The Algorand price is bouncing back today as investors cheer the platform’s ambition of becoming the greenest blockchain in the...
Algorand
Algorand is a blockchain protocol that aims to be highly scalable. It uses a Byzantine agreement protocol and a consensus algorithm derived from a proof-of-stake consensus mechanism. In addition, it distributes validator rewards to the holders of its native cryptocurrency.
What is Algorand?
The native cryptocurrency of Algorand is ALGO. It was launched in 2019 by Silvio Micali, a professor at the Massachusetts Institute of Technology (MIT).
Micali created Algorand as a network that focuses on payments, but unlike Bitcoin, it can handle more transactions 1200 (TPS). After the ongoing upgrade that adds “instant finality” to the Algorand network is complete, it will handle 3000 (TPS). Bitcoin can only handle under 5 TPS, and Ethereum can handle about 13 TPS. The feature helps Algorand achieve scalability, and that’s why some believe it’s an ’Ethereum killer’.
Algorand’s public version allows other developers to design new applications based on cryptocurrency. It has been previously used in copyright, real estate microfinance and more.
Is Algorand a good investment?
It has a remarkable ability to work across many blockchain networks. It has recently seen a rise in prices. This is a positive attribute that investors will consider when choosing to invest or not in the same. It’s also wise to note that cryptocurrencies are incredibly volatile, so do not invest money you cannot afford to lose.
Algorand latest news
The Algorand price is showing some encouraging signs. A raft of bullish news could be the bullish kicker that sends...
The Algorand price is rising for the first day since Thursday last week as cryptocurrency bounces back. The ALGO price...
After last week’s failed breakout, the Algorand price is retreating. This may offer the ALGO bulls a chance to accumulate...
The Algorand price has largely ignored the recent euphoria and still struggling below $1.00. But will ALGO soon catch up...
After massive gains across the board at the weekend, the altcoin rally is taken a breather this morning. And as...
After testing major support on Monday, the Algorand price is firmly back in bull mode. ALGO has clawed back 25%...
The Algorand price has extended its gains, surging 20% in the last two days as ALGO becomes the latest cryptocurrency...
If Tuesday’s crypto market bloodbath was to be considered, nobody could have made a successful Algorand price prediction for Wednesday....
The Algorand price has defied gravity. While a sea of red has engulfed the cryptocurrencies market, ALGO has jumped to...