- The Algorand Foundation shares its transparency report for Q2 2024.
- Algorand has accomplished many milestones during this time.
- A highlight celebrates 240 million transactions per month setting a record.
The Algorand Foundation is pleased to share its Algorand Foundation Transparency Report. The report outlines the many accomplishments and milestones set by the blockchain and crypto project in Q2 of 2024.
As we can see from the post above, the highlights of the reports are presented first. During Q2 of 2024, the total stablecoin value (USD) was up 15%, MAUs increased by over 11%, and DeFiLlama revealed that RWA increased by 55%. Additionally, 27.574 million Algo was allocated for expenditure by the community, primarily via governance rewards & incentives.
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Specifically, the report highlights that in June 2024 alone, Algorand surpassed 2 billion transactions and reached an ATH of 240 million transactions per month. The blockchain network also achieved a record of 5,716 transactions per second (TPS), ranking it among the top three blockchains by max recorded TPS.
As for partnerships, Algoranf launched a partnership with Coinbase. This was followed by Coinbase enabling support for USCDa. Coinbase will also participate in the Coinbase Quests Program. Besides Coinbase, Algorand also made significant strides with Alchemy Pay, Coinstore, Nansen AI, and Inspect.
In terms of product and engineering, the Algorand team launched and enhanced a multiple key solutions during this quarter. These included a new transaction visualizer, Lora, Python unit testing, API interfase for Lagorand Box Storage, updates for Typescipt subscriber library, xHD Wallet, Liqui Auth, and the Algorand DID Method.
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Algorand also celebrated hosting a dozen Developer Bootcamps, the 2nd Algorand Global Hackathon, and led various crypt and blockchain-centric initiative in India, Nigeria, and the APAC region. The project also assembled the Cash-Based Assisstance in Humanitarian Crises Advisory Council.
The message ends with the final highlight which is how Algorand convened hundreds of Algorand builders for the 3rd edition of Decipher. Indeed, Algorand has made exceptional strides in the last quartered and ALGO holders hope to see this success reflect in the altcoin’s price.
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