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Algorand (ALGO) – must have been a name that has attracted great attention in the crypto community in recent days when this coin was listed simultaneously on many major exchanges such as Binance, Huobi, OKEx,. .within just a few days. The price of ALGO also skyrocketed after that but quickly “discharged” miserably. Today’s article I Love Bitcoin will help you find out what Algorand is? What’s special about it? Where to create a storage wallet and Buy and sell ALGO coins? Which exchange is reputable and safe? Should you invest in Algorand coin?
What is Algorand (ALGO)?
Algorand (token code: ALGO) is a Blockchain platform that offers decentralization, scalability, and high security, these are the 3 major problems that most current blockchains are facing and have not been able to fix. Algorand will provide a platform for new businesses and projects around the globe, helping them operate in a completely decentralized economy.
Algorand uses the Pure Proof-of-Stake (PPOS) dynamic protocol built on the Byzantine Agreement (BA), whereby a user’s influence on new block generation will be proportional to their stake in system or the number of tokens ALGO holds. This mechanism relies on a verification random function (VRF) and a proof-of-stake (PoS) algorithm to gain approval among users during the generation of a new block.
What problems does Algorand solve?
The development team of Algorand project want to build a scalable and Permissionless blockchain platform (anyone can join). Some of the features in Algorand’s Blockchain are as follows:
- Trust: Algorand provides decentralization and cryptographic tools to ensure reliability for users on the network. Anyone can contribute to and through the PPOS consensus mechanism. ALGO tokens will be stored in a distributed manner in global numbers without being centralized in one place.
- Transparency: Anyone can create transactions and check previous transactions on the Algorand network.
- High transaction speed: Algorand improves transaction speed, meeting the needs of users to make transactions almost immediately.
- Permissionless: To ensure Permissionless (anyone can join), Algorand’s Blockchain network will only require users to possess minimal computing power to join. This will attract and create conditions for many people to participate.
How are ALGO tokens allocated?
Algorand has a total token supply of 10,000,000,000 ALGO, of which:
- 25%: Team, fund and angel investor
- 30%: Publicly sold to the public
- 25%: Used to run node
- 17.5%: Participation Reward
- 2.5%: Granted to the end user
Project Algorand did not launch a private round sale, but parent company Algorand, Inc raised $4,000,000 from major investors in February 2018 and $62,000,000 in October 2018 in exchange for equity ownership company, the money is used for the development of the protocol.
NS token ALGO distributed by the Algorand Foundation through Dutch auctions (descending auctions). The first auction was conducted on June 19, 2019 with 25,000,000 Tokens sold at $2.4 and raised a total of 60,000,000 USD. Algorand will continue the public auction until the end of 600,000,000 ALGO per year for the next 5 years.
Algorand . project development team
- Silvio Micali (Founder): Professor of Electrical Engineering and Computer Science at MIT, member of the US National Academy of Engineering, winner of the RSA Prize for Cryptography and the Gödel Award for Scientific Theory calculator.
- Steve Kokinos (CEO): Former founder and president of Fuze, co-founder of BladeLogic lnc.
- Yossi Gilad (CTO): Postdoc Researcher at MIT and Boston University. Former research officer at IBM.
- W. Sean Ford (COO): Previously CMO at LogMeIn, CMO and COO of Zmags, CMO of Syncsort and VP of global business unit marketing at Oracle.
Besides, Algorand project There is also the service of many other elite members as well as a team of advisors that you can see more details at the official website below.
The current exchange rate of the virtual currency Algorand coin
At the time of writing this article (June 30, 2019), price 1 ALGO = $1.57 USD with a total market capitalization of updating.. and ranked 1861 on CoinMarketCap. The ALGO digital currency currently has a total circulating coin of updating…, the total supply is 2,574,173,288 ALGO. You can see Exchange rate Algorand coin We update in real time 24/7 to understand the price movement of this virtual currency.
Where is the safest place to create a wallet to store ALGO coin?
Algorand has officially launched mainnet success in May of this year, the whole ERC20 token has been migrated to the Algorand blockchain, the project has also launched its own wallet platform for ALGO coins on phones, now available for iOS and Android operating systems. You can create ALGO coin wallet on mobile and very convenient to use. Download link below:
Also, if you often buy and sell ALGO coin then you can always store it on the wallets of the exchanges for convenience of trading, without having to transfer back and forth, but of course the security level of the exchange wallet will not be equal to the wallet mentioned above.
In the next post, I will guide you how to create Algorand coin wallet on phone as how to use Algorand . wallet For details, remember to follow ToiYeuBitcoin for updates.
Where is it safe to buy and sell ALGO coin? Which exchange is reputable?
Algorand virtual currency is a fairly popular coin, so it is listed on many exchanges. In the near future there will be more exchanges that support ALGO. You can choose one of the decks below to buy and sell ALGO coin, should choose exchanges with large volume for higher liquidity. Below I will list the full list of exchanges that have ALGO coins:
In which, floor Hotbit, Binance and Bibox The three exchanges own the largest trading volume of ALGO coin. Binance just listed coin ALGO It’s been a few days but the volume is already quite large, this is also the largest exchange in the world right now, with its reputation and cheap fees, I recommend you to use Binance if you have a need. buy ALGO. See detailed instructions on Binance below:
Should I invest in Algorand coin?
In this section, I always give my personal subjective assessments, you can refer and make your own decisions Should I invest Algorand coin or not?This should not be viewed as investment advice.
Updating…
Find out more information about the coin ALGO
Epilogue
Ok. So I have finished sharing all the information about Algorand digital currency coin, hopefully the article will bring you a lot of useful information, so that you can make the best investment decision. If you feel the article “Algorand what? Where to create a wallet and Buy and sell ALGO Coin? Should you invest in Algorand?“Useful, don’t forget Like, Share and 5 star rating to support ToiYeuBitcoin Please. Leave a comment below if you need any help with anything. Good luck.
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