► Complete Review: https://www.coinbureau.com/review/algorand-algo/
► Coinomi Review: https://www.coinbureau.com/review/coinomi-wallet/
► FREE Giveaway: https://www.coinbureau.com/promo/giveaway
► Blockchain Trilemma: https://www.coinbureau.com/analysis/solving-blockchain-trilemma/
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://www.algorand.com/
► Foundation Website: https://www.algorand.foundation
► Whitepaper: https://bit.ly/2ZRFjK8
📱️ Socials 📱
► Official Blog: https://medium.com/algorand
► Twitter: https://twitter.com/Algorand
► Telegram: https://t.me/algorand
📝 Project Overview 📝
Algorand wants to create an ecosystem that gives everyone the opportunity to participate. They want to develop a blockchain that is able to overcome the “Blockchain Trilemma”
The project is backed by many professionals and was launched in 2018. It is built on the driving principles of immediate transactions, performance, simplicity, and adoption.
⚙️ Technology ⚙️
Algorand developers believe they have created a way to finalize a block through just a single voting round. This can help solve the problem of speed and scalability. The network may be able to acheive speeds of up to 1,000 transactions per second.
Algorand makes use of a Byzantine Agreement for its consensus algorithm – albeit optimised for speed and performance.
With an honest leader proposing the block, voting happens as soon as the participants on the network receive it. As a result, once the block makes its way through all participating nodes, it’s approved. This happens after only voting for a single round.
In order to avoid the threat of a network partition, Algorand has developed specific protections. They have also built technology that will help it recover in the event of said partition.
In order to acheive scale, the project uses verifiable Random Function mechanism which allows users to privately determine whether they’ve been chosen to participate in the following block.
💰️ Token 💰
The native token on the Algorand blockchain is called ALGO.
During an auction that they held earlier this year. They raised more than $60 million during its initial token sale. Algorand sold its 25 million tokens for $2.40 each.
Algorand plans on auctioning off around $600 million of these Algos every year. They have a total capped supply of ALGOs at 10 billion.
👨💻️ Team, Partners & Development 👨💻
The project is led by Silvio Micali, who serves as a founder. Micali is an MIT professor with a background in secure protocols, cryptography, and pseudo-random generation. Micali oversees all security and research associated with the project.
The CEO of the Algorand Project is Steve Kokinos. Before joining Algorand, Kokinos was the CEO at Fuze, a global communication platform. Also serving on the Algorand project is W. Sean Ford. Prior to Algorand, Ford was the CMO for LogMeIn.
The majority of the team are academics and they are based in Boston. Given the inroads to MIT many of the members on the team are tied to the university in some way.
📈 Trading & Wallets 📈
ALGOs are available on number of exchanges including Binance, Coinbase Pro, BitMax, Huobi etc. However, the bulk of the trading is taking place on HotBit.
There is a relatively decent spread of trading volume across these exchanges which means that liquidity should not be that much of a concern.
ALGOs can be stored in the Algorand mobile wallet that is avialable in both iOS and Android. You can also store it in Coinomi if you prefer a desktop wallet.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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