Algorand is based on (a novel and super fast) message-passing Byzantine agreement. ALGO is the native currency of the Algorand protocol. Algorand was born to realize the true democracy and effectiveness of public ledger accounts. It requires a negligible amount of computation, making forks extremely unlikely.
Core Features of Algorand
While ensuring the security of each user’s account, Algorand ensures security against assaults at both the network and consensus protocol levels.
- Algorand selects users to submit block proposals for a certain round using cryptographic sortition. A committee of voters is chosen to vote on block proposals when they are submitted to the blockchain. The block can be approved if a super majority of the votes come from trustworthy participants.
- Processing power and IT requirements for the Algorand platform are quite low. Everyone online who has access to algos is instantly qualified to take part in block consensus.
- Partition resilience.The compute cost incurred by a single user in the Algorand protocol is limited to producing and verifying signatures as well as straightforward counting operations. Algorand’s consensus mechanism can expand to millions of users and maintain a high transaction rate as a result, all without imposing a major financial burden on the participating users.
How Many ALGO Tokens Are There?
The ALGO maximum supply is 10 billion.About 6.9 billion ALGO are currently in circulation across all ecosystems, with the remainder tokens being retained in safe storage by the Algorand Foundation.
ALGO live price
At the time of writing, the current ALGO price is $0.25 per coin. The 24-hour trading volume for the coin is $91,264,141.
Conclusion
Decentralization, size, and security are three technological hurdles that Algorand addresses that have hindered widespread blockchain usage for years.
Algorand(ALGO) consensus process is PURE PROOF OF STAKETM and permissionless. It guarantees complete accessibility, safety, and speed inside a totally decentralized network.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
 message-passing Byzantine agreement. ALGO is the native currency of the Algorand protocol.){kind=link}