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What is Algorand all about
Algorand is a permissionless non-forkable blockchain with its own consensus mechanism called pure proof of stake (PPoS). It is because of this consensus mechanism, Algorand is able to become scalable and secure with fast block creations and transactions without compromising any bit of decentralization.
In PPoS, a small set of verifiers are selected randomly to participate in a voting system. An elected leader proposes a block to this set for a single round of voting, and if the leader is honest, the block verification is completed with only 2 above-mentioned steps. With the help of Verifiable Random Functions, a unique mechanism developed by Algorand, participants will be able to check if they are selected in the set of verifiers.
Algorand is built on the core principle of making the development of dapps and blockchain-based projects simple and quick. The smart contracts running on Algorand’s blockchain are highly customizable and are able to operate at over 1000 transactions per second.
Algorand is founded by turning award-winning MIT professor and co-inventor of zero-knowledge proofs, Silvio Micali. The company was able to raise close US$ 120 million in their ICO and private sale rounds. Other than an experienced team of executives, the project has its own Algorand Foundation which takes charge of all governance, administration, and research-based activities.
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ALGO Questions & Answers
What is the current price of Algorand?
Today, the price of Algorand is 1.51 EUR.
To date, what was the highest price of Algorand?
The highest price of Algorand was registered on 2019-06-20, when it was at 3.15 Euro.
What will Algorand cost 1 month from now?
According to our short term price prediction, we estimate that Algorand's value will be between €1.46 and €2.05 in 30 days.
Is Algorand going to cost more in 3 months?
On the basis of our price prediction we suspect the cost of Algorand will be between €1.46 and €2.74 in 90 days.
What is the price of Algorand going to be in half a year?
Difficult as it is forecasting long term according to our short term price prediction we estimate that Algorand's price will be anywhere between €1.46 and €3.91 half year from now.
How popular are topics related to Algorand on online?
49474 individuals took part in discussing Algorand online on Reddit in the last 48 hours. Algorand's Twitter handle currently is followed by 163733 people.