Yesterday I decided to invest again into ALGO, as it became pretty famous during the last cycle. It has suffered a little from market pressure, but I'm sure it has reached its bottom within the last years' decline. It is an amazing project and now even includes PYTHON programming!
The project was conceived in 2017 by an experienced cryptography expert at the world-famous Massachusetts Institute of Technology (MIT) and launched in 2019. The Algorand platform is a "cryptocurrency 2.0" that can be used not only as a digital currency, a means of payment, or as a store of value – but also in so many other ways! Algorand is another fantastic addition to the cryptocurrency world! It's similar to Ethereum, Cardano and Solana in that it's programmable and acts as a kind of "operating system" on which developers can program and implement their own decentralised apps (dApps). What makes Algorand special is its unique approach to solving the blockchain trilemma, which often causes slow and expensive transactions, e.g. at the top dog Ethereum. The network works with its own token, the ALGO token, which has become one of the most valuable and well-known tokens in the crypto world with a market capitalisation in the billions. It's incredible!
The Algorand blockchain technology empowers a dynamic, inclusive, and borderless global ecosystem. It's a game-changer! It includes a statically typed framework for developing Algorand smart contracts and logic signatures, with Pythonic interfaces to underlying AVM functionality that works with standard Python tooling.
FAST: 10,000 TPS. 2.8s blocktime. Instant finality.
CARBON ZERO: Negligible energy consumption (7 houses), and smart contracts buy carbon offsets to ensure total footprint is zero.
SECURE: The incredible, cutting-edge technology behind Algorand's Pure POS consensus with VRF technology delivers unparalleled cryptographic security.
DECENTRALISED: Algorand has decentralised consensus and governance mechanisms.
Cheers
-
1. My subjective opinion. Do your own research
2. No financial advice