s buy, sell and resale market is regulated, with all artists and collectibles fully vetted. Artists who have been verified for sale on the platform receive 90% of sales of primary assets and 5% of total secondary sales.
AB2 . Gallery
The AB2 Gallery platform is a simple, unlicensed and secure NFT trading solution for artists and collectors in the Algorand ecosystem, made possible through smart contracts. There are no accounts in the AB2 gallery, usernames and avatars are written directly on the blockchain. The same applies to almost all aspects of using the AB2 Gallery, all you need is a valid ALGO title to get started.
ZestBloom will offer a range of solutions to give artists more control and less responsibility. Every NFT managed by ZestBloom will come with a content-based digital signature that prevents others from stealing any part of the work. Their nodes are constantly indexing the Algorand blockchain for abuse and imitation, which is aggressively caught even if only a small portion of the work is stolen. Giving more control to the original creators directly reduces the chances of getting low-effort content.
Another advantage is that partial NFTs (fNFTs) significantly reduce the barrier to entry for users. The higher gas fees on Ethereum significantly reduce the benefit of the split, as the fees will cost more or most of the fNFT. Since the transaction fees on Algorand are negligible, you can trade fractions profitably. Artists often don’t know how to price their work and an ambitious reserve price may lead to no bidding, unfortunately. The division then offers an alternative sales model at more accessible prices. Thus, having multiple NFT owners also reduces the risk to the artist, as it increases the likelihood of a return with more potential buyers.
Aorist embodies an interdisciplinary program of artists, international exhibitions, and partnerships that connect the digital and physical worlds, while supporting experimentation, co-creation and innovation. Aorist leverages Web 3 technology to provide advanced tools for artists to push the boundaries of their practice, while protecting the principles of ownership, authenticity, and social capital. Aorist uses the Algorand network to access NFTs. This is an example of a gallery in Miami, a crossroads, which is a decentralized experience! Includes physical installations, augmented reality (AR), immersive experiences, and online-only artwork.
The NFT DartRoom platform focuses on the artist making it easier for creators to create artwork and sell it in the marketplace. It gives artists the choice between NFT, Smart NFTs and ASA (Standard Algorand Origins) formats! Dartroom’s goal is to provide artists and collectors the ability to interact in a sustainable, safe and affordable way. Dartroom also aims to allow artists who are not familiar with how blockchains work to be able to mint and sell their artwork with relative ease.
ArtSquare.io is the first blockchain-based platform that makes collaboratively owned fine art, digital arts and collectibles (artworks) affordable and digitally manageable, making capital artworks a source of cash flow (passive income) for the first time in history.