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#Algorand Con-Arguments Below is a Algorand con-argument written by a deleted user. > ####**Smart contracts are not yet trustless** > > EVM blockchain explorers (like EtherScan) allow smart contract creators to publish and verify their smart contract code. This allows users to trustlessly audit them and interact with them in a safe and decentralized way. > > In contrast, Algorand's blockchain explorers do not show verified code. At most, they only show [decompiled code](https://algoexplorer.io/application/971388781), through which you can only guess how the smart contract works. And there's no method to interact with them trustlessly. You have to trust the developer's app. > > ####**Small dApp community** > > Algorand TVL is [currently only $240M](https://defillama.com/chains). Even an L2 rollup like Arbitrum has 4x its TVL, and Ethereum is 340x times larger. > > Algorand only generates [$100k of revenue from transactions fees annually](https://tokenterminal.com/terminal/projects/algorand). That's enough to pay for 1 engineer's salary. > > It also doesn't help that Algorand's smart contract interpreter, AVM is very different than Ethereum's EVM, so there's a barrier to switch from Solidity to PyTeal. > > ####**Algorand CEO Staci Warden has a history of immature tweets** > > * That mysterious [NIKE](https://u.today/algorand-ceo-debunks-nike-partnership-details) tweet which turned out to be nothing > * [Tweeting like a teen with bad grammar](https://twitter.com/StaciW_DC/status/1568607639717957634) about losing USDC on Hodlnaut. And why are they even storing important Foundation funds on a CeFi platform in the first place? > > ####**Low Decentralization** > > Algorand has 2500 participation nodes, but there are several other metrics that tell a different story. > > * **Very few nodes actually participate in consensus**: Over the past 7 days (~150k blocks), only [190 voters participated in consensus](https://metrics.algorand.org/#/decentralization/). Unlike Ethereum, in which EVERY staking validator participates in Casper FFG consensus, Algorand [picks voters based on their stake](https://developer.algorand.org/docs/get-details/algorand_consensus/#the-algorand-consensus-protocol), and only a few are included in their leader and voting committees. > * **Relay Nodes**: Algorand Foundation manages a secret list of relay nodes responsible for forwarding transactions to the participation nodes. It's fine as long as there are a few honest relay nodes not censoring blocks. What's concerning is that the Algorand Foundation [used to publish a number of 100-120 relay nodes](https://np.reddit.com/r/AlgorandOfficial/comments/ku4brb/algorand_relay_nodes_public_data/), but they have since scrubbed all information about the number and identity those relay nodes. > > **Governance is for unimportant decisions on reward distributions, not for protocol updates** > > Algorand often markets that it has governance. But [the elections have only been used to vote on community rewards distribution](https://governance.algorand.foundation/), and they're very minor changes. Governance is also coordinated entirely the Algorand Foundation. > > I have never found any information voting being used for Algorand updates, which suggests that there is no public vote for protocol-level decisions. > > ####**Questionable long-term economic sustainability of its security model** > > **Constantly-changing plans** > > As much as I like Algorand's technology, its tokenomics suck. The more I study Algorand's tokenomics, the more I feel that it's a decade-long rug pull. > > First, the Algorand Foundation keeps changing the rewards system and tokenomics model: > > * They attracted node runners (early relay nodes) with billions of dollars of rewards, set to last until 2024. > * They attracted stakers and participation nodes with rewards to last until 2022. > * They then attracted community participation with Governance rewards starting in late 2021 that is currently scheduled to run out in 2030. > * At one point, there were discussions about re-introducing rewards for community relay nodes after community complaints. > > I compare their documentation with [my previous notes](https://np.reddit.com/r/MPlankton/comments/v16v7v/algorand_research_may_2022_draft/) from mid 2022, and many of the links they originally published have been replaced. Their notorious "Long Term Algo Dynamics" page, referenced as the "[New, Longer Term Algo Dynamics Model](https://www.algorand.foundation/news/new-algo-dynamics-overview)" is now old. It redirects to [a new, new model](https://www.algorand.foundation/tokenomics) which