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  • Algorand Weekly Reddit Roundup: January 11 - 17 January 19, 2021
    News Global Carbon Holding to Build Global Carbon Credit Platform on Algorand. Read More AlertHub brings real-time account activity monitoring to the Algorand ecosystem. Read More TiE Atlanta and the Algorand Foundation announce a grant partnership. Read More Introducing Algorand Builder, for asset and smart contract development. Learn More Recent Events Watch Algorand's past developer […]
    /u/algorandofficial
  • Frontier Receives Grant From Algorand Foundation to Boost the Algo DeFi Ecosystem January 19, 2021
    Yesterday, the Algorand Foundation announced that Frontier has received a grant to support and grow the Algo DeFi ecosystem. The grant will be used to add support for the Algorand blockchain and protocols built on top of it in Frontier Application. Frontier's core mission has always been to build a true chain-agnostic DeFi Aggregator mobile-first […]
    /u/algorandofficial
  • Algorand Announces Barry Finkelstein Joins as Head of North American Business Development January 19, 2021
    Algorand is excited to welcome former Managing Director at UBS and Merrill Lynch, Barry Finkelstein, to the growing Algorand team of experts, where he will head their North American Business Development and assist in Capital Market initiatives. Mr. Finkelstein, a seasoned long time veteran in Structured Products and Fixed Income markets, will be working with […]
    /u/algorandofficial
  • Looking to Invest January 19, 2021
    Should I wait for the price to drop or should I invest now? submitted by /u/JorgeF010 [link] [comments]
    /u/JorgeF010
  • Discord? January 18, 2021
    Has anyone made a discord server yet for the discussion of algo? submitted by /u/jquint97 [link] [comments]
    /u/jquint97
  • Hmm I Wonder Which Actually Can Relate.. 😉 January 18, 2021
    submitted by /u/UBA_PPE [link] [comments]
    /u/UBA_PPE
  • Can I get more information about the asset thing on the algorand wallet? January 17, 2021
    Most of the information I can find online doesn’t really tell me what I need to do. Do I send algo to them do I just let it sit after it takes the fee. Any tips on what all I should be doing would be most helpful. Also could you put it in simpler terms, […]
    /u/pm_me_with_ducks
  • DeFi summer for Algo? n00b January 17, 2021
    Hi all, Rather new to Crypto but been following Algo, ETH and DOT recently. I see Algo isnt having the same DeFi "gains" as it's not one of those (right?) However it seems very stable and a strong team. My question is, are we expecting a bull year or is Algo going to compete with […]
    /u/wolfieboi92
  • compound question January 17, 2021
    Hi,I want to know if I want to buy 1 million algo and stake it,I must send 0 twice a day to my own wallet to compound my rewards. 365 days. Does this too annoy and too risk? I must open 1 million algo wallet twice everyday. Anyone explain this?thanks. submitted by /u/MadCardano [link] [comments]
    /u/MadCardano
  • Can an Algorand developer please comment on the Algorand vulnerability that is posted below: January 16, 2021
    https://dl.acm.org/doi/10.1145/3339252.3339255 "Our results show that it is possible to slow down the message validation process on honest nodes - which eventually forces them to select default values on the consensus - leaving the targeted nodes behind in the chain as compared to the non-attacked nodes." Questions: Does this vulnerability still exist? The above paper makes […]
    /u/BitcoinStaking

What Is Algorand?

The Algorand is a permissionless, decentralized network that enables users to create blockchain platform. Algorand network is built to address some of the major blockchain challenges. Algorand is designed with these three features in focus- scalability, decentralization and security. These three features make Algorand, a next generation blockchain with high performance, simplicity, direct usage and adoption. Algorand uses Pure Proof of Stake (PPoS) to advance its scalability. Pure Proof of Stake (PPoS) is built on Byzantine agreement and it’s more decentralized, secure and less energy consumption than DPoS. Many called Algorand, a “Blockchain 3.0” because of its high performance.

The credibility of its founder, MIT professor Silvio Micali, has made Algorand to stand out from other blockchains.

Cryptographic sortition is the Algorand’s secret sauce. The Cryptographic sortition makes Algorand blockchain to do transactions at a very high speed.

Users participate in the Algorand network as block proposers and this is done by switching their address in the Algoexplorer from offline to online. It doesn’t matter how much Algo tokens staked, this option implements it.

What you need to get your “nodes” online is to stake ALGO token as mining is not required. We have two nodes- relay and participation nodes that are being supported on the Algorand platform. Relay nodes facilitate communication between participation nodes and don’t participate in voting. Relay nodes are hardware inclined than the participant nodes.

ALGO token is what fuels all transactions in the Algorand ecosystem.

 

ALGORAND TEAM

Algorand team is headed by a seasoned scientist; researcher and MIT professor by name, Silvio Micali. He is a world class cryptography expert and co-inventor of Verifiable Random Functions, probabilistic encryption and Zero-Knowledge Proofs. Silvio Micali superintends security, all research and crypto finance Algorand network.

Other members of the team include:

Steve Kokinos-he is the CEO and an experienced entrepreneur.

  1. Sean Ford-he is the COO

Keli Callaghan- he is the Head of Marketing.

Sergey Gorbunov-he is the Head of Cryptography

Craig Gentry-he is a Research Fellow

And many others; visit the website for more details.

 

Algorand has a foundation called “Algorand Foundation” apart from the core team.

PRACTICAL USES OF ALGORAND

  • Algorand platform is used to design other blockchains.
  • Algorand platform is used where security is paramount especially in FINTECTH.
  • ALGO token is used for all transactions within its ecosystem and in major exchanges.

MINING OF ALGORAND

ALGO token cannot be mined but only be staked. The staking is powered by Pure Proof of Stake (PPoS) consensus.

ALGO token can be purchased in major exchanges like Binance, CoinEx and KuCoin,

Notes for Investors

Algorand (ALGO) is relatively doing well in the cryptocurrency market, courtesy of its innovations and the caliber of people in

 

the team. Algorand (ALGO) is an improved version of Ethereum in addressing scability problem and this has made it popular in the “investment world”. Algorand (ALGO) may definitely be among the top 25 cryptocurrencies by the end of the year, 2020.

Presently, the unit price of Algorand (ALGO) is USD0.231876 ,the market capitalization is USD110,289,240 ,the circulating supply is 475,639,006 ALGO and is currently ranked 42nd in the cryptocurrency market.

These statistics have shown that, Algorand (ALGO) is a cryptocurrency for the future and has started gaining tractions.

Quick Disclaimer:

This report is NOT intended to advice anyone to invest in Algorand (ALGO); it’s entirely an informative report. Whatever you do with this report is solely at your discretion. Do your research and consult before investing in Algorand (ALGO).