What does the Cardano team think of Algorand protocol?
Some resources in this regard:
Charles already spoke to this. “Finally we have some real competition.”
Must be good for Charles to say their competition. Arrogant as it sounds I’ve used it (Algo) and it’s damn fast!
Algo seems very similar to EOS. I have an account on EOS, and I’ve enjoyed learning more about it.
I’ll need to get an Algo account to.
I had EOS. Not a fan. I dumped all of it. Charles made some comments about EOS and never once did he refer to that project as “real competition.” I don’t think they are the same at all based on the available literature.
Just like Casper, Algorand still requires more than 67% of honest participants in the proof of stake protocol, while Genesis requires 51% same as bitcoin. In this regard, it is considered more secure.
For me a big difference is going to be in efficiency. With random lottery you can only reasonably assume a minimum from whoever is selected since it could basically be anyone. With staking pools and random lottery from a selected group you can assume more when it comes from throughput. 2nd model is more suitable for smart contracts but has some more weakness points in that networks of popular staking pools could be known. I believe you can also make a hybrid of both models with sharding techniques. I think that is where the future is headed with the store of value random lottery based and the altcoins with smart contracts based on pools.
I’m loving it. Staking rewards daily, low price, great opportunity. If Shelley and CB had passed, I would have sold all of my ADA for Algo.