Algorand price 🔥 Btc price 🔥 Algorand news 🔥 Bitcoin news 🔥 Bitcoin VS Algorand crypto 🔥 Bitcoin price
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⚡ What is what is algorand crypto (ALGO)
Algorand is a blockchain founded in 2017 by Professor Silvio Micali, a computer scientist from MIT. Its mainnet went live in June 2019 along with the launch of its native cryptocurrency, ALGO. The blockchain aims to improve the scalability problems of older blockchains while supporting smart contracts. Algorand's blockchain is decentralized and public with a Pure Proof-of-Stake blockchain. You can also use Algorand to create customized layer-1 blockchains.
The blockchain's Pure Proof of Stake consensus mechanism helps decentralize the power seen in traditional Proof of Stake models. Anyone who wants to take part and stakes (even small amounts) has the chance to be randomly selected as a validator or block proposer.
ALGO is Algorand's native coin with a maximum total supply of 10 billion. The project aims to have the supply fully distributed by the end of 2030. You can earn ALGO by holding at least 1 ALGO in a non-custodial wallet. This occurs whenever a new block is successfully added, and you can expect roughly 5-8% APY. ALGO is a popular coin to hold for investors who want to make returns passively without needing to stake the coin. You can also use the coin to pay network transaction fees and staking when generating consensus.
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⚡ Our videos ARE NOT financial advice
The information presented in this video is for educational and entertainment purposes only and is not financial advice. I am not a financial advisor. Trading can result in loss of funds. Individuals must consider all risk factors including their own personal financial situation before trading. All individuals are responsible for their own trades and investments. CryptoOK and affiliates are not responsible for individual loss due to poor trading decisions or any other actions which may lead to loss of funds.
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