What is Algorand
¿What is Algorand?
Algorand is a blockchain project that promotes the sincerity of users who decide what to do with the currency and what value it acquires.
This blockchain stands out for being the permissionless blockchain developed by Silvio Micali in 2017.
Likewise, this project was publicly released on its test network (Testnet) on April 16, 2019.
Also, it debuted on the market with its native currency ALGO in the same year.
In turn, Algorand has a headquarters in Boston.
¿What does it offer?
Algorand aims to solve the three main problems that blockchains drag.
Anyone with a small computing intensity who has $ALGO and is online will automatically be eligible to be selected to participate in Algorand’s block consensus.
It also offers a Pure Pos development with open participation, which gives you access to flexibility, absolute solidity of transactions and low value.
¿How does it work?
Algorand works under a consensus protocol derived from Proof of Stake (called Pure Proof of Stake – PPoS).
This ecosystem is developed in order to ensure the complete collaboration of those who are part of the network. Providing security and speed.
What accesses a great scalability of the network, in turn assisting many users continuously, very limited delay times and above all the value of low commissions.
¿How is Algorand regulated?
Being a decentralized network there is no financial institution that regulates it, in turn the responsibility of operating and maintaining the network falls on the common users.
¿Why do people use Algorand?
People use Algorand because it promotes the performance and protection of their network, while Algorand rivals other distinguished financial and payment ecosystems.
Finally, Algorand has a quick deal, as users confirm transfers with a one-minute durability while uploading or scaling multiple people.
Likewise, ALGO owners can trust their tokens if they want to intervene in the consensus.
¿How is Algorand different from other blockchain projects?
Unlike other platforms, Algorand is developed to use the different technologies with pure proof of participation.
This was implemented to fix the drawbacks associated with the blockchain.
This setback pointed out that a blockchain platform cannot support the 3 terms that are the scalability of decentralization and protection, and also these 3 platforms emerged one, which is called the Algorand platform.
¿Where can i buy it?
One of the ways where you can buy ALGO is through Binance as it has a large tradable variety in trade, you can exchange a cryptocurrency, fiat cryptocurrencies or just use a debit or credit card to buy the stablecoin, deposits are also allowed banking.
https://www.binance.com/
¿Where to find more information?
Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?
