What is ALGORAND and How to Buy Algorand ALGO to your wallet with Credit Debit Card
Updated: Sep 20
SAY HI TO ALGORAND!
Algorand is a self-sustaining, decentralized,pure-proof-of-stake blockchain network that describes itself as the future of finance. It claims to be super-fast with a 4 second transaction time, scalable due to its ability to handle a massive amount of transactions daily, secure because of the unique Pure Proof Of Stake consensus mechanism, with quite cheap transaction rates at the fraction of a penny. Not only this, but it also supports a wide range of applications.
The Algorand mainnet went live in June 2019, and today it claims to handle more than 10 million transactions a day all within 4 seconds.
WHO CREATED IT?
The blockchain was founded by Silvio Micali a CS (Computer Science) Professor at MIT. He has been awarded the Turing Award for his significant contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies, and blockchain protocols making him one of the most eminent figures in the Blockchain World.
HOW DOES IT MAKE A DIFFERENCE?
With lightning, cheap transactions, and reliable efficiency, using Algorand raises multiple questions for Bitcoin and Ethereum which in turn have higher transaction costs. The blockchain also claims to be Carbon-Negative at the time of writing, and the ecofriendly Pure-Proof-Of-Stake consensus mechanism unlike Bitcoin’s proof of work. Embedded directly into Layer-1, on its protocol upgrade, it vastly expands the range of decentralized applications (DApps), DeFi (Decentralised Finance) solutions, and other processes that can be created on the blockchain without any entrenchment on performance or security.
ITS NETWORK ARCHITECTURE
Algorand claims to be transparent, inclusive, collaborative and also has an open-sourced node repository that is publicly available for anyone to survey, use and build upon. It comprises a dedicated team sharing a vision of a decentralized future towards its maintenance.
The Algorand ecosystem consists of a mix of more than 500 International Organisations using its space to expand and build themselves. Governments such as those of The Marshall Islands and El Salvador are using Algorand to efficiently operate in the global economy. It also encompasses environmental and climate organizations such as Global Carbon Holding, Climate Trade, Planet Watch. Etc. Global Carbon Holding uses the blockchain to tokenize Carbon Credit assets in Asia and makes way for a global, transparent marketplace where carbon offsets can be purchased along with the highest standards of quality and reliability which is quite significant in itself. Apart from this, the chain has various university partners supporting it including UC Berkley, University of Waterloo, Hackbridge, etc.
THE ALGO TOKEN
The ALGO is the official token of the blockchain network. It has a maximum supply of 1 Billion tokens, a circulating supply of 5,235,837,612 tokens, and a liquid supply of 5,774,833,343 tokens which is in turn held directly by the Algo Foundation.
Buy Algorand ALGO with Credit Debit Card to your Algo Web wallet
Buy Algorand (ALGO) with a credit card, debit card, or bank account and sent it directly to your Algorand wallet:
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