$0.0885−2.20% 24hThe Algorand price in context
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About Algorand
Algorand launched in 2019, created by Silvio Micali, an MIT professor and Turing Award laureate for his work on zero-knowledge cryptography. The network uses its own variant of proof-of-stake in which a small committee of validators is drawn for each block by cryptographic lottery — nobody knows in advance who will be picked, so there is no one to bribe or target.
The practical consequence is that a block is final immediately and the chain never forks. There is no need to wait for further confirmations, as is customary with Bitcoin or Ethereum. Anyone can stake with no minimum and without locking funds.
Algorand has long positioned itself toward institutions, tokenising real-world assets and government projects — it worked on the Marshall Islands' digital currency, among others. Critics note that despite the technical quality, real transaction volume stays low against the competition.