Introduction

What is Algorand?

Algorand (ALGO) is a blockchain platform and cryptocurrency designed to function like a major payments processor. ALGO, the native coin of the Algorand platform, is used to secure the platform and reward the platform's operators. The Algorand blockchain offers immediate transaction finality, without the risk of forking or uncertainty, based on its pure proof-of-stake (PPoS) consensus algorithm. Once created, each new block remains on the chain indefinitely, thus ensuring that all transactions in this blockchain remain final.

Methodology

• We will look at new users on Algorand and whether they have transacted in May of 2022.

• We are only looking for wallets holding over 1 ALGO.

• We are looking to see how many new active uses are joining the network.

New Algorand Wallet metrics

Observations

• Only about 9% of Algorand user hold more than 1 ALGO have transacted in the month of May

• about 10% of new users in the past year are consistently using algorand and about 5% of new users from over one year ago are still using algorand.

Conclusion

• The most common asset new users are interacting with is USDC and it makes up nearly 50% of the ASA they buy.

• about 10% of new users in the past year are consistently using algorand and about 5% of new users from over one year ago are still using algorand.