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Algorand

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  • What is Algorand ?

    Algorand (algo) is a cryptocurrency that is an autonomous, distributed network of blockchains. It was built to provide better support to applications. They were developed to provide better security, efficiency, and easy expandability. As a result, it allows the practical application of all the essential features of an application to be easily carried. 

    It aims to build reliability and trust among traders and blockchain networks through computation. It encountered a transaction count of 1 million every day since the day of its launch. The primary purpose was, however, to increase the speed of transactions, and in turn, improve efficiency. It saw a gradual reduction of transaction speed in Bitcoin processing and wanted to improve that for blockchains.

    Primary features of Algorand

    • The Algorand cryptocurrency removes the possibility of mining. 
    • It is developed on a Proof-of-stake logarithm for all the blockchain networks.
    • It is self-sustaining and supports itself in the processing of the blockchains. 
    • It provides a non-forkable network of blockchains.
    • It takes a systematic approach to remove any kind of security threats.

    Is Algorand a promising cryptocurrency?

    Algorand (algo) is going places in the year 2021. According to a market study, it gave a return of 191.48% in the past year. Moreover, market analysis suggests that the coin may perform well in the future. And, since Arrington Capital has invested $100 million in the Algorand project, it can reach new heights very soon.

    How to use Algorand ?

    The Algorand cryptocurrency is becoming more and more profitable recently, and it’s enhancing its reach day by day. You can use them in the following ways:

    • Exchange: The Algorand coin can be easily used to exchange funds and also for trading.
    • Investment: The Algorand coin price is subject to increase in the coming years, and therefore, investing in them will be highly profitable.
    • International Transfer: Allows easy transfer of funds all across the globe without worrying about any levy charges.
    • Online payment: Several e-commerce websites accept Algorand coins as payment methods and can be used for online payments.

    Pros & Cons of Algorand

    Pros

    • Transactional Speed:

    Provides faster transaction speed with increased efficiency.

    • Good Investment Market:

    Better investment market as Arrington has invested $100 million in the stocks.

    • Good Network of Blockchains:

      It provides a non-forkable network of blockchains.

    Cons

    • Easily Cracks:

      It crackdowns when subjected to indirect traders.

    • Too Centralized:

      The Coin has an increased level of centralization due to the increased number of transactions made every second.

    Trade Algorand on CoinSwitch

    • It only requires a small amount of Rs.100 to start investing in the Algorand (algo).
    • You can easily exchange digital currencies.
    • It does not have any hidden processing fees involved in the currency exchange.
    • You can easily withdraw the amount anytime as there is no maturity period.
    • You get the best price for exchange available in the international trading market.

    Algorand ICO summary

    The ICO for Algorand (algo) ended on 20th June 2019. In the initial offering, 30% of the stock was available for crowd sale and 25% was kept for investors and founders. The remaining 45% was held for participation rewards, network grants, and end-user processing. In the first offering, 25 million algos were distributed at $10 pricing. It went on to raise $60,402,219.

    FAQ's on Algorand

    1. Who is the founder of Algorand (algo)?
      Silvio Micali is the founder of Algorand (algo) cryptocurrency.
    2. What is the market cap of Algorand (algo)?
      The market cap of ALGORAND is $ 7,801,614,581.
    3. What is the circulating supply of Algorand (algo)?
      The circulating supply of ALGO coins in the current market is 3,250,672,742 ALGO.

    Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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Algorand allows the practical application of all the essential features of an application to be easily carried.

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ALGO Price Statistics

Algorand Price Today


Algorand Price

30.6683


Price Change24h

3.17%


Price Change7d

1.33%


Market Rank

#29


Market Cap

19,370 Cr


Trade Volume24h

1,633 Cr


Circulating Supply

693 Cr. ALGO


Trading Activity

39% Buy 61% Sell

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