Algorand - Top 10 Wallet ASA's in 2022
What is Algorand?:
Algorand is a truly democratic and efficient way to implement a public ledger (which have innumerable and compelling uses to revolutionize the way a democratic society operates). Algorand is based on a novel and super fast message-passing Byzantine agreement, and seeks to solve scaling problems associated with other L1 chains.
-Algorand white paper
What is an ASA?:
Algorand Standard Assets (ASA) are on-chain assets that benefit from the same security, compatibility, speed and ease of use as the Algo (native token). With ASA's you can represent stablecoins, loyalty points, system credits, and in-game points, just to name a few examples.
-Algorand developer portal
What does 2022 ASA activity look like among new wallets?:
- Which ASA's are attracting new wallets to the Algorand network?
- For the top ASA, what is the monthly distribution of new wallets?
To answer these questions, we will determine wallets created in 2022, determine ASA tokens held by these accounts, and look at activity over time.
We observe that the Xfinity token has significantly outperformed the others in the creation of new wallets during 2022.
So what is the Xfinite project:
- Xfinite has launched the Mzaalo dApp which is a gamified video on demand platform available on iOS, Google Play store and Web. Mzaalo is the first use case of Xfinite’s application of Algorand’s robust and scalable tech. With this application, Xfinite is driving its mission of mass adoption of blockchain to democratize content consumption at an even faster speed.
-Algorand Use cases
We observe that the growth of new wallets is increasing over time. In January, a mere 222 wallets were created versus over 80,000 in May. The sharpest increase in growth occurred between March and April; additional research would need to be done to determine causes. However, even after April, Xfinity is continuing to bring new wallets into the Algo community.