Algorand Live Price

What is Algorand?

Algorand (ALGO) is a decentralized, open-source blockchain network that uses a proof-of-stake consensus mechanism that improves transaction speeds and security. It was launched in June 2019 and focused on payments with rapid processing of over 1,000 TPS or transactions per second. It is designed to achieve near-instant finality below five seconds. As a newer project, Algorand incorporates smart contracts and decentralized finance (DeFi) into its network. The native token ALGO is the cornerstone of the network and can be used to represent existing and new assets. Its near-automation process makes it unique, which allows stakers to hold the coin in a digital wallet and