Ethereum

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

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Layer 1 blockchain network Algorand criticized Bitcoin, Ethereum, and Solana in its latest advertisement, stating that all three are inefficient for everyday use.

The Algorand Foundation launched a new announcement on May 23, calling it “when blockchains meet the real world, only one delivers.” In the ad, three shoppers are shopping in a supermarket. Each buyer tried to pay with one of the aforementioned cryptocurrencies.

Speaking to the customer trying to pay with Bitcoin, the cashier points out that they would have to wait 27 minutes for the transaction to be completed. A direct reference to Bitcoin’s often long wait times for transaction finality.

The customer paying with Ethereum was charged $112, with the cashier telling them it was peak network hours, resulting in high gas fees.

Meanwhile, the Solana guy, played by Algorand CTO John Woods, is seeing his transactions fail, referencing the network’s past challenges with outages.

The commercial ended with the appearance of entrepreneur Anthony Scaramucci, who is one of donors of Algorand, asking how he could join the Algorand lineage. Buyers have been shown to achieve instant finality at significantly lower fees.

With the ad having been viewed more than 740,000 times at the time of its publication, reactions from the community were mixed. While many users appreciated the ad, some welcomed the decision.

An user called Algorand for funding expensive advertising but not its AlgoExplorer, which closed in January 2024. Interestingly, the reason behind this decision, as the foundation stated, was a “lack of funding.”

“Algorand runs 21 TPS, can’t fund its main explorer but loses over $100,000 on an ad,” another user wroteechoing similar sentiments.

Crypto commentator MartyParty also criticized the ad, saying what was shown regarding Algo Rand’s effectiveness was not true.

Meanwhile, crypto analyst fiskantes.lens commented that negative ad campaigns about competitors at this early stage of the adoption cycle was a “very weak move.”

He further added that any “high TPS shadow chain” could make the same claims as Algorand, but the real test comes when it is faced with substantial usage.

Scaramucci was also called out on X after some users pointed out his hypocrisy in a May 24 post about anticipation of a Solana ETF, just hours before the announcement was released.

At the time of publication, Algorand ALGO native token was down 3.1% over the past 24 hours, down 95% from its all-time high of $3.56 reached in June 2019.



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