{"id":6432,"date":"2021-11-25T17:33:40","date_gmt":"2021-11-25T14:33:40","guid":{"rendered":"https:\/\/www.paribu.com\/blog\/?p=6432"},"modified":"2026-01-16T10:06:53","modified_gmt":"2026-01-16T07:06:53","slug":"algorand-algo-explained-in-6-easy-steps","status":"publish","type":"post","link":"https:\/\/www.paribu.com\/blog\/en\/cryptocurrency\/algorand-algo-explained-in-6-easy-steps\/","title":{"rendered":"Algorand (ALGO) Explained in 6 Easy Steps"},"content":{"rendered":"<p><strong>Algorand is a <\/strong><strong>blockchain<\/strong><strong>-based platform, which is both scalable and decentralized, allowing for creating smart contracts. The symbol of its native cryptocurrency is ALGO.<\/strong><\/p>\n<p><strong>1.When and by whom was it founded?<\/strong><\/p>\n<p>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.<\/p>\n<p><strong>2.ALGO&rsquo;s infrastructure<\/strong><\/p>\n<p>ALGO has characteristics similar to&nbsp;Ethereum. However, it has a unique feature different than Ethereum: It operates by a consensus mechanism called Pure Proof of Stake (Pure PoS).&nbsp;Mining&nbsp;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.<\/p>\n<p><strong>3.What does it offer to users?<\/strong><\/p>\n<p>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.<\/p>\n<p><strong>4.Can ALGO be mined?<\/strong><\/p>\n<p>ALGO is a type of cryptocurrency that can be obtained by mining activities.<\/p>\n<p><strong>5.All-time low, all-time high (ATH), and total supply<\/strong><\/p>\n<p>ALGO&rsquo;s all-time low price was $0.1024 on March 13<sup>th<\/sup>, 2020 while its all-time high price was $3.28 on June 21<sup>st<\/sup>, 2019. Circulating supply of the cryptocurrency is 3,069,027,345 ALGOs and the total supply is 5,551,208,340 ALGOs.<\/p>\n<p><strong>6.How to trade ALGO on Paribu?<\/strong><\/p>\n<p>By clicking on the link, you can trade&nbsp;ALGO on Paribu.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[212],"tags":[],"class_list":["post-6432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/posts\/6432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/comments?post=6432"}],"version-history":[{"count":1,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/posts\/6432\/revisions"}],"predecessor-version":[{"id":22838,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/posts\/6432\/revisions\/22838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/media\/24534"}],"wp:attachment":[{"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/media?parent=6432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/categories?post=6432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paribu.com\/blog\/en\/wp-json\/wp\/v2\/tags?post=6432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}