What is Algorand?
What is Algorand? Algorand is a project that provides users with a decentralized, scalable and secure platform that aims to eliminate the basic problems facing blockchain technology.
ALGO was founded by Silvio Micali, a MIT professor of computer science and a Turing Award winner, and has a team of key figures such as Steve Kokinos and W. Sean Ford. Algorand will provide the basis for enterprises and new projects to take place in the decentralized economy.
ALGO has a processing capacity of more than 1000 per second, which results in transfers in seconds with the proof-of-stake (PoS) consensus protocol. Algorand offers a reliable and scalable platform to individuals and organizations by providing full participation, speed and security in a decentralized network with its consensus mechanism.
DPoS consensus protocol is used by many coins such as EOS, TRON, Cardano and Tezos. Whereas, Algorand’s blockchain uses the PoS protocol.
Blockchains with DPoS protocol come to the forefront with a limited number of delegates (21 for EOS, 117 for Tezos). Users join the system by transferring staking power to a limited number of delegates and earn commissions.
Where can I buy Algorand?
ALGO coin is traded on many major crypto currency market such as Binance, Huobi Global and KuCoin. ALGO is recently traded on Coinbase. Exchanges, where ALGO coin can be bought and sold, can be viewed through CoinMarketCap.