In this dashboard we will take a closer look into Algorand’s blockchain performance. And also we will examine how block sizes and block times have changed over time.
As a part of the initiative to develop scalable blockchain-native solutions for real-world situations, the Algorand Foundation has released an upgrade to its protocol that provides new tools for decentralized applications (Dapps). Developed on a pure proof-of-stake (PPoS) blockchain, the platform allows enterprise-scale Dapps to be built without sacrificing performance.
Agorand is a public, decentralized blockchain that uses a proof-of-stake consensus protocol. It is fast and energy-efficient, with a throughput of a thousand transactions per second and a transaction commit time of under five seconds. A distributed network of nodes makes up the Algorand system and collaborates to process transactions and add blocks to its distributed ledger.
From the below diagram, we can see how the blocks containing transactions form the blockchain.
Based on Block Times the Algorand Blockchain Performance
Several nodes and relays make up Algorand’s blockchain, which uses the Internet to promote distributed computing.To determine the next block of a blockchain, these nodes and relays use a consensus protocol. New blocks can be generated in less than 5 seconds using the proof of stake consensus protocol. To produce a block, 77.5% of the stake must agree.
As you can see here in this sequence of blocks in Algorand Blockchain, there is a time lag between blocks. The current average time lag between two blocks is close to 4.4 sec and which is less then 5 sec.
Here we can see in the following graph what is the average time difference between each block and what is the minimum and maximum time lag between each block on a weekly basis. Initially we can see a maximum tome lag is 25 but after the network changes it becomes a less than 5 sec.
Based on Block Size the Algorand Blockchain Performance
We can see the weekly block transactions from the graph below. There were a maximum of 200.06 Transactions Per Block in December 20, 2021, and a minimum of 1.28 Transactions Per Block in June 10, 2019. Trends show an increase in transactions per block. In the below graph, we can see that the number of transactions per block were going upwards after the network adoption in the Algorand blockchain. On December 20,2021, the number of transactions per block reached a peak.
Observed maximum Transactions of 27.81M in December 20, 2021 and minimum Transactions of 41 in June 10, 2019.Transactions show an upward trend.The maximum Blocks of 139.02K were observed in December 20, 2021, whereas the minimum Blocks of 32 were observed on June 10, 2019. There is an increasing trend in blocks. There were more transactions on Dec20,2021 than before, as well as a greater number of blocks than before.
Listed below are the top five blocks and their transactions, based on the number of transactions they have. In these blocks, there are transactions ranging from 4995 to 4998.