Algorand (ALGO) Explained in 6 Easy Steps

Algorand is a blockchain-based platform, which is both scalable and decentralized, allowing for creating smart contracts. The symbol of its native cryptocurrency is ALGO.

1.When and by whom was it founded?

Algorand is a project created by Algorand Foundation team led by Silvio Micali. The cryptocurrency of this Singapore-based project was launched into the market in June 2019.

2.ALGO’s infrastructure

ALGO has characteristics similar to Ethereum. However, it has a unique feature different than Ethereum: It operates by a consensus mechanism called Pure Proof of Stake (Pure PoS). Mining operations are performed by Pure Proof of Stake, which is an improved version of proof of stake that requires less energy consumption compared to other blockchain networks.

3.What does it offer to users?

In addition to being scalable, secure, and decentralized, ALGO aims to provide a solution to the transactional integrity problem encountered in other blockchain-based platforms. Transactions are finalized fast before creation of side-chains within the blockchain network and interruptions in the entire network are eliminated. With this solution, Algorand contributes to blockchain technology in general.

4.Can ALGO be mined?

ALGO is a type of cryptocurrency that can be obtained by mining activities.

5.All-time low, all-time high (ATH), and total supply

ALGO’s all-time low price was $0.1024 on March 13th, 2020 while its all-time high price was $3.28 on June 21st, 2019. Circulating supply of the cryptocurrency is 3,069,027,345 ALGOs and the total supply is 5,551,208,340 ALGOs.

6.How to trade ALGO on Paribu?

By clicking on the link, you can trade ALGO on Paribu.

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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