Cryptocurrencies are developing with more innovations, thanks to technology and curiosity. There’s ALGO, a new cryptocurrency and blockchain platform touted as Ethereum‘s primary challenge. It’s open-source, decentralized, and has high-speed transactions. Before investing in any cryptocurrency, it’s important to understand its basics. This article introduces Algorand Coin, what it is and how it works.
What Is Algorand Coin?
Algorand is a decentralized and open-source blockchain technology network with a native currency known as the ALGO coin. This means Algorand (ALGO) is both a cryptocurrency and blockchain platform. ALGO crypto is used to secure the Algorand blockchain platform and payments for all Algorand-based transactions.
Launched in June 2019, Algorand solves the Blockchain-cryptocurrency Trilemma of transactions’ speed, security, and decentralization. The idea behind Algorand was to achieve near-instant transactions while allowing larger volumes, much like fiat systems like...
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