Algorand has released an advertisement criticizing Ethereum and Solana for their high costs and slow speeds.
The Algorand Layer-1 blockchain published an advertisement criticizing Ethereum (ETH) and Solana (SOL) for their high prices and poor speeds. According to the advertisement, Algorand is a superior alternative that is characterized by its speed, cheap cost, and efficiency.
Algorand Takes L1 Rivalry To New Level
Over the last several years, Algorand, once widely regarded as one of the most prestigious blockchain networks has begun to lose its shine.
The blockchain experienced a setback in part because of the introduction of more well-known competitors, such as Solana, which received significant backing from the industry.
The cryptocurrency analytics platform DeFiLlama reports that Algorand currently has a total value locked (TVL) of 156 million dollars in cryptocurrency. We estimate the total value of Ethereum’s tokens (TVL) to be $117.85 billion, and the value of Solana’s tokens to exceed $10 billion.
It is possible that the advertisement is Algorand’s attempt to alter its perspective, as it suggests that it is able to support a greater number of commercial transactions.
A grocery store serves as the backdrop for the advertisement, which displays a variety of checkout counter activities. One of the customers at the shopping center expressed interest in using Bitcoin (BTC) as a form of payment. In addition, two more people attempted to use Ethereum and Solana.
On the other hand, the transactions concerning these alternate blockchains were unsuccessful.The shopping center clerk informed the Bitcoin payer that processing the transaction could take up to 27 minutes.
Additionally, she advised the Ethereum payer that the total cost for just three products was $112, which was based on the “peak hour gas thing.” While there were multiple instances of the Solana-domiciled payment failing, there was another queue where people were paying with Algorand’s ALGO, and it moved at a very reasonable pace.
Adverts Becoming the Crypto Message
At this point, Anthony Scaramucci approached the female attendant’s desk and inquired about the process of joining the moving line. The cryptocurrency ecosystem is rapidly adopting the practice of advertising on television, in the streets, and on social media platforms.
During the Super Bowl event in 2022, several cryptocurrency exchanges showcased their advertisements, but the crypto winter temporarily dampened their enthusiasm.
In the months leading up to the regulatory approval of the spot Bitcoin ETF in January, the culture made a comeback. Each of the issuers, including Bitwise, BlackRock, and Grayscale Investments, discovered a means to engage with the audience they specifically aimed to reach. Algorand’s most recent advertisement has captivated the community.
This is especially true because it caught the reality of transactions on Ethereum, as well as the unforeseen congestion difficulties that occurred on Solana.