still doesn't fix their tokenomics. They seem to be changing decisions on a whim, chasing after whatever gets the most bad publicity at the time. > > **No Plans after 2030** > > Algorand Foundation's plans for [long-term economic sustainability](https://forum.algorand.org/t/serious-lack-of-transparency-and-engagement-of-algorand-foundation/2385/10) have been put off until 2030. It originally designed for Algo's 10B supply to be distributed over 6 years, with relay nodes being rewarded until 2022. That plan was scrapped and remade in Dec 2020 to extend the deadline to 2030 with rewards for relay nodes to last until 2024. There are no plans for sustainable rewards past 2030, and Algorand's tokenomics is a ticking time bomb. > > **High Inflation** > > Algorand's circulating supply has uneven inflation due to an accelerated vesting schedule. The actual circulating supply inflation was 141% in 2020, an insanely-high 433% in 2021, and 12.7% in 2022 [source](https://messari.io/asset/algorand/chart/sply-circ). The silver lining is that accelerated vesting is now over, so inflation will be [~5% over the period of 2023-2029](https://assets-global.website-files.com/62835f42aef969049eba0806/62cc37d101a3d91afc30efca_December%202020%20Algo%20Dynamics.pdf), assuming the 10B max supply holds. > > ####**Revenue too low to sustain security** > > Algorand only produces [~$100K annually from transaction fees](https://tokenterminal.com/terminal/projects/algorand), which isn't enough to cover the annual salary of single engineer. If they want to support their current 100 relay nodes, they'll likely need 100x the current fees unless everyone is super nice and **working for free**. > > **Relay Nodes** are maintained by a consortium of early investors, VCs, Universities, and other non-profits until 2024. These are being paid for through multiple rounds of massive grants totaling at least 2.5B Algo (worth billions of USD). Algorand is still the covering costs for future decentralized Relay Nodes through its [Community Relay Node Program](https://www.algorand.foundation/news/community-relay-node-program). > > It currently costs [$5-10K/year to run a cost-effective relay node on AWS](https://np.reddit.com/r/AlgorandOfficial/comments/o4on6e/run_a_relay_node_on_aws_cost_estimation/). Algorand's $100K in annual revenue from transaction fees is enough to cover a single relay node with 1 engineer. It's unsustainable. Do they think that relay node providers, each currently paid $5M annually on average, are going to stick around when they're suddenly no longer getting paid? > > **Participation nodes** are responsible for consensus and don't get paid anything. They have moderately-high [hardware requirements](https://developer.algorand.org/docs/run-a-node/setup/install/): 16GB memory, 100GB NVMe SSD, 1 Gbps dedicated Internet. > > They don't get paid any rewards, and I'm skeptical how reliable that can be with their hardware, energy, and personnel costs. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find submissions for other topics.
You're talking about Python that has a runtime (gc + interpreter that compiles down to x86; this is Python that compiles down to AVM machine code: TEAL. It's not the slow stuff that you're used to.
It seems like magic when they use three different compilers sequentially. This is what I found trying to look into how it works. 1. Python -> 2. Python AST (abstract syntax tree) -> 3. AWST (general high level language AST) -> 4. IR (low level control flow graph AST) -> 5. TEAL -> 6. AVM bytecode
I see your edit, the fact alternate node software exists is irrelevant. You're talking about executing code on your machine to interface with the Blockchain. This is executing code ON the chain in the AVM.
No, Algokit is a set of tools including a CLI and documentation as well as SDKs and other tools. See GitHub: https://github.com/algorandfoundation/algokit-cli >Development: AlgoKit provides SDKs, tools and libraries that help you quickly and effectively build high quality Algorand solutions: >AlgoKit Utils (Python | TypeScript): A set of utility libraries so you can develop, test, build and deploy Algorand solutions quickly and easily >algosdk (Python | TypeScript) - The core Algorand SDK providing Algorand protocol API calls, which AlgoKit Utils wraps, but still exposes for advanced scenarios >Algorand Python: A semantically and syntactically compatible, typed Python language that works with standard Python tooling and allows you to express smart contracts (apps) and smart signatures (logic signatures) for deployment on the Algorand Virtual Machine (AVM). Now who is easily manipulated by summary paragraphs?
