Cryptocurrency price LIVE – Bitcoin and Dogecoin tank as Ethereum’s Amp token rises 15.33% in a week


Founded by Italian computer scientist and professor Silvio Micali, Algorand operates as an open-source blockchain network.  

This means that the cryptocurrency is public and records can be easily found.

Specifically, Algorand uses a pure proof-of-stake protocol.

This allows randomly chosen users to propose blocks and vote for them, according to the cryptocurrency.

Moreover, Algorand has been expanding into non-fungible tokens (NFTs), decentralized finance (DeFi), as well as virtual currencies of central banks.

Also, Marie Tatibouet, chief marketing officer of crypto exchange, noted Alogrand’s smart contracts in its “layer-1 (ASC-1).”

She said: “The contracts can run properly, whilst experiencing the security inherent in the base protocol.”

According to ALGO, it has a maximum of 10billion supply mined at genesis.

Moreover, Algorand is currently ranked as the 20th largest cryptocurrency on CoinMarketCap, commanding a market capitalization of $11.67billion.