Algorand is an open blockchain platform that is designed to create a decentralized economy without constraints. The main idea is to remove possible barriers to the mass adoption of cryptocurrencies.
- The platform operates on a consensus protocol based on the PoS (Proof-of-Stake) mechanism.
- High throughput: Capable of processing 1000 transactions per second after mainnet startup with less than 5 seconds latency.
- Low transaction fees in a single blockchain platform.
- High-level safety: developers are able to withstand multiple attacks, recovering quickly from attacks at the network level (elongated network partitions).
- Wallets that support Algorand will also be able to support stablecoins transferred or created on the basis of its blockchain network.
- Major organizations such as WorldChess, PlanetWatch, Verady, and Attestiv have implemented solutions developed by Algorand.
Cryptocurrency — ALGO.