What is Algorand?
Algorand is an open-source blockchain platform and cryptocurrency designed to provide a secure, scalable, and decentralized infrastructure for a wide range of applications. The platform supports smart contracts and decentralized applications (dApps), with the goal of improving the performance and efficiency of blockchain technology.
Whitepaper: algorand.co/blog/the-algorand-whitepaper
How does Algorand work?
Algorand uses a Pure Proof-of-Stake (PPoS) consensus mechanism, where a user’s influence on selecting a new block is proportional to the number of ALGO tokens they hold. This mechanism promotes decentralization and energy efficiency, as it does not rely on energy-intensive mining processes.
The token
Ticker: ALGO
Category: Smart Contracts Platform
Blockchain: Algorand
Protocol: Pure Proof-of-Stake (PPoS)
Year of launch: 2019
The technology behind Algorand
Algorand introduces a variant of the Byzantine Fault Tolerance (BFT) protocol, called BA⋆, which achieves consensus with minimal computational overhead and a negligible chance of forking. This contributes to a high-performance, secure, and sustainable blockchain.
The Algorand ecosystem
The Algorand ecosystem includes a wide variety of projects and use cases, such as real-world asset tokenization, Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), and gaming. The platform provides developers with tools and resources to build secure, production-ready dApps using familiar programming languages.
Who founded Algorand?
Algorand was founded by Silvio Micali, a renowned computer scientist and professor at the Massachusetts Institute of Technology (MIT). Micali is known for his contributions to cryptography and has received several prestigious awards for his work.
Price at this moment
24h ago
€0.16825313
The value of Algorand 24 hours ago
24h highest price
€0.17905600
The highest value of Algorand the last 24 hours
24h lowest price
€0.16756200
The lowest value of Algorand the last 24 hours
24h difference
€0.00330187
The value in which Algorand has dropped or increased the last 24 hours
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official materials provided by the project at algorand.co.
Before trading, make sure to read the general risk warning about trading crypto assets:
Cryptocurrencies, including Algorand (ALGO), are volatile and involve risks. The value of ALGO can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.
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