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  • Receiving ALGO via renting Hashpower? April 21, 2021
    Hey guys, new convert to the ALGO train, love the use case and see huge potential for the coin However. I'm in a unique tax situation in my country where mining or renting hash power to receive coins is non taxable until sale while purchasing coins is a taxable yearly. ALGO is obviously POS not […]
    /u/DankMemelord25
  • The AlgorandOfficial membership just crossed 22,000 members mark! Welcome all new members! April 21, 2021
    Feel free to ask any questions as we are happy to assist. Stay safe ALGOnauts submitted by /u/Neymar11rose [link] [comments]
    /u/Neymar11rose
  • Just Another Reminder NOT to Advertise Your Holdings April 21, 2021
    Announcing the bag could possibly increase your likelihood of facing malicious attacks, especially if Algo grows as it is poised to. If your Algo are worth a bucketload in the future and there’s online records of you announcing your huge bag, well... do the math. Unfortunately, there are countless malicious entities hanging in the corners […]
    /u/ScomosHotGrandma
  • Adding an asset to your Algorand Wallet triggers rewards! April 21, 2021
    A normal transaction would cost 0.001 ALGO to trigger your wallet rewards. Adding an asset also costs 0.001 ALGO and ALSO triggers wallet rewards. So if there’s an asset that you want to add or might add in the future, it would be better to to add an asset than to just take the fee. […]
    /u/Sufficient_Drummer40
  • Boost adoption with direct ALGO purchases April 21, 2021
    Is there any way to directly buy ALGO without going through an exchange? Are there any plans to support this? I think it would massively help adoption. One-step access to a savings account with instant payments is a no-brainer for the masses. I do have software dev and mgmt experience (but no blockchain exp yet). […]
    /u/neelfirst
  • HDL on Algo April 21, 2021
    Hey everybody, So I got the HDL airdrop a few weeks back and I was just wondering if anyone had any news for when HDL will actually hold value? I’m assuming when it goes to exchanges obvious but when is that? submitted by /u/Murky-Inflation2966 [link] [comments]
    /u/Murky-Inflation2966
  • Algorand’s stance on transaction privacy? April 21, 2021
    Transaction privacy (although not without its downsides) can be helpful for a variety of reasons. Consider the following hypothetical: Alice the tourist buys a souvenir from Bob the street vendor using a stable coin on the Algorand blockchain. Immediately after the purchase, Bob enters Alice’s public address on algoexplorer and sees that Alice holds 50k […]
    /u/Tonkotsu787
  • ASA "digital punchcard" for a music venue? April 21, 2021
    I work with a music venue, and wanted to try to implement a "digital punchcard" for showgoers (i.e.- Pay for 5 ticketed events, get one ticket to an event free) and incorporate it with the Algorand blockchain. Any ideas how I (or a proper dev) could do this? I'm assuming I'd have to create an […]
    /u/tigerbankfire
  • ASA "digital punchcard" for a music venue? April 21, 2021
    I work with a music venue, and wanted to try to implement a "digital punchcard" for showgoers (i.e.- Pay for 5 ticketed events, get one ticket to an event free) and incorporate it with the Algorand blockchain. Any ideas how I (or a proper dev) could do this? I'm assuming I'd have to create an […]
    /u/tigerbankfire
  • Is there a release schedule for when new ALGO is distributed? April 20, 2021
    Is there a release schedule that shows the exact dates of when new ALGO will be released into the market? submitted by /u/tolgen1012 [link] [comments]
    /u/tolgen1012

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).