Algorand IEO Rating
The Algorand crew has a vision: a borderless and open economy where value is accessible to all and everyone has an equal chance at gaining wealth. View more...
To achieve that ideal, they designed a platform that aims to address all current technical and conceptual limitations of the blockchain technology, namely the massive computing resources, high cost of transaction, lack of actual decentralization etc.
From the start, they developed a technology ready to scale and service the entire world with their Algorand cryptocurrency. Algorand uses a “pure proof-of-stake” mechanism which, unlike all other major players, does not require complicated cryptography to deliver security, speed and transparency. This allows them to deliver immediate transaction finality. They are open-source and use a permissionless consensus model;
Where they also shines is with their strong team of experts (business, cryptography etc.) and academic researchers. Silvio Micali, CEO & founder is a Turing Award winner and a well-known crypto-expert. A MIT scientist, he co-invented the Zero-knowledge protocol. And their expertise shows in many aspects of the project, for example they implemented a novel message-passing Byzantine agreement.
As a nice bonus, the platform is compatible with Tether, a stablecoin used as a dollar alternative. Thank you for reading and feel free to share your comments on our Algorand review.