A Permissionless Pure Proof-Of-Stake (PoS) Blockchain.
- Algorand is an open-source, permissionless, pure Proof-of-Stake (PoS) blockchain protocol for “the next generation of financial products”. As such, Algorand ensures "full participation, protection and speed within a truly decentralized network".
- Algorand is built by a team with deep roots in academic theory and science, led by Turing award winner Silvio Micali, who has dedicated his career to pioneering research in the field of cryptography.
- Algorand competes with large payment and financial networks and focuses on industrial use-cases. One of the more notable use-cases involved the Marshall Island's plans to issue Central Bank Digital Currency.
- Furthermore, Algorand offers highly-customizable smart contracts (ASCs), Asset Tokenization (Algorand Standard Assets), and Atomic Transfers built directly in Layer-1.
- ALGO is the native asset of the Algorand Protocol and serves as the medium of exchange and store of value. ALGO must further be staked by network validators.
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