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Algorand price

(ALGO)

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$2.4B
$178.9M
3.1B ALGO

About Algorand

Algorand is a cryptocurrency and blockchain protocol that aims to be simultaneously scalable, secure, and decentralized. It uses a consensus algorithm called pure proof-of-stake.

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Official website

What is Algorand (ALGO)

Algorand aims to solve some of the technical barriers of existing blockchain infrastructure. In particular, the project seeks to improve decentralization, scalability and security. Launched in June 2019, Algorand provides a foundation for existing businesses and new projects to operate globally in the emerging decentralized economy. Algorand's permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality required to build scalable blockchain projects.

What is Proof-of-Stake?

Proof-of-stake is a type of consensus algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Please note that although this is a feature of ALGO, proof-of-stake/staking and voting are not currently supported on Coinbase.

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