The Brilliance of Algorand ASAs and Their Many Use Cases - Especially for LARGE-SCALE Projects
You may have seen a post of mine about how to use Algorand and ASAs in digital advertising. I wanted to share a bit more about how unbelievable Algorand is for use-cases OUTSIDE of currency/payments and why I believe large players are more likely (at this time) to choose it or another gen3 blockchain rather than Ethereum.
I'm a big fan of experiential learning. It's what caused me to buy 2 Bitcoin back in 2014 to see how it all worked (which btw, I immediately sold...yep). Thus, I've started messing around with ASAs and creating NFTs, games, etc. with them and have been absolutely AMAZED at the cost, speed, finality, and uses. If you wanna see some of the wild and creative ways ASAs are being used (and mimic much larger, more impactful use-cases) by simple (but talented!) Redditors to giveaway/sell music, art, and create games check out r/AlgoNFTMarketplace. *(Disclaimer: I moderate that subreddit, I do sell art, and I do conduct Algorand ASA, reddit-based games)*
The brilliance behind Algorand's ASAs, and why it (or other gen3 blockchains) will crush Ethereum in the large-scale, "official" realm (unless Ethereum adapts rapidly) is the transaction cost, speed, and finality.
To mint an ASA, it costs me a measly .001 Algos (at the time of this writing = .0009 USD). Should Algorand equal Ethereum market cap and 1 Algo = \~$100 then .001 = just 10 cents.
It also takes literally 4 seconds. In just 4 seconds, I can mint 1 NFT or 1,000,000 tokens. I've heard some people say this is "long" (mainly from the Nano camp) but next time you're at the register, time how long it takes your Visa to process. If that doesn't bug you, neither will Algorand (although I'm all for improving upon this and understand we should be pushing for Nano Tx time to be the standard for all Txs).
And it's FINAL. There is no forking (well, an *incredibly* small probability of forking which makes it *highly* implausible). This means my 1 NFT will always be 1 NFT. Never split into two. It...