Why should I invest in ALGO (Algorand)
1. Founder of Algorand
Algorand was founded by Silvio Micali, a professor of Computer Science at MIT (Massachusetts Institute of Technology) and winner of the Turing Award (considered the “Nobel Prize of Computing”). He is a pioneer in cryptography, co-creating concepts such as zero-knowledge proofs, which are fundamental to blockchain security.
• His vision with Algorand was to solve the “Blockchain Trilemma” (scalability, security, and decentralization) in an efficient and sustainable way.
2. Connection between Algorand and Cardano (ADA)
Algorand and Cardano share similar goals, such as promoting decentralization, sustainability, and technological innovation. Both use a model based on Proof of Stake (PoS), but with different approaches:
• Algorand uses Pure Proof of Stake, focused on simplicity and speed.
• Cardano, led by Charles Hoskinson, uses a more academic PoS model, prioritizing theoretical verifications before implementation.
Although there is no direct partnership, communities and developers often discuss synergies between projects.
3. Algorand’s use in Europe
Algorand has been adopted by several European countries and institutions for financial and technological solutions:
• Italy: The country’s financial system uses Algorand to digitize bank collateral, making processes faster and more transparent.
• France and Spain: Tokenization and digital asset projects are exploring Algorand’s technology for its efficiency and security.
EU as a whole: Algorand is considered a viable blockchain for central bank digital currencies (CBDCs) due to its carbon neutrality and reliability.
This adoption highlights Algorand’s potential as an infrastructure for financial and government innovation.
