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. Algorand will support computations that require reliable performance guarantees to create new forms of trust.
• The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $2.4 per token.
• Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand 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 permissionless pure proof-of-stake (PoS) blockchain protocol.
• It is important to understand that not all crypto-currencies are the same. A crypto-currency also has the benefit of the key features of the blockchain that it is built on. The Algo benefits from the unique features of the Algorand blockchain. These features make the Algo one of the powerful and trustworthy crypto-currencies available today. These are:
  • Speed: An Algo can be sent to anyone’s wallet, in under 4.5 seconds. No waiting and wondering if your payment has gone through, no checking back minutes or hours later - you have almost instant confirmation your payment has been made.
  • Scale: the Algorand blockchain is built for many billions of users. This means that, no matter how many Algo users there are, your payment will still occur in under 4.5 seconds. No slowing down, no confusion - instant confirmation.
  • Trustworthy: the Algorand blockchain has been built in such a way that it is guaranteed not to fork. In blockchains, forking is a problem that can occur when a blockchain splits into more than 1 chain. When this happens, there can be a risk of knowing if your payment has been successful. With Algorand there can be no forks ever - so you can trust that your Algo are exactly where they are supposed to be, at all times.
  • Transparent: the total amount of Algo was created at the launch of the Algorand blockchain. This occurred on June 19th, 2019, and 10Bn Algo was created. At any time, anybody can check the public Algorand blockchain to see how many Algo are in use.
  • Secure: while the Algorand blockchain is transparent in many ways, it uses the most advanced cryptography (unbreakable digital codes) to ensure that all the personal and private information in your Algo payment remains that way.
• Another major advantage of a cryptocurrency like the Algo is that, as digital money, it can be divided into very small amounts (0.0001 ALGO for example). These small amounts can be distributed as rewards or small task payments in exactly the same way as larger amounts. This introduces an opportunity to create micropayments that were not possible due to the transaction costs and fees that are attached to using traditional money. Micropayments will enable new ways of people earning money and creating services that are yet to even be imagined.

Ecosystem built / using Algorand

• Algo Miami Accelerator - in partnership with borderless capital and rokk3r. first algo blockchain, encourage, back and foster algo projects. helping them grow and innovate the entire ecosystem
• Drapper U Accelerator - Draper University, support entrepreneurs and early stage projects looking to build on the algorand blockchain.
• Staked
• Algo Optimizer
• coinbase
• six clovers
• long hash ventures

token econmics // governance

• Market Cap - 1/22 - $5.85b+
• Total Token Supply - 10 billion ALGO
• circulating supply - 6.53b ALGO
• The Algorand blockchain is a permissionless pure proof-of-stake blockchain protocol. Unlike proof-of-work (PoW) blockchains, where the root block must be validated by randomly-selected validators (using computing power), in the pure proof-of-stake approach all of the validators are known to one another and only have to agree on the next block in order to create a new block.