Algorand - Where to start?

Hello Everyone,

I sent a message to “Liz” the other day (shown as an Admin on here) as to what I can do to be a bigger part of this project. I have not received a response from her as of yet. I’m interested in learning how I can effectively use Algorand myself and what impact it can have on a users everyday life like myself.

How/where can I find value within using Algorand? Do you need to be a developer of some sort to use it’s functionality?

If anyone wants to comment on this and help give me some guidance, It’d be much appreciated.
I often come across interesting projects and want to understand their functionality rather than just investing in them for money.

Let me know your thoughts.

Thank you.

Algorand

PROs:
Proof of stake network
4.4 sec block creation time
No forks (Or, P=10**-9, very small probability)
max. 1000 tps, transactions per second

CONs:
very little capitalisation, 1/1000th of Bitcoin
financially very fragile
Vault technology not yet available
ASC2 (smart contracts) not yet available

Fact:
network is practically UNUSED now (5000 tx per DAY)

My project proposal:
build on human VANITY, store facts – e.g. top player records

Another projet proposal:
One or two year ago Cryptokitties, a breeding game was very popular on the
Ethereum blockchain, but soon caused network congestion, because ETH has a 20 tps limit.
A game like that could be ported to Algorand, just to test it.

Another project proposal:
make a faucet, where you can get 0.1 Algos for some small tasks
To make that, supporters are required – what about you, Geno?

This sounds like a lot is up in air.

Shed some light on these points if you can so I can understand them better -

“financially very fragile
Vault technology not yet available”

What about me? I don’t know. I’m trying to figure out the full value of what Algorand has to offer. In order to do that, I need to understand what separates it from others that do something similar. Then I would need to understand how it would get adopted and recognized by bigger players.

Hi @Geno,

the better thing to do when you want to learn about something it’s to “get your hands dirty” on it!

So Algorand Developer Docs offers a very good tips to start taking your first steps forward into Algorand. There is a plenty of SDKs if you are already capable of write some code in Java, JavaScript, Python or Go.

But this is not the only way.

What I suggest you is to start installing your first node and make experience on it. Just from your Command Line (CLI) you can interact with Algorand blockchain in many ways:

  1. Create your accounts
  2. Submit your first transactions
  3. Create your own Algorand Standard Asset and manage it
  4. Create Multisignature Accounts
  5. Participate in the Pure Proof of Stake consensus protocol

Once you feel confident whit these steps, you may move further steps forward writing a simple Algorand Smart Contract in TEAL (or use the PyTEAL tool if you are familiar with Python).

Doing this you will have a deeper understeand on Algorand working principles and starting to figure out what kind of applications you may develop on it.

Install your node first!