The Algorand price is crawling back after it tumbled sharply during the weekend. ALGO is trading at $1.8145, which is...
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
After testing major support on Monday, the Algorand price is firmly back in bull mode. ALGO has clawed back 25%...
The Algorand price has retreated around 16% from Monday’s high as it tracks back towards the safety of trend line...
The Algorand price has extended its gains, surging 20% in the last two days as ALGO becomes the latest cryptocurrency...
The Algorand price has failed to break above the $0.429 resistance level for the past three trading sessions. Instead, it...
Algorand (ALGO) price is having a strong rebound from its all-time lows. ALGO crypto plummeted to its lowest level in...
If the falling wedge on the daily chart plays out as expected, Algorand price prediction patterns in the coming weeks...
The crypto market shows signs of an intraday recovery this Monday, even though this upside move does not necessarily boost...
As indicated in our previous Algorand price prediction, the price has once again faced rejection from key resistance. On Thursday,...
The 9.13% decline this Monday in the ALGO/USDT pair is triggering new bearish Algorand price predictions. The heavy downside seen...