#Algorand Con-Arguments Below is a Algorand con-argument written by a deleted user. > ####**Smart contracts are not yet trustless** > > EVM blockchain explorers (like EtherScan) allow smart contract creators to publish and verify their smart contract code. This allows users to trustlessly audit them and interact with them in a safe and decentralized way. > > In contrast, Algorand's blockchain explorers do not show verified code. At most, they only show [decompiled code](https://algoexplorer.io/application/971388781), through which you can only guess how the smart contract works. And there's no method to interact with them trustlessly. You have to trust the developer's app. > > ####**Small dApp community** > > Algorand TVL is [currently only $240M](https://defillama.com/chains). Even an L2 rollup like Arbitrum has 4x its TVL, and Ethereum is 340x times larger. > > Algorand only generates [$100k of revenue from transactions fees annually](https://tokenterminal.com/terminal/projects/algorand). That's enough to pay for 1 engineer's salary. > > It also doesn't help that Algorand's smart contract interpreter, AVM is very different than Ethereum's EVM, so there's a barrier to switch from Solidity to PyTeal. > > ####**Algorand CEO Staci Warden has a history of immature tweets** > > * That mysterious [NIKE](https://u.today/algorand-ceo-debunks-nike-partnership-details) tweet which turned out to be nothing > * [Tweeting like a teen with bad grammar](https://twitter.com/StaciW_DC/status/1568607639717957634) about losing USDC on Hodlnaut. And why are they even storing important Foundation funds on a CeFi platform in the first place? > > ####**Low Decentralization** > > Algorand has 2500 participation nodes, but there are several other metrics that tell a different story. > > * **Very few nodes actually participate in consensus**: Over the past 7 days (~150k blocks), only [190 voters participated in consensus](https://metrics.algorand.org/#/decentralization/). Unlike Ethereum, in which EVERY staking validator participates in Casper FFG consensus, Algorand [picks voters based on their stake](https://developer.algorand.org/docs/get-details/algorand_consensus/#the-algorand-consensus-protocol), and only a few are included in their leader and voting committees. > * **Relay Nodes**: Algorand Foundation manages a secret list of relay nodes responsible for forwarding transactions to the participation nodes. It's fine as long as there are a few honest relay nodes not censoring blocks. What's concerning is that the Algorand Foundation [used to publish a number of 100-120 relay nodes](https://np.reddit.com/r/AlgorandOfficial/comments/ku4brb/algorand_relay_nodes_public_data/), but they have since scrubbed all information about the number and identity those relay nodes. > > **Governance is for unimportant decisions on reward distributions, not for protocol updates** > > Algorand often markets that it has governance. But [the elections have only been used to vote on community rewards distribution](https://governance.algorand.foundation/), and they're very minor changes. Governance is also coordinated entirely the Algorand Foundation. > > I have never found any information voting being used for Algorand updates, which suggests that there is no public vote for protocol-level decisions. > > ####**Questionable long-term economic sustainability of its security model** > > **Constantly-changing plans** > > As much as I like Algorand's technology, its tokenomics suck. The more I study Algorand's tokenomics, the more I feel that it's a decade-long rug pull. > > First, the Algorand Foundation keeps changing the rewards system and tokenomics model: > > * They attracted node runners (early relay nodes) with billions of dollars of rewards, set to last until 2024. > * They attracted stakers and participation nodes with rewards to last until 2022. > * They then attracted community participation with Governance rewards starting in late 2021 that is currently scheduled to run out in 2030. > * At one point, there were discussions about re-introducing rewards for community relay nodes after community complaints. > > I compare their documentation with [my previous notes](https://np.reddit.com/r/MPlankton/comments/v16v7v/algorand_research_may_2022_draft/) from mid 2022, and many of the links they originally published have been replaced. Their notorious "Long Term Algo Dynamics" page, referenced as the "[New, Longer Term Algo