Algorand, or ALGO, is a decentralized, blockchain-based network that supports a wide range of applications, focusing on scalability, security, and decentralization ¹. It uses a unique pure proof-of-stake (PoS) consensus algorithm to eliminate the need for energy-intensive mining ².$ALGO
*Key Statistics:*
- _Market Capitalization:_ $1.2 billion ¹
- _Circulating Supply:_ 8.3 billion ALGO ¹ ³
- _Total Supply:_ 10 billion ALGO ¹ ³
- _All-Time High:_ $3.56 (June 2019) ³
- _All-Time Low:_ $0.08751 (September 2023) ³
*ALGO Token Utility:*
ALGO is used for various purposes, including:
- _Governance:_ Participate in Algorand Network decision-making
- _Staking:_ Validate transactions and earn rewards
- _Gas Fees:_ Pay for transactions and smart contract execution
*Algorand Features:*
- _Scalability:_ Achieves high transaction speeds (up to 10,000 TPS)
- _Security:_ Utilizes pure proof-of-stake consensus algorithm
- _Decentralization:_ Thousands of validators secure the network
*Where to Buy ALGO:*
You can trade ALGO on popular centralized crypto exchanges like Bybit, Coinbase Exchange, and HTX ³.
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