In the new computing era, blockchain technology is laying the foundation for building new digital ecosystems. Algorand provides a complete development platform for creating decentralized applications and projects in a sustainable way.
Blockchain is a disruptive underlying technology that is generating the necessary conditions for the development of innovative projects. Currently web applications work on a weak network, where security is often compromised, leaving them exposed to constant hacking. Thanks to blockchain networks, this now has another approach, since blockchains are virtually incorruptible.
From the emergence of this technology to the present, there are first and second generation networks, such as Bitcoin or Ethereum. The existing issue in this type of networks is that they are not scalable, nor can they guarantee complete decentralization with adequate security parameters. Another drawback of this type of network is that it is slow and expensive for daily transactions, being practically impossible to apply for day-to-day operations.
In response to these problems, new generation blockchain networks arise, where the protocols are adjusted to adapt to daily market conditions. Algorand falls into this category, providing incredible speed to complete operations, low costs, decentralization, and guaranteed security.
Humanity in its evolution has often neglected ecology, carrying out activities that have been harmful to the planet. This is why we must move towards a model that allows technological development, but which in turn is sustainable with the environment. In other words, we must arbitrate the necessary means to generate the least possible environmental impact.
The first blockchain protocols used the so-called proof of work (PoW), where the «miners» perform mathematical calculations with their hardware, in order to generate new blocks in the network. This approach consumes a large amount of electricity, which, although it can be remedied by generating sustainable energy, such as wind or solar, also demands a large amount of electricity, which could well be used by other sources.
Algorand, seeking a solution to this issue, developed the pure proof of stake (PpoS) protocol, which does not require computing power to solve mathematical puzzles. On the contrary, this protocol uses network consensus through “committees”, formed by random selection among the participants, for the validation of transactions and the generation of new blocks. As a result, this blockchain has been awarded as «negative carbon» for its zero emission of pollutants.
dApps through a sustainable platform
The benefits provided by Algorand allow the projects that decide to develop on its platform to have the support of a robust network that maintains a firm commitment to the environment. This is crucial on the way to the new Web3 era, where paradigms are changing towards models more committed to ecology and humanity in general.
Another issue that has been questioned is the one that has to do with users, where current platforms place them as mere consumers. Through new generation platforms, people are at the center of the issue, providing a more transparent environment for them, while giving them a more active role in decision-making, through «governance» programs.
This is how the projects found in the Algorand network provide advantages for both developers and users. For the first ones, they are offered features that are not present in other blockchains, and for the latter, they are guaranteed a reliable platform and applications.
Undoubtedly, Algorand is an ideal sustainable network for the generation of projects that share ideals and commitments to the environment, as well as to humanity. This blockchain is suitable for both developers and users, who will be able to play a crucial role in future projects for Web3.