ALGO Algorand Prices, Charts and Graphs | Coinread
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AlgorandALGO#194

$1.70
-1.58% (-$0.027, 24H)
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  • Market Cap$222,170,821
  • Volume (24H)$200,233,109
  • Circulating Supply130,313,413
  • Max Supply210,700,000
  • High (24H)$1.77
  • Low (24H)$1.70
  • Change (1H)-0.59%
  • Change (7D)-1.1%
  • Change (1M)-9.9%
  • Change (1Y)450.74%

Designed by MIT computer scientist Silvio Micali and founded in 2017, the Algorand (ALGO) protocol is open-source software used by the Algorand Foundation. As the first blockchain to provide immediate transaction finality, Algorand users take comfort in the stability of a platform which promises no forking and reduces uncertainty. Algorand’s committee voting makes it impossible for more than one block to be added to its chain at once, meaning all transactions are final (unlike in a Proof-of-work currency like Bitcoin, which holds the possibility of simultaneous ‘branches’ appearing if a block is solved by two users at once). Dedicated to ‘fulfilling the global promise of blockchain technology’, ALGO is mined with pure Proof-of-stake consensus by its community in a truly decentralised network; here, users are rewarded proportionately according to their stake in each block added to the chain. Nodes are run by diverse companies around the world, and committees of users are selected randomly and in secret to approve every block and reduce the possibility of centralisation. With these blocks completed in a matter of seconds, Algorand’s processing is on a par with large financial networks such as Mastercard and Visa.

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