Algorand’s “Layer-1 policy” can surpass state-of-the-art Blockchain solutions

  • Algorand Standard Assets (ASAs)
  • Atomic Transactions (ATs)
  • Algorand’s Smart Contracts (ASC1s)

Feature # 1: Algorand Standard Assets (ASAs)

Algorand Standard Assets (ASAs) enable the tokenization and issuance of any type of asset on the Algorand Blockchain, in a standardized way. Following types of behaviour are supported:

  • fungible assets: currencies, stablecoins, and utility tokens
  • non-fungible assets: a digital collectible, a concert ticket, a single piece of jewelry (also called as ERC-721 tokens on the Ethereum Blockchain)
  • restricted fungible assets: securities and security tokens
  • restricted non-fungible assets: licenses and certifications

Feature #2 — Atomic Transfers (ATs)

Atomic Transfers (ATs) offer a fast, low cost, and secure way to simultaneously transfer a number of assets (fungible tokens) among multiple parties. This happens in day-to-day scenarios like:

  • operate trades without trusted intermediaries (decentralized exchanges)
  • group payments: either everyone pays or no one does
  • payments to multiple recipients

Feature #3 — Algorand Smart Contracts

Algorand Smart Contracts (ASC1) are stateless smart contracts that manage transactions (involving Algos or Algorand Standard Assets) at Layer-1 via simplified scripting templates.

  • delegate one’s signature authority to some other (proxy authority)
  • compiling and signing a contract for some others to submit on your behalf (delegation)
  • set up an escrow-style account with additional logic governing when tokens or assets are removed from the escrow (settling)
  • on signature, produce a new contract account with additional logic governing both funding and expenses (crowfunding)

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