The crypto market shows signs of an intraday recovery this Monday, even though this upside move does not necessarily boost...
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 sitting at an important support level as investors remain concerned about the cryptocurrency sector. ALGO, its...
The Algorand price has been under intense pressure this year as worries about its demand and ecosystem rose. ALGO, its...
The decline of the ALGO/USDT pair has heightened bearish Algorand price predictions, Thursday’s recovery move notwithstanding. The negative sentiment follows...
The Algorand price is on track to finish 2021 with a +200% gain. Here, we discuss the outlook for ALGO...
The Algorand price has reached a crucial support level that will decide the immediate fate of the ALGO token. Like...
The Algorand price has retreated around 16% from Monday’s high as it tracks back towards the safety of trend line...
The Algorand price is crawling back after it tumbled sharply during the weekend. ALGO is trading at $1.8145, which is...
The Algorand price is pausing following four consecutive days of gains. So can we expect the rally to resume, or...
Algorand price predictions may be shifting towards the bullish end as the network continues to establish new partnerships and attract...