Algorand (ALGO)

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“We are the world’s most decentralized, scalable, and secure blockchain infrastructure. From decentralized finance to generative NFT art (and everything in between), our sustainable blockchain is powering the economic models of the future.”

In 2017, Silvio Micali (a professor of computer science at the Massachusetts Institute of Technology) founded Algorand, a fully decentralized, secure, and scalable blockchain which provides a common platform for building products and services for a borderless economy.

Silvio Micali is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols.

What Makes Algorand Unique?

Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is designed so that there are lower transaction fees, and is based on a permissionless pure proof-of-stake (PoS) blockchain protocol.

Major Developments

  • Universal Music Group to Release NFTs on LimeWire’s Algorand Marketplace [May 2022]
    • music label behind Taylor Swift, U2, Kendrick Lamar, and BTS will let artists drop NFTs on the new Web3 version of LimeWire