About Algorand
What is Algorand?
In 2017, Silvio founded Algorand, a fully decentralized, secure, and scalable blockchain which provides a common platform for building products and services for a borderless economy. At Algorand, Silvio oversees all research, including theory, security and crypto finance.
Algorand removes the technical barriers that for years undermined mainstream blockchain adoption: decentralisation, scale, and security.
The consensus mechanism is permissionless and PURE PROOF OF STAKETM. It ensures full participation, protection, and speed within a truly decentralized network. With blocks finalized in seconds, Algorand’s transaction throughput is on par with large payment and financial networks.
And Algorand is the first blockchain to provide immediate transaction finality. No forking. No uncertainty.
More information can be found about Algorand Blockchain here
The era of a decentralized, borderless economy is here. Algorand is the foundation. Now what will you build?
Algorand is Green Crypto
Algorand's Commitment to Sustainable Blockchain
Algorand was built as a green blockchain with an environmental impact focus from the very beginning. Their founder Silvio Micali explained as far back as 2018 his focus on sustainability for our planet with next generation technology. With his unique consensus mechanism, Algorand is far more energy efficient than other blockchains, and is going further by offsetting its small carbon footprint in partnership with ClimateTrade.
Find out more here
Pure proof of Stake Consensus Mechanisms
Algorand uses cryptographic solution to select users to propose blocks for a given round. When a block is proposed to the blockchain, a committee of voters is selected to vote on the block proposal. If a super majority of the votes are from honest participants, the block can be certified.
Algorand smart contracts
Smart contracts are one of the most beautiful and powerful gifts of the blockchain to the world. But they are also technically very challenging. Traditional smart contracts are solely implemented at layer 2 and are slow, expensive, and fragile. By contrast, Algorand’s smart contracts are very much non-traditional, efficient, and secure, and are implemented both at layer 1 and at layer 2.
Algorand’s layer-1 smart contracts are executed at the very consensus layer, the most secure layer in any blockchain, without slowing down production in the least. These smart contracts are thus as efficient and secure as ordinary payments. They are also called TEAL contracts, because they are written in a special language: TEAL, short for Transaction Execution Approval Language.
More information can be found here
To get started building on Algorand head to our
Speed
Scale
Secure
Transparent
The fixed and immutable total supply of Algo was created at the launch of the Algorand blockchain. At any time, anyone can see how many Algo are in use.
Your Dream. Our Mission.
The Algo
Introducing the Algo – possibly one of the most important, native tokens ( coins ) in the world of cryptocurrency today. The Algo is the native token of the Algorand blockchain. As such, the Algo has all the key features of the Algorand blockchain itself.
- It’s super-fast: every transaction with Algo is complete in ~4 seconds.
- It’s scalable: whether you are the first transaction or the 10 millionth transaction in a day, your Algo transaction will still take place in ~4 seconds.
- It’s secure: Algorand and Algo transactions are secured by the unique Pure Proof-of-Stake consensus that powers the Algo blockchain.
- It’s almost free to use: unlike many blockchains, where every transaction is hugely expensive, every Algo transaction today, no matter the size, costs a fraction of a penny.
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