Introduction

What is Algorand?

Algorand is a blockchain that has its own cryptocurrency, ALGO. It has some special features for instance finality that means once something is added to the blockchain it cannot be removed. The blockchain itself works as a payment processor and one of the major benefits as well is that it only takes one ALGO to begin staking and earning rewards, while also keeping the blockchain secure.

Methodology

• Look into the difference between the middle of 2021 through the middle of 2022 in the metrics of:

• Distinct users per day

• Total Tx Blocks

• Total Fees

Unique Users Comparison

In these two graphs we are going to compare the difference between the unique users using Algorand applications everyday. The first thing that we should notice is that on both graphs there are major spikes and that is followed by a long time with very few unique users. On the second half of 2021 we can notice that until almost November there were no spikes at all. What we can see is that this trend has continued into the new year. It would definitely seem that the first half of 2022 has been more active than the last half of 2021. Why is this? The spikes have been higher at some points nearly double to what the spikes in 2021 are. This is good news for Algorand because it shows a development of usage and that will hopefully continue and lead to more consistent usage not just higher spikes.

Fees Comparison

When looking into the total fees each day it follows the same trend that we saw in distinct users in 2021. Until the beginning of October the fees were very low just like usage, but it continued to ramp up. As the fees ramp up during the end of last year they continue into this year and that trend is very important to notice. This would indicate that the application usage has probably stayed consistent or at least increased during this time.

Conclusion

• During 2022 the total use of applications has declined

• Around the new year there was a huge spike of application usage

• Although the use of applications has decreased there has been much more usage during the beginning to middle of this year than at the beginning of last year

TX Blocks

This is going to look at the total tax blocks each day and this will help us know how many different applications are being called and used each day. It seems that at the middle of last year there was not a lot going on as we know and then as it got closer to the new year more tx blocks were being counted each day and as the new year has gone on the total has dropped, but it has still stayed relatively high especially to how the middle of the year was last year.