Algorand Celebrates 5th Anniversary with 2 Billion Transactions and Record Adoption of Real-World Use Cases at Annual Decipher Conference

The Algorand Foundation, a nonprofit on a mission to power a world where information has integrity and innovative ideas can scale, hosted its annual Decipher event

The Algorand Foundation, a nonprofit on a mission to power a world where information has integrity and innovative ideas can scale, hosted its annual Decipher event, a gathering of hundreds of investors, developers, and partners from around the world to celebrate the vibrant ecosystem. From global finance and supply chain to real estate and humanitarian aid, Algorand blockchain technology is powering the next-generation of real-world applications. Showcasing the refreshed brand, the new website at Algorand.co is the central hub for our protocol and ecosystem.

"The energy at Decipher was contagious! We're amazed by the creativity and technical prowess of our community and all of the innovative products they've built on Algorand," said Staci Warden, CEO of the Algorand Foundation. "They're bringing the blockchain to life, and we encourage them to channel that enthusiasm into building and scaling their dreams. And we promise to keep investing in the resources they need to succeed."

Algorand is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput, and low fees. All of these characteristics mean it is purpose-built for real-world scale; and developers, entrepreneurs, and enterprise partners all benefit from its institutional-grade certainty and resilience.

The Algorand blockchain hit two billion successful transactions since inception in June 2019. In Q1 2024 alone, it ranked among the top 3 most popular blockchains by transaction volume.

Other notable statistics:

On January 1, 2024 Algorand reached an ATH of 43 million transactions in a single day, and the network performed flawlessly. [1]

On May 17, 2024 it achieved a record of 5,716 transactions per second (TPS) , ranking among the top 3 blockchains by max recorded TPS. [2]

In Q1, the Algorand blockchain processed 403 million transactions, a 288% increase from Q4 2023.

In the first quarter, Algorand gained 1 million new accounts, bringing the total to 35 million, with an average of 800k monthly active users. [1]

Algorand concluded the first quarter of 2024 with a DeFi TVL of 1 billion ALGOs and has been maintaining this level throughout subsequent months. [3]

To improve access to real-time data and insights about the Algorand blockchain, the Foundation is partnering with data analytics provider Nansen, and expects the first dashboards to go live this summer.

Data Source References

[1] https://metrics.allo.info/[2] https://chainspect.app/dashboard[3] https://defillama.com/chain/Algorand?currency=ALGO

Following key initiatives were announced at the event:

Global fintech and web3 companies including Algorand Foundation, UNDP, Worldpay, Circle, HesabPay, Mercy Corps Ventures and others, unite to increase blockchain-based cash assistance for humanitarian crises.

Archax makes abrdn money market fund accessible and transferable on Algorand blockchain using Quantoz EURD electronic money token.

123carbon secured a 135.000t CO2e contract, one of the largest issuance of Transport related insets in the world, all registered on the Algorand blockchain.

LabTrace completed the first study using its blockchain-based data authentication system, designed to ensure data integrity in clinical trials.

Finboot switched to Algorand to power its supply chain traceability solution due to Algorand's scalability and energy efficiency.

Kare Survivor Wallet will deliver rapid financial assistance to disaster survivors across the United States as part of the American Response and Resiliency Program, launched with the National VOAD and DSC, SVDP-USA.

Circle's USDCa stablecoin on Algorand is now available through Coinbase.

Ecosystem companies are thriving, from AI and identity to DeFi and NFTs:

Pera and Immersve announced a partnership to bring non-custodial debit card options to Algorand users.

Folks Finance announced the upcoming launch xChain, an application that will operate cross-chain and xALGO Liquid staking products, which allow users to participate in Algorand consensus and accrue rewards seamlessly and securely.

Algorand is also now home to Dised, a blockchain-based AI marketplace that makes exchanging AI services, products and data more transparent.

CompX announced a further push into RWA by integrating with Lofty to bring the benefits of auto-compounding and yield optimization to more users on-chain.

Tinyman, the top DEX on Algorand by TVL, volume, and active users, announced that its TINY