ALGO icon
ALGO
Algorand
$0.00000000AUD
All
1W
1M
1Y

Algorand (ALGO)

24h

+0.00%

7d

-0.00%

1m

-0.00%

What is ALGO?

The Algogrand (ALGO) protocol is designed to solve the 'blockchain trilemma'. That is, one cannot have decentralisation, scalability and security on a single blockchain platform, unless one component is toned down. Algogrand proposes the concept of democratic user participation that is based on proof-of-stake and self-validating transactions. Each user can read every block and is given an opportunity to write a transaction in a future block. Users can influence the selection of a new block based on the size of their stake in the system which is measured in ALGO tokens. The likelihood of being chosen to vote on block proposals is proportional to the stake volume. Algogrand promotes the concept of protecting its users from potential attacks by not relying on the fear of losing one's stake, but by making malicious actions of a minority of users altogether impossible.

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