What Exactly Is Algorand? (ALGO)

Algorand is a blockchain-based cryptocurrency platform that aims to be secure, scalable, and decentralized. In addition, the Algorand platform supports smart contract functionality. Its consensus algorithm is based on proof-of-stake principles and a Byzantine Agreement protocol. Algorand’s native cryptocurrency is called Algo.

What Is Algorand's Mission?

Algorand is one of several newer projects seeking to expand the possible use cases for cryptocurrency. How? Well, by accelerating transaction speeds and reducing the time it takes transactions to be deemed final on its network.
Officially launching in 2019, Algorand seeks to achieve these attributes through decisions that deviate from how cryptocurrencies have traditionally been designed.
Most notable, Algorand distributes the ALGO cryptocurrency it introduces into its economy with each new block to everyone who holds a certain amount of the currency in its wallets.
The platform further enables users to create smart contracts (programmatic agreements for building decentralized applications) and tokens representing both new and existing assets.
Such features successfully attracted a diversity of venture investors to early private sales of ALGO conducted to fund the development of the platform.

The Origins Of ALGO

Created by computer scientist and Massachusetts Institute of Technology (MIT) professor Silvio Micali, Algorand is perhaps rare. However, it began with an established academic who already had a distinguished career at its launch.
Micali, for example, is the recipient of a 2012 Turing Award, a notable accolade in the world of computer science, for his work with his colleague Shafi Goldwasser.
According to the Association for Computing Machinery, which awards the honor annually, Micali is credited with helping make cryptography a more “precise science.”
Micali would go on to author the Algorand white paper with Stony Brook University professor Jing Chen in 2017. Other academics and cryptographers have developed this foundational work in white papers on the project’s official website.
This work is funded by the Algorand Foundation, a Singapore-based corporation founded to advance the technology and received an allocation of ALGO tokens for its efforts.

Where Can I Buy ALGO?

Look no further if you’re looking to diversify your portfolio by adding some ALGO. You can easily purchase and sell trusted cryptocurrencies instantly at all of our nationwide Bitcoin kiosk locations. All you need to bring; is cash, valid identification, and your smartphone. We will supply the crypto and good vibes.

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