ALGO
AlgorandUSD 0.127043
as of 2024-10-15 14:30:02 UTC
What
What is Algorand (ALGO)?
ALGO is the ticker symbol for the Algorand cryptocurrency. It is a blockchain-based platform that aims to provide fast, secure, and decentralized transactions. It uses a consensus algorithm called Pure Proof of Stake (PPoS) which allows for fast and efficient transactions without the need for energy-intensive mining. Algorand's native token, ALGO, is used to participate in the platform's governance and can also be used to pay for transaction fees on the network.
Why
Why was Algorand (ALGO) invented?
Algorand was created with the goal of addressing some of the scalability, security, and decentralization issues that other blockchain platforms have faced. The main goal of Algorand is to provide a blockchain platform that can support a large number of transactions per second, while still maintaining a high level of security and decentralization. This is achieved through the use of the Pure Proof of Stake (PPoS) consensus algorithm, which allows for fast and efficient transactions without the need for energy-intensive mining. Algorand's native token, ALGO, is used to participate in the platform's governance and can also be used to pay for transaction fees on the network. Additionally, Algorand aims to make blockchain technology more accessible and user-friendly for developers and businesses.
Who
Who created Algorand (ALGO)?
Algorand was created by Silvio Micali, a Turing award winner computer scientist, cryptographer and professor at MIT. He is well known for his contributions to the fields of cryptography and computer science, particularly in the areas of secure multi-party computation and public-key cryptography. In 2017, Micali founded Algorand Inc, the company behind the Algorand blockchain. He currently serves as the company's CEO and is also a member of its board of directors. Micali has a team of experienced engineers and researchers who have been working on Algorand blockchain since the project's inception.
When
When was Algorand (ALGO) launched?
2019-06
Where
Where can you buy/invest in Algorand (ALGO)?