The Algorand price has not moved by much in today’s trading session and has traded relatively stable. However, 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
Our Algorand price prediction suggests that a huge upside is on the cards if bulls bring their A-game to the...
On July 18, Algorand pierced the $0.36 resistance level, and in the next few trading sessions, it traded along that...
Since July 20, Algorand has been in a strong bearish trend, which has seen it lose 16 per cent of...
Algorand price resumed its strong push upwards yesterday, after a drop of 7 per cent on Wednesday. Today, the bullish...
Algorand was one of the few projects that, a few weeks ago, looked likely to recover from the current strong...
Our previous Algorand price prediction is hanging by a thread as the price keeps making new lows weekly. Most cryptocurrencies...
The crypto market has staged a modest recovery in the last two days, which has helped stave off additional Algorand...
Algorand price remains in a consolidation mode as the cryptocurrency winter continues. The ALGO token is trading at $0.4180, which...
The 9.13% decline this Monday in the ALGO/USDT pair is triggering new bearish Algorand price predictions. The heavy downside seen...