Algorand (ALGO)

Official Website: https://algorand.foundation/

What is Algorand?

Algorand is a project that presents itself as a scalable, protected, and decentralized digital currency and transactions platform. Algorand was founded by Silvio Micali who is a Turing award winner and MIT professor. Algorand uses a permissionless pure proof-of-stake blockchain protocol. Contrasting from the first-generation consensus mechanisms, Algorand's technology instead finalizes blocks in a matter of seconds and delivers immediate transaction finality while also avoiding forks. In addition, Algorand does not reward validators with freshly minted tokens.

The project’s principal focus on developers and their requirements, means that Algorand's node repository has been open-sourced and is available to the public. Algorand presents a vigorous set of developer tools, DApp analytics via a partnership with Flipside Crypto, and has a number of partners building on their blockchain, including OTOY, Syncsort, TOP Networks, Asset Block and more.

The official native cryptocurrency of the Algorand blockchain network is called the Algo. The cryptocurrency is employed to push the borderless economy and the system of incentives. The Foundation maintains a holding of Algo to provide stability to the Algorand blockchain, to incentivize network involvement, and to assist the Algorand community, ecosystem building, and research. The Algos join the ecosystem through numerous avenues including development and research grants, participation rewards, and sales. These endeavours are released to the Algorand community with full transparency.

Team

The Algorand project is headed by an executive team, the members of this team include Founder Silvo Micali, CEO Steve Kokinos and COO W. Sean Ford. 

Silvio Micali founded Algorand and currently oversees all research, including theory, security and crypto finance.

Steve Kokinos is a serial entrepreneur who most recently co-founded Fuze where he was responsible for corporate strategy. 

W. Sean Ford is the COO of Algorand and is currently responsible for go-to-market execution and operations involving product management, engineering, marketing and global community development.

Roadmap

VAULT™

Vault is a blockchain compression technology that lets new users to instantly join and participate in the Algorand network without a troublesome download. 

PIXEL

Pixel is a new digital signature method created for Proof of Stake systems that minimize space requirements through committee member signature aggregation while retaining forward-security through key rotation.

SELF-VALIDATING TRANSACTIONS

Self-validating transactions are an improvement that permits a partition of consensus and storage to improve the efficiency and the logical structure of the Algorand blockchain.

ATOMIC² SWAPS

Atomic² swaps leverage Algorand’s instant transaction finality and implement same-chain swaps of assets, without any type of time- or hash-locks, in a single transaction.

POST-AND-SALE TRADES

An exchange of assets typically needs interactivity: preceding the delivery of the asset, a seller must obtain a buyer and negotiate terms. Post-and-sale trade technology will enable any seller to post assets for sale, at a given price. Any buyer can browse these offers, pay the price and receive the asset immediately without having to interact at all with the seller or any third party. 

SMART² CONTRACTS

Smart contracts allow trusted transactions and agreements to be carried amongst parties around the globe without the need for a trusted third party, but they can be slow and expensive.

Where to Store Algorand (ALGO)

You can store your Algorand in Exodus along with various other cryptocurrencies. Exodus is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus will then be tied to whichever device it has been downloaded to which will also be the device you will use to access and manage your crypto assets.

Trust wallet is a wallet that can hold a wide variety of cryptocurrencies such as Algorand making it highly desirable for users who wish to have a varied portfolio. Being owned Binance, it also a very trusted wallet in the crypto community.  

Leading hardware wallet providers such as Ledger are integrated with Algorand and ALGO wallets will come as standard on their devices.   

Where to Buy and Sell Algorand (ALGO) 

You can Buy & Sell Algorand (ALGO) by heading over to the Buy Coins page of our website. Algorand (ALGO) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Algorand has never been easier, simply place your order and provide your wallet address.  

Once your payment arrives Algorand will be sent directly to your wallet. If you choose to Sell Algorand (ALGO) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.


Algorand (ALGO) Resources

Website: https://www.algorand.com/
Block Explorer: https://algoexplorer.io/
Twitter: https://twitter.com/Algorand
GitHub: https://github.com/algorand

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.
 

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