What is Algorand?
Algorand is a blockchain platform using Pure Proof-of-Stake (PPoS) consensus that allows anyone to join a truly decentralized network with high security, fast speed.
Algorand was created by a team with thorough understanding of science and theory, led by Silvio Micali, a pioneering researcher in the field of cryptography.
Algorand’s goal is to remove the technical barriers of the blockchain mass adoption: decentralization, scope, and security.
Key features of Algorand
- Pure Proof-of-Stake: Algorand uses PPoS consensus mechanism built on Byzantine agreement. The influence of the vote will depend on the number of ALGO tokens users are staking on the system.
- Instant transaction confirmation: blockchains on Algorand do not fork.
- Self-selection: users participating in the Algorand consensus mechanism will be selected randomly, secretly and continuously. The election of participants is not under the authority of any trustee or committee.
- User replaceability: to prevent security attacks, the list of participants will change by selection rounds. In each round, the list of participants is completely random and independent of the previous round.
Highlights of Algorand
- Decentralized: thanks to self-selection and user replaceability, no individuals or committee have the rights to control the system.
- Permissionless: the network is public and open to anyone. Users do not need approval to use Algorand. All online users who own ALGO tokens are automatically eligible to participate in block consensus.
ALGO Token
ALGO is the native asset of the Algorand platform, used for the following purposes:
- Means of exchange and store of value
- Staking to join the consensus mechanism
- Rewards in Algorand’s community promotion programs
- Rewards for Relay Nodes
Specifications
- Ticker: ALGO
- Blockchain: Algorand
- Token type: Utility Token
- Maximum supply: 10,000,000,000 ALGO
- Total supply: 6,464,165,073 ALGO
- Circulating supply: 5,930,000,000 ALGO
Token Allocation
The total supply of ALGO is distributed as follows
- Team, Foundation & Investor: 25.0%
- Public Sale: 30.0%
- Node Running Grant: 25.0%
- Participation Rewards: 17.5%
- End User Grant: 2.5%
ALGO token Price today
How to buy ALGO
Algorand (ALGO) has been listed on Attlas Exchange.
Traders can easily and securely buy ALGO with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find ALGO
Step 5: Select Buy
Summary
This article is an overview of Algorand (ALGO), not a financial advise.
Users are advised to do their own research before making any trading decisions.