Algorand
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About Algorand

Algorand was the brainchild of professor Silvio Micali, a computer scientist at the Massachusetts Institute of Technology (MIT). Algorand is one of the newer projects that seek to expand the possibility of cryptocurrency usage by boosting transaction speeds by minimizing the time needed to verify transactions.

The project successfully attracted many early-stage investors at the private sale stage of fundraising, which helped with the token launch. In many ways, the Algorand token is built to take cryptocurrencies to the next usage level and smooth over some of the issues that early blockchain platforms faced.

ALGO is the native currency of the Algorand blockchain and protocol, and platform users who hold the token are automatically able to use any functions on the platform. These options include participating in consensus actions by nominating and voting on blocks based on the proportion of ALGO tokens that they have.

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