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Why Vybe Decided to Build on Algorand

“Because it’s fast, cheap, and works.” – Vybe Business Development Manager Blake Marum. Phoenix, Arizona – Vybe Crypto is building a social...
Why Vybe Decided to Build on Algorand Why Vybe Decided to Build on Algorand

“Because it’s fast, cheap, and works.” – Vybe Business Development Manager Blake Marum.

Phoenix, Arizona – Vybe Crypto is building a social media mining app for content creators. The app connects a user’s social media sites to their Alogrand wallet and automatically deposits a cryptocurrency token, called VYBE, into their wallet for every like, heart, and upvote they get on their sites. The app tokenizes likes, so that users can capture and convert value.

“It basically takes your heart emojis,” Vybe Project Manager Arman Kapoor said, “and puts them in your wallet. This way, you can move them around and convert them to other assets. Microtransactions like this aren’t possible with banks and credit cards, but are with blockchains and crypto.”

Vybe chose to build this app on the Algorand blockchain. The VYBE token is minted on the chain.

“We picked Algorand,” Marum explained, “after researching several chains. We looked, specifically, at how fast, cheap and dependable each is. Algorand was the best for us by far. Frankly, it didn’t take that long to decide.” Marum added, “Our app runs on code that automatically deposits VYBE in users’ wallets once a day. So we’ll have to make a lot of transactions. Ethereum, for example, we love it, but if we have to send 10,000 transactions a day, this costs, at current rates, about $15,000 a day on Ethereum and $3 a day on Algorand. That turns into $450,000 a month on Ethereum vs $90 on Algorand.”

Marum noted that Algorand’s transactions also take a few seconds and cost the same each time – .001 Algo. “It’s hard to budget expenses for 10,000 transactions when you don’t know what the transaction fee will be in six months – or six hours.”

At least two other blockchains that Vybe considered building on had significant breakdowns last month. One shut down several times, which caused users to question how decentralized it is, and the other, Luna, collapsed completely.

When asked about the cons of Algorand, Vybe’s Lead Developer, Ravi Dhar, said, “Most blockchain devs are using solidity and building on Ethereum or Solana. Ethereum also has a big community with pre-existing users and marketing help… It’s more mature. So this makes it easier to support and grow a new project. All of Algorand’s major DEXs, for example, just came online recently, and they don’t have the same liquidity or publicity as sites like OpenSea. So, as developers, we’ve had to learn some new tools, but the Algorand community is very helpful. It’s worked well for us so far. We hope our apps make it even better.”

Vybe plans to release their social media mining app on 1 August. After establishing a user base and distributing some tokens, they plan to build a follow-on app in 2023 that, “is like the Pokemon Go of crypto.” Vybe has an Early Adopter program open now. It closes on 1 August. You can read more about it here. You can also read more about their team here, and their whitepaper here.

“It’s exciting to be tokenizing things that haven’t been tokenized yet,” Vybe Developer Akhilesh Prabhakar said, “It’s exciting to be integrating blockchain tech into centralized sites to capture the value and see what happens.”

Continue reading on DailyCoin

Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
29-03-2024 01:39:02 (UTC+7)

EUR/USD

1.0793

-0.0033 (-0.30%)

Summary

Buy

Moving Avg:

Buy (6)

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Indicators:

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Sell (2)

EUR/USD

1.0793

-0.0033 (-0.30%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

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GBP/USD

1.2622

-0.0016 (-0.13%)

Summary

↑ Sell

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USD/JPY

151.38

+0.06 (+0.04%)

Summary

↑ Sell

Moving Avg:

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AUD/USD

0.6517

-0.0016 (-0.24%)

Summary

↑ Sell

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USD/CAD

1.3539

-0.0028 (-0.21%)

Summary

Neutral

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EUR/JPY

163.34

-0.41 (-0.25%)

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EUR/CHF

0.9731

-0.0055 (-0.56%)

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Gold Futures

2,240.40

+27.70 (+1.25%)

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Silver Futures

24.948

+0.196 (+0.79%)

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Copper Futures

4.0107

+0.0107 (+0.27%)

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Crude Oil WTI Futures

83.08

+1.73 (+2.13%)

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Neutral

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Brent Oil Futures

86.92

+1.51 (+1.77%)

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Natural Gas Futures

1.757

+0.039 (+2.27%)

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US Coffee C Futures

188.53

-2.12 (-1.11%)

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Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

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S&P 500

5,251.63

+3.14 (+0.06%)

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Neutral

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DAX

18,504.51

+27.42 (+0.15%)

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FTSE 100

7,952.62

+20.64 (+0.26%)

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Hang Seng

16,541.42

+148.58 (+0.91%)

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Neutral

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US Small Cap 2000

2,120.85

+6.50 (+0.31%)

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↑ Sell

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IBEX 35

11,074.60

-36.70 (-0.33%)

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BASF SE NA O.N.

52.930

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Bayer AG NA

28.43

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Buy

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Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

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Adidas AG

207.00

+2.30 (+1.12%)

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↑ Buy

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Deutsche Lufthansa AG

7.281

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Summary

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Siemens AG Class N

176.96

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Deutsche Bank AG

14.582

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 EUR/USD1.0793Buy
 GBP/USD1.2622↑ Sell
 USD/JPY151.38↑ Sell
 AUD/USD0.6517↑ Sell
 USD/CAD1.3539Neutral
 EUR/JPY163.34↑ Sell
 EUR/CHF0.9731↑ Buy
 Gold2,240.40↑ Sell
 Silver24.948↑ Sell
 Copper4.0107Neutral
 Crude Oil WTI83.08Neutral
 Brent Oil86.92Neutral
 Natural Gas1.757Neutral
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,251.63Neutral
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.85↑ Sell
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,880/ 8,050
(0/ 0) # 1,398
SJC HCM7,900/ 8,100
(0/ 0) # 1,450
SJC Hanoi7,900/ 8,102
(0/ 0) # 1,452
SJC Danang7,900/ 8,102
(0/ 0) # 1,452
SJC Nhatrang7,900/ 8,102
(0/ 0) # 1,452
SJC Cantho7,900/ 8,102
(0/ 0) # 1,452
Cập nhật 29-03-2024 01:39:04
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ↀ Giá vàng thế giới
$2,220.46+29.441.34%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.86+5.220.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
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