What is Algorand?
Algorand is a blockchain platform and cryptocurrency designed to function as a global virtual machine. Algorand is a proof-of-stake blockchain and cryptocurrency. Algorand's native cryptocurrency is called ALGO.
Algorand goals
The purpose of Algorand is to provide a secure and scalable cryptocurrency platform that uses a pure proof-of-stake consensus algorithm. It ensures fast, decentralized transactions with finality within seconds and low fees. Algorand's flexibility lends itself to use cases such as DeFi, NFTs, and payment systems, attracting interest from both private and public sectors. The blockchain technology has various real-world applications across industries, including establishing self-sovereign digital identities and creating tokenized commodities.
Algorand fondamentals
Algorand's native cryptocurrency is called ALGO. The benefits provided to validators for creating blocks are divided and dispersed among all coin holders, rather than being awarded just to block producers, as part of Algorand's unique protocol architecture.
Marketcap
$4.123B
Total number of Algorand
8380909066 ALGO
Algorand technology
Algorand is a permissionless blockchain that uses an improved version of PoS, Pure proof of stake built on a decentralized Byzantine agreement to achieve consensus. Algorand is a layer-2 blockchain framework. The base layer, also called layer-1, allows the creation of DApp, and smart contracts and handles basic transactions like swapping, buying, and selling of assets.
Algorand competitors
Algorand differentiates itself from competitors through its use of a pure proof-of-stake consensus algorithm, which allows for fast and decentralized transactions with low fees. Its unique protocol architecture also sets it apart from other blockchain platforms.
Algorand price history
Frequently asked questions
Algorand's native cryptocurrency is called ALGO.
Algorand uses a pure proof-of-stake consensus algorithm.
Algorand's flexibility lends itself to use cases such as DeFi, NFTs, and payment systems, attracting interest from both private and public sectors.
The ALGO token is primarily used as a payment facility to pay for fees within the network.
The SEC has filed several lawsuits alleging ALGO is a security which is subject to regulation under U.S. securities laws.
Algorand is a permissionless blockchain.
Algorand is a layer-2 blockchain framework.
The base layer, also called layer-1, allows the creation of DApp, and smart contracts and handles basic transactions like swapping, buying, and selling of assets.
The benefits provided to validators for creating blocks are divided and dispersed among all coin holders, rather than being awarded just to block producers.
Algorand Foundation Ltd. is a nonprofit incorporated in Singapore.
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