Project : Algorand

Bounty Name : ALGO NFT Tooling

Question: We’ve launched our new Algorand database. Now let’s build some tools for the ecosystem! Using the new Algorand.NFT schema in your build, create a dashboard or tool that helps Algorand NFT traders learn about the ecosystem. Get creative, the sky's the limit!

Date of analysis : 2022-11-12

Algorand blockchain explained

Algorand is an autonomous, decentralized blockchain network. It offers a wide range of secure, efficient and scalable applications. It was built for the financial future and the world's first pure proof-of-stake (PoS) fundamental blockchain. But what is Algorand used for?

Algorand's technology provides a collection of high-performance layer 1 blockchains that offer security, scalability, privacy and transaction finality. A layer-1 blockchain is a collection of solutions that improve the fundamental protocol to make the system more scalable. The consensus protocol changes, as well as sharding, are the two most prevalent layer-1 options.

Algorand was founded by Silvio Micali, a professor of computer science at the Massachusetts Institute of Technology in 2019. Silvio co-invented many breakthroughs at the heart of modern cryptography, such as verifiable random functions, zero-knowledge proofs and other protocols. Silvio launched Algorand in 2017 with the primary goal of overseeing significant research projects in theory, security and crypto finance.

The Algorand blockchain is managed by the Algorand Foundation and is available to any company or individual that wants to use it. Performance, interoperability and scaling as well as layer-2 smart contracts and private and public models are at the forefront of Algorand's technical innovation development. Additional functionality like payment scalability and off-chain computing can be provided by layer-2 scaling solutions.

Algorand scales to many users and confirms transactions with latency on the order of a minute. Even if some users are malicious and the network is momentarily partitioned, Algorand assures that users will never have contradictory views of confirmed transactions. On the other hand, existing cryptocurrencies allow for temporary forks and require a considerable period to verify transactions with high confidence on the scale of an hour. source

NFT

An NFT is a digital asset that can come in the form of art, music, in-game items, videos, and more. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. The market for NFTs was worth a staggering $41 billion in 2021 alone, an amount that is approaching the total value of the entire global fine art market.

NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.

This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand.source

Methods

Tables I use : I use algorand.nft.ez_nft_sales for NFTs Sales and i count distinct tx_group_id for number of sales and i count distinct purchaser for number of buyers and i count distinct nft_asset_id for number of NFTs traded and I sum total_sales_amount for Volume of Sales.

Sales Status Overtime

Thanks for reading

• All data used are from: Flipside Crypto

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• My Twitter: Sepehrmhz8

NFTs Price

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Most Popular NFTs

Buyers Status

Top NFTs Holders