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What is Algorand (ALGO)?
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Written by Ignat
Updated over a week ago

Algorand is a solution that strives to solve the blockchain trilemma of achieving speed, security and decentralisation at the same time. Designed to be a payments-focused network that processes over 1,000 transactions per second, Algorand utilises a novel pure proof-of-stake consensus algorithm. Validators are chosen randomly from all token holders, which ensures security and decentralisation. Algorand is also the first blockchain to provide immediate transaction finality, removing the risk of forking.

To participate in transaction confirmation, users are required to stake just 1 ALGO. At the same time, Algorand distributes participation rewards to all ALGO coin holders.

What else can it offer? Algorand is a well-known Ethereum-alternative for dapp development and DeFi applications. It also allows developers to use the Algorand Standard Asset protocol to create new tokens/transfer existing tokens to the Algorand ecosystem.

Check out this article to choose the most convenient way to buy cryptocurrencies, including ALGO.

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