An introduction to Algorand
Algorand is a pure proof of stake blockchain cryptocurrency protocol with a consensus mechanism chosen for scalability, intending to solve the blockchain trilemma. The Algorand platform supports smart contracts, and its consensus algorithm is based on proof of stake and a Byzantine agreement protocol. Algorand's native cryptocurrency is called ALGO.
What are we looking for?
This tutorial aims to investigate which stablecoin between USDT, USDC and STBL is more popular for a wallet to use in swaps. To this end, volume (expressed in US Dollar) and number of swaps for each stablecoin over the month of March 2022 were extracted from “algorand.swaps” table and the results are compared.
Then we have the comparison between USDC, USDT and STBL based on number of swaps. As previous result, also in terms of number of swaps, USDC is at the top of the list and then STBL and USDT respectively.
Conclusion
An investigation was conducted to find out which stablecoin between USDC, USDT and STBL are more popular for swap. Two parameters volume of number of swaps were employed to compare between aforementioned stablecoins. Results revealed that in terms of both volume and number of swaps, USDC is more popular for a wallet to use in swaps. STBL is in second place and USDT is the third one.