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What is Algorand?
Algorand is the world’s first permissionless, open, pure proof-of-stake blockchain protocol. It requires no forking and provides all of the scalability, security, and decentralization needed for today’s economy.
Blockchain was designed to eclipse slow, costly, and outdated methods of transactions. It uses smart contracts to execute transactions automatically. But developers of the first-generation blockchains face issues preventing their applications from being accepted in the mainstream. As a result, these early smart contracts have become slow to propagate. They’re costly and impractical for real-world purchases. These problems need to be resolved before blockchain can become mainstream.
Algorand uses smart contracts called ASC1 that sidestep these issues while maintaining itself as a trustless, seamless solution. ASC1s are programs that are implemented on-chain and can also enforce custom rules and logic automatically. Algorand shows itself to be fast, scalable, and cost-effective. Additionally, its functionality can enable sophisticated and complex applications.
The Algorand platform has the ability to scale at speeds of over 1000 transactions per second, and verified in under five, with transaction fees of one-one thousandth of an Algo. Because it is a trustless system, the risk is reduced, and its templated system lowers the barrier to entry.
ASC1s are designed to disrupt economies and create new business models across industries, with efficient and automated transactions and applications.
Algorand Market Price Ticker Chart
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Algorand Frequenty Asked Questions
Where does Algorand (ALGO) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Algorand currently ranks in position 74 out of the top 1000 cryptocurrencies. Another important factor in popularity is Algorand‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Algorand has a market cap of $ 814,994,530, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 830,530,031,224, Litecoin at $ 10,853,933,229, Ethereum at $ 160,939,373,553, Tether at $ 35,198,057,071, and XRP at $ 18,909,007,446.
What is the price of Algorand (ALGO) today (updated in realtime)?
The current price of Algorand is $ 1.01 in USD. (The price in Euros is 0,836640 €; and the price in Bitcoin is Ƀ 0.00002300 BTC.)
How has Algorand (ALGO) performed recently?
Algorand‘s price has decreased in the last 24 hours by -14.96%. The change in price over the last seven days was -23.37%. The trading volume over the last 24 hours was $ 832,421,010. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Algorand‘s (ALGO) market supply?
The total circulating (available) supply of Algorand is 803,088,849 ALGO. The total supply of Algorand is 10,000,000,000 ALGO.
What is the 24 hour volume for Algorand (ALGO)?
The 24 hour volume of Algorand is $ 832,421,010.
What is Algorand (ALGO) official website?
Algorand‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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