Algorand is a self-sustaining, decentralized, blockchain-based network that may be used for a variety of purposes.
-It was founded by Silvio Micali in 2017
-The consensus algorithm of Algorand is Pure POS
Algorand is a digital currency and smart contract platform that is scalable, safe, and decentralized. Algorand's technology attempts to deliver immediate transaction finality while preventing forks by completing blocks in seconds. Validators are not rewarded with newly created tokens by Algorand.
In response to the long transaction speeds of Bitcoin and other blockchains, Algorand was designed to speed up transactions and enhance efficiency. Algorand is based on a permissionless pure proof-of-stake (PoS) blockchain system; it has cheaper transaction fees and no mining (unlike Bitcoin's energy-intensive procedure).
The Algorand mainnet went live in June 2019, and by December 2020, it could process around 1 million transactions per day.
Historical Price Movement (in INR)
The Algorand blockchain protocol is a permissionless (Pure) proof-of-stake blockchain. Unlike proof-of-work (PoW) blockchains, where the root block must be validated by randomly-selected validators (using computer power), the pure proof-of-stake technique requires all validators to agree on the next block in order to establish a new block.
It is built on Byzantine consensus.
Algorand communicates with the Algorand Virtual Machine (AVM) and writes smart contracts using the TEAL (Transaction Execution Approval Language), Clarity, Reach, and Python programming languages.
Use of Native tokens in the ecosystem:
The Algo is the Algorand blockchain's native token. As a result, the Algo incorporates all of the essential characteristics of the Algorand blockchain.
It's lightning-fast: Algo's transactions take less than four seconds to complete.
It's scalable: whether you're the first or ten-millionth transaction of the day, your Algo transaction will be completed in under four seconds.
It is safe: Algorand and Algo transactions are protected by the Algorand blockchain's unique Pure Proof-of-Stake consensus.
It's essentially free to use: unlike many blockchains, where every transaction costs a fortune, every Algo transaction presently costs a fraction of a penny, no matter how large.
Team, Foundation & Investor
Node Running Grant
End User Grant
Volume (As of 10th april 2022)
Throughout 11 rounds of investment, Algorand has raised a total of $126 million.
Jan 28, 2021: Secondary Market - NA
Dec 1, 2020: Initial Coin Offering- NA
Aug 31, 2020: Venture Round - NA
Jun 19, 2019: Initial Coin Offering- $60M
Jun 1, 2019: Seed Round- NA
May 31, 2019: Seed Round- NA
Oct 24, 2018: Venture Round- $62M
Aug 31, 2018: Venture Round- NA
Jul 23, 2018: Venture Round- NA
Feb 15, 2018: Seed Round- $4M
Name of Organization
Algorand Foundation Ltd.
1 George Street, #10-01, One George Street, Singapore
Dispute Resolution and Governing Law
Country Risk Assessment
|Silvio Micali||Founder||University of California, Berkeley: Doctor of Philosophy - Ph.D., Computer Science University of Toronto: Postdoc Sapienza Università di Roma Bachelor's degree, Mathematics||9 yrs|