Algorand (ALGO) is a Layer-1 blockchain launched in 2019 by Silvio Micali, a Turing Award–winning cryptographer. Designed with scalability, decentralization, and security in mind, Algorand employs a Pure Proof-of-Stake (PPoS) consensus mechanism, which allows users to participate in block validation proportionally to their stake. This approach enables fast finality, typically confirming transactions in seconds, while maintaining low fees and strong resistance to forks. Algorand supports smart contracts, decentralized applications (dApps), and custom tokens through its standardized asset system (ASA).
Over time, Algorand has positioned itself as a blockchain tailored for real-world use cases, with applications in finance, supply chain, digital identity, and tokenized assets. Its energy-efficient design has also drawn attention from institutions and governments seeking sustainable blockchain solutions. Despite strong competition from other scalable chains like Solana and Avalanche, Algorand continues to expand its ecosystem, leveraging its academic foundation and focus on reliability to attract developers and enterprises. The native ALGO token powers transactions, staking, and participation in the network’s governance.
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