Algorand

What is Algorand?

Algorand (ALGO) is a public blockchain that uses a unique consensus mechanism, called pure proof-of-stake. The company claims that it offers high scalability and that it prevents forks from happening. Algorand makes it simple and fast for developers to build on blockchain; you can build applications on Algorand in your preferred programming languages.

The goal of Algorand

The Algorand foundation aimed to create an open, public and permissionless blockchain. They had a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy. Algorand aims to be a decentralized, secure, and scalable blockchain which provides a common platform for building products and services for a borderless economy.

Who started Algorand

In 2017, Algorand was founded by cryptography entrepreneur, and MIT professor, Silvio Micali. He designed the Algorand platform with an internationally recognized team of researchers, mathematicians, cryptographers, and economists.