Expanding ecosystem thanks to the underlying Algorand technology

Undoubtedly, the projects that will prevail in the future are those that have added value to contribute. Algorand is an open source underlying blockchain technology, with great technical qualities, which allows the development of innovative projects capable of providing solutions in the real world. Proof of this is the ecosystem that the network presents.

Real use of technology

Unfortunately, there are malicious actors that generate blockchain projects that do not come to fruition. In a market with major setbacks, it is normal to have some distrust of certain developments that have no basis. That is why the applications for real life must be observed, in order to be able to carry out a correct and accurate evaluation.

One of the parameters to observe is the technology applied and what solutions that specific project is providing. Therefore, it is necessary to stay away from those developments that do not offer anything in particular. Within the Algorand ecosystem we have a large number of projects that are providing real solutions, therefore it is an indication of the true potential they have.

We must not lose sight of the fact that blockchain is an underlying technology, which must be used for the deployment of projects. Therefore, another parameter to evaluate a network is to observe the development of its ecosystem, and analyze the solutions that the different projects that are in it are providing. Algorand has incredible potential to generate change in various fields.

Current context

It is no longer news that we are going through adverse times, with a totally unfavorable global context. Not only are new technologies suffering convulsions, but this phenomenon is expanding to a large number of industries, due to the general problems that occur in the world. However, one of the indicators to which we must pay attention is the continuity of the developments.

We have witnessed a great deal of bewilderment in the blockchain industry due to catastrophic events occurring on different platforms. In Algorand, the positive thing is that the vast majority of the projects continue to be built, which confirms the support that these developments have with respect to their services. We must bear in mind that logically not everything within the blockchain ecosystem will prosper, as in all industries, therefore an analysis must be carried out on each particular case in order to make the right decisions.

The year 2022 is coming to an end, and it is a good time to reflect on the issues that have occurred, and to be aware that there are projects and blockchains with little support. Ultimately we will always have to make decisions, which is why another of the advantages of Algorand is the large amount of information available to be able to have a broad panorama.

Robust ecosystem that provides real solutions

Since Algorand offers incredible blockchain technology with great benefits, a robust ecosystem that presents disruptive projects, capable of delivering tangible products, has quickly flourished. In Latin America, a large number of developments have prospered that are an example of how a correct application of technology can generate solutions for people’s lives.

Mainly in LATAM countries, blockchain technology is capable of offering an alternative to provide simpler procedures for different operations. We can name the case of Agrotoken as an example, which allows different types of grains to be tokenized, and that users can use them to support purchases of goods and services.

Another of the most recent Latin American projects is TravelX, which makes it possible to tokenize the air ticket industry, providing a large number of benefits for passengers, such as being able to easily change flight dates by exchanging places with other users.

It is very interesting to see how over time a large number of developers use Algorand technology to generate innovative projects capable of solving everyday problems. Despite the events we are going through, the technological evolution of the blockchain industry continues at an accelerated pace.

Conclusion

In difficult moments like the ones we are going through, it is clear that only the projects that can provide solutions in daily life will be the ones that continue standing. Within the Algorand ecosystem, we can find a large number of disruptive developments that are proof of technological evolution, being tangible use cases with real foundations.

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