Solana

Algorand

Foundation

<p class="is-style-lead">Layer-1 blockchain network Algorand has critiqued Bitcoin, Ethereum, and Solana in its latest ad, indicating the three are inefficient for day-to-day use.</p> 
<p>The Algorand Foundation dropped a <a href="https://x.com/marcvl/status/1793626440145191235" target="_blank" rel="">new ad</a> on May 23, calling it “when blockchains meet the real world, only one delivers.” In the ad, three shoppers are featured checking out at a supermarket. Each shopper was trying to pay with one of the aforementioned cryptocurrencies.</p> 
<p>Speaking to the customer trying to pay with Bitcoin, the cashier remarks that he would have to wait 27 minutes for the transaction to be executed. A direct reference to Bitcoin’s often long waiting times for transaction finality.</p> 
<p>The customer paying in Ethereum was charged $112 dollars, with the cashier telling him that it was peak hours for the network, resulting in high gas fees.</p> 
<p>Meanwhile, the Solana guy, played by Algorand CTO John Woods, sees his transactions failing time, referring to the network’s past challenges with outages.</p> 
<p>The ad concluded with the appearance of entrepreneur Anthony Scaramucci, who is one of the <a href="https://crypto.news/politicians-and-investors-weigh-in-on-global-economy/" rel="">backers</a> of Algorand, asking how he could join the Algorand line. Shoppers were shown as reaching instant finality at significantly lower fees.</p> 
<p>With the ad garnering over 740,000 views at the time of publication, the reactions from the community were mixed. While many users appreciated the ad, some commended the move.</p> 
<p> You might also like: <a href="https://crypto.news/john-bollinger-warns-of-potential-pullback-amid-bitcoins-price-surge/" rel=""> John Bollinger warns of potential pullback amid Bitcoin’s price surge </a> </p> 
<p>One user <a href="https://x.com/0xMert_/status/1793676150847447539" target="_blank" rel="">called out</a> Algorand for funding a costly ad but not funding its AlgoExplorer, which shut down in January 2024. Interestingly, the reason behind the move, as stated by the foundation, was a “lack of funding.”</p> 
<p>“Algorand runs 21 TPS, can’t fund its main explorer but drops $100k+ on an ad,” another user <a href="https://x.com/oyacaro/status/1793673446184174072" target="_blank" rel="">wrote</a>, echoing similar sentiments.</p> 
<p>Crypto commentator MartyParty also criticized the advert, claiming that what was shown regarding Algo rand’s efficiency was not true.</p> 
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   <p lang="en" dir="ltr">I verified: This never happened.</p>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1793672036226937040?ref_src=twsrc%5Etfw" target="_blank" rel="">May 23, 2024</a>
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<p>Meanwhile, crypto analyst fiskantes.lens <a href="https://x.com/Fiskantes/status/1793670144021164131" target="_blank" rel="">commented</a> that negative ad campaigns about competitors at this early stage in the adoption cycle were a “very low move.”&nbsp;</p> 
<p>He further added that any “high TPS ghostchain” could make the same claims as Algorand, but the real test comes when it faces substantial use.</p> 
<p>Scaramucci was also called out on X after some users pointed out his hypocrisy in a May 24 post about anticipating a Solana ETF, just hours before the ad dropped.</p> 
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   <p lang="en" dir="ltr">We are going to get a <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$SOL</a> ETF get ready.</p>— Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1793802801606279418?ref_src=twsrc%5Etfw" target="_blank" rel="">May 24, 2024</a>
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<p>At the time of publication, <a href="https://crypto.news/?s=Algorand" rel="">Algorand’s</a> native token ALGO was down <a href="https://www.coingecko.com/en/coins/algorand" target="_blank" rel="">3.1%</a> over the past 24 hours, down 95% from its all-time high of $3.56 reached in Jun 2019.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/qcp-capital-spot-ethereum-etf-approval-may-boost-prices/" rel=""> QCP Capital: spot Ethereum ETF approval may boost prices </a> </p>

Algorand slams Bitcoin, Ethereum, and Solana in new ad, community reacts

crypto.news

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