Algorand is down by 10 per cent in today’s trading session, extending yesterday’s 23 per cent drop. The current price...
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 the price can pump another 20% if it closes a daily candle above $0.70....
Algorand price is loitering near its lowest level since February 2021 as demand for the coin eases. ALGO, the network’s...
Algorand’s price is trading above its opening price by one per cent, a continuation of the recent resurgence of the...
Algorand price has been in a strong bearish trend in the past few months. The ALGO token is trading at...
Algorand price has dropped by 13 per cent in the last three days. In today’s trading session, the cryptocurrency is...
Our Algorand price prediction is suggesting very bullish targets as ALGOUSD seems to have bottomed out. Crypto markets have been...
Today’s trading session has seen Algorand’s price losing value. This is after days of what looked like a trend reversal...
If the falling wedge on the daily chart plays out as expected, Algorand price prediction patterns in the coming weeks...
Our Algorand price prediction hugely depends on the price holding the key support of $0.68. Algorand was one of the...