Algorand Pokes Ethereum and Solana In Anthony Scaramucci Featured Ad
The Algorand Layer-1 blockchain has released an advert that slammed Ethereum (ETH) and Solana (SOL) for their high cost and slow speed. The advert pitches Algorand as a better alternative with speed, low cost, and efficiency.
Algorand Takes L1 Rivalry To New Level
Algorand is one of the most revered blockchain networks, however, its luster has waned off over the past few years. The blockchain backtracked in part because more hyped alternatives like Solana made their emergence with major industry support.
Per data from crypto analytics platform DeFiLlama, Algorand currently boasts of a Total Value Locked (TVL) of a $156 million. By comparison, Ethereum’s TVL comes in at $117.85 billion while that of Solana is pegged at over $10 billion. The advert might be Algorand’s efforts to change its outlook as it teases it can facilitate more commercial transactions easily.
— John Woods (@JohnAlanWoods) May 23, 2024
The advert features a supermarket setting with different checkout counter engagements. One customer at the mall said he’d like to make payment with Bitcoin (BTC). Two others tried with Ethereum and Solana as well. However, the transactions for these alternative blockchains failed.
The mall attendant informed the Bitcoin payer that the transaction might take another 27 minutes to clear. Also, she informed the Ethereum payer that based on the “peak hour gas thing,” the cost for just 3 items summed up to $112. While the Solana-domiciled payment failed several times, another queue where customers were paying with Algorand’s ALGO was moving so fast.
It was at this point that Anthony Scaramucci strolled to the female attendant’s desk asking how to get in on the moving line.
Adverts Becoming the Crypto Message
TV, road and social media commercials are fast becoming the order of the day in the crypto ecosystem. While many crypto exchanges shined with their commercials at the 2022 Super Bowl event, enthusiasm died for a while with the crypto winter.
The culture came back in the runup to the approval of spot Bitcoin ETF in January. From Bitwise to BlackRock and Grayscale Investments, each issuers found a way to connect with their target audience.
The latest ad released by Algorand is driving the community abuzz especially as it captured the reality of transactions on Ethereum and the unexpected congestion issues on Solana.
Read More: ‘We Are Building A Crypto Army in Congress’- Sen Cynthia Lummis
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