Algorand (ALGO) is a blockchain platform that seeks to address the challenges of scalability, security, and decentralization in cryptocurrencies.
Founded in 2017 by Silvio Micali, a professor at MIT and Turing Award winner, Algorand uses a proof of stake consensus mechanism to achieve fast and efficient transactions.
Main features:
Decentralization: Operates on a global network of computers that transparently and securely record and validate transactions without a central authority.
Scalability: It is capable of handling nearly one million transactions per day, offering an efficient platform for real-world applications.
Security: It uses a Byzantine agreement protocol based on proof of stake, ensuring the security and efficiency of the network.
Utilities:
Smart contracts: Supports smart contracts, allowing the creation of decentralized applications (dApps) on its platform. Wikipedia
Fast and low-cost transactions: Offers nearly instant transactions with minimal fees, making it suitable for a wide range of financial applications.
Sustainability: Algorand has been carbon neutral since 2021, highlighting its commitment to environmental sustainability.
Whitepaper:
The Algorand white paper is available on its official website.
Annual price evolution of Algorand (ALGO):
This is a list with the approximate price of ALGO at the end of each year since its launch:
2019: $0.25
2020: $0.33
2021: $1.70
2022: $0.16
2023: $0.22
2024: $0.29 (as of November 25)
* A young project backed by good marketing, before making any type of move it is mandatory to conduct prior research, as the difference between a good investment and a risky bet is just that small detail *
