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What Is Algorand (ALGO)?

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. They will support computations that require reliable performance guarantees to create new forms of trust.

The Algorand Coin mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. The transaction metrics can be viewed here. The initial coin offering (ICO) was held in June 2019, with the price of $2.4 per token.

APEmove Storage Key Points

Coin BasicInformation
Coin NameAlgorand
Short NameALGO
Total Supply7,314,446,216
Circulating Supply6.89B ALGO
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Mission

  • Global trust through decentralization
  • Simple designs that drive adoption by billions of people
  • Elegant technology that eliminates barriers to prosperity for all

Who Are the Founders of Algorand?

Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world.

What Makes Algorand Unique?

Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. This is designed so that there are lower transaction fees, as well as no mining (like Bitcoin’s energy-intensive process), as it is based on a permission less pure proof-of-stake (PoS) blockchain protocol.

The confidence to effect change.

«Algorand removed the technical barriers that for years undermined mainstream blockchain adoption. We designed the Blockchain to give global innovators the fundamental confidence they need to effect change.»

Algorand, the green blockchain.

They are born sustainable! Algorand Coin is far more energy efficient than other blockchains, and is going further by offsetting its small carbon footprint in partnership with ClimateTrade.

Transform the world with.

Start building the future today on Algorand: browse tutorials, ideas and prototypes from the Algorand developer community.

Powering the economic models of the future.

As the technology of choice for 2000+ global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and exchange of value. Join our movement!

Algorand’s Compatibility with Ethereum

On Feb. 17, 2022, the Algorand Foundation announced a $10M grant to Applied Blockchain to develop the London Bridge, a trustless bridge that will bring Ethereum compatibility to the blockchain. It has struggled to attract liquidity to its ecosystem, despite promising low cost transactions, low latency and high scalability. Having a bridge to Ethereum, which currently has the most robust DApp ecosystem, would allow The to connect to these applications and attract more liquidity. In the long-term, the Foundation aims to have verification of other chains be performed on The smart contracts, by incorporating state proofs in the form of Compact Certificates into the Consensus. The foundation’s goal is to eventually solidify the DeFi ecosystem on Algorand.

Social Algorand Price Estimates

This feature is in beta testing. Place your estimates for next 6 months and see what other’s are thinking about it. Data displayed are based on user input compiled by CoinMarketCap. The cut-off for estimates for each month-end is on the 21st of each month.

Where Can You Buy Algorand (ALGO)?

Algorand can be bought on the following exchanges:

Coinbase

Binance

OKEx

Kraken

Huobi

To check Algorand price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the Algorand price page. Alternatively, use the dedicated exchange rate converter page. Popular Algorand price pairs include: ALGO/USD, ALGO/GBP, ALGO/AUD and ALGO/EUR.


editor

One of Coinworldstory's longest-tenured contributors, and now one of our editors, Verna has authored over 2600+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies. Verna Is team Members of 9 People

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