Algorand (ALGO)
| Market Cap | $1,531,165,244 |
|---|---|
| Trading Volume | $87,643,992 |
| Volume / Market Cap | 0.0572 |
| Total Supply | 7,425,565,124 ALGO |
| Max Supply | 10,000,000,000 ALGO |
Algorand is currently trading at $0.2125, after a price change of 1.26% in the last 24 hours.
Ranked as cryptocurrency #33 by capitalization today, ALGO market cap is valued at $1,531,165,244. ALGO trading volume reached $87,643,992 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on ALGO coin price prediction page.
ALGO Coin Price PredictionWhat is Algorand?
Algorand is a decentralized cryptocurrency that guarantees high security and scalability based on decentralized Byzantine agreement protocol. This crypto came into being in 2017 when it was launched by Silvio Micali, an Italian computer science professor who teaches at MIT. Today, the operations of this platform are controlled by the Boston-based Algorand, Inc. This network was designed to process safe high-speed payments and can execute more than 1000 orders per second.
Algorand and its native token ALGO apply the pure proof-of-stake mechanism, which implies high involvement of the community members. The users are chosen to verify new new blocks at random and learn of being selected with a Verifiable Random Function (VRF).
A larger stake a user has in the coin increases the probability of beng selected – this mechanism makes it impossible for small stakeholders to prevent deals from going through. The majority of stakeholders have the power to do so, but since it causes the devaluations of their assets, it is not something worth doing.
There is no limit to the number of members who can take part in the voting process, and the higher speed is ensured by breaking the nodes in two types Relay nodes for communication and Participation nodes to run the voting process.