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Algorand Fundamental Analysis
Algorand is a decentralized and open blockchain system, which boasts almost instant transactions and a capacity to accommodate billions of users on its platform. Algorand’s founder is Silvio Micali, a Gödel Prize holding MIT professor and Turing award winner, who aimed to create a platform that would be truly decentralized, scalable, and secure. Algorand attempts to overcome both the challenges of lack of transparency, access, and accountability inherent to centralized economies and the technical hurdles that inhibit other blockchains from realizing these goals. ALGO is the cryptocurrency of the Algorand blockchain. All of the available ALGO tokens, amounting to 10 billion, were created at the launch of the blockchain. As of June 2020, Algo supply was allocated as follows: 2.5 billion in sales to the community, 1.9 billion in incentives and ecosystem support, 3.1 billion to early relay node runners (program closed), 2.0 billion to Algorand Inc, and 0.5 billion to the Algorand Foundation. The sales plan for 2020 is up to 150 million tokens. One of the things that make the Algorand platform standout is its use of the PoS (Proof of Stake) consensus protocol as the basis for new block generation within the blockchain. Each active user is potentially able to participate in the formation of a new block, with the probability of this depending on the share of the tokens owned by the user. The Algorand consensus protocol randomly selects users to propose and vote in order to generate new tokens. The reward period is 500000 blocks. ALGO can be purchased with Ethereum on such cryptocurrency exchanges as Binance, Kucoin, and Huobi.
Algorand Live Price Chart