Dynamics Model](https://www.algorand.foundation/news/new-algo-dynamics-overview)" is now old. It redirects to [a new, new model](https://www.algorand.foundation/tokenomics) which still doesn't fix their tokenomics. They seem to be changing decisions on a whim, chasing after whatever gets the most bad publicity at the time. > > **No Plans after 2030** > > Algorand Foundation's plans for [long-term economic sustainability](https://forum.algorand.org/t/serious-lack-of-transparency-and-engagement-of-algorand-foundation/2385/10) have been put off until 2030. It originally designed for Algo's 10B supply to be distributed over 6 years, with relay nodes being rewarded until 2022. That plan was scrapped and remade in Dec 2020 to extend the deadline to 2030 with rewards for relay nodes to last until 2024. There are no plans for sustainable rewards past 2030, and Algorand's tokenomics is a ticking time bomb. > > **High Inflation** > > Algorand's circulating supply has uneven inflation due to an accelerated vesting schedule. The actual circulating supply inflation was 141% in 2020, an insanely-high 433% in 2021, and 12.7% in 2022 [source](https://messari.io/asset/algorand/chart/sply-circ). The silver lining is that accelerated vesting is now over, so inflation will be [~5% over the period of 2023-2029](https://assets-global.website-files.com/62835f42aef969049eba0806/62cc37d101a3d91afc30efca_December%202020%20Algo%20Dynamics.pdf), assuming the 10B max supply holds. > > ####**Revenue too low to sustain security** > > Algorand only produces [~$100K annually from transaction fees](https://tokenterminal.com/terminal/projects/algorand), which isn't enough to cover the annual salary of single engineer. If they want to support their current 100 relay nodes, they'll likely need 100x the current fees unless everyone is super nice and **working for free**. > > **Relay Nodes** are maintained by a consortium of early investors, VCs, Universities, and other non-profits until 2024. These are being paid for through multiple rounds of massive grants totaling at least 2.5B Algo (worth billions of USD). Algorand is still the covering costs for future decentralized Relay Nodes through its [Community Relay Node Program](https://www.algorand.foundation/news/community-relay-node-program). > > It currently costs [$5-10K/year to run a cost-effective relay node on AWS](https://np.reddit.com/r/AlgorandOfficial/comments/o4on6e/run_a_relay_node_on_aws_cost_estimation/). Algorand's $100K in annual revenue from transaction fees is enough to cover a single relay node with 1 engineer. It's unsustainable. Do they think that relay node providers, each currently paid $5M annually on average, are going to stick around when they're suddenly no longer getting paid? > > **Participation nodes** are responsible for consensus and don't get paid anything. They have moderately-high [hardware requirements](https://developer.algorand.org/docs/run-a-node/setup/install/): 16GB memory, 100GB NVMe SSD, 1 Gbps dedicated Internet. > > They don't get paid any rewards, and I'm skeptical how reliable that can be with their hardware, energy, and personnel costs. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Algorand) to find submissions for other topics.
It means satoshi lost control of it, But don't sweatf there are now way more better cheaper more efficient ways than satoshis btc . Have you heard of AVM .. NOT. evm L2 ALGORAND IS MAX CAPPED AT 10 BILLION 8.2 BILLION IN CIRCULATION NO MORE AFTER 2030. CANT BE FORKED, quanrun proof ...ALL IS ON Layer 1 even tokens 10k+ Tp/s the founder is s genius was on time man of the year he is the guy who designed zk snarks and since 2019 algo was listed when from ath 3.50 down to 14cent or so now steady between..25-30. I started buyin4 at 14c already 2.5-3x .... I think it's pretty much seen it's bottom . Algo does everything btc was meant to do but even better. Put. Reminder on this post .. when algo is 2 digits before the decimLs only then ppl start to see the the underlying technology. You'll see 😉
I don’t know the nuts and bolts of the implementation. I believe it’s just another layer on top of the low level AVM language. So whatever hooks or functions are necessary to program on Algorand will be available. At some point there must be a build step that compiles Python to the blockchain commands. If you’re interested I know the Algorand CTO released a document online explaining how it works. It’s a good read.