What is Algorand?

Algorand is a public cryptocurrency blockchain and protocol that aims to deliver decentralization, scale, and security for all participants. Its native currency is ALGO. Algorand uses a permissionless proof-of-stake protocol: all users who hold ALGOs are automatically eligible to participate in all functionalities of the protocol, including participating in consensus by proposing and voting on blocks, in proportion to their stake (how much ALGO they have). 

Other distinguishing factors that Algorand delivers include fast transaction processing, low-cost and decentralized consensus, and no forks. Interested in learning more about Algorand? Additional information about the Algorand protocol can be found on their website.

Was this article helpful?
6 out of 6 found this helpful
Have more questions? Submit a request


Article is closed for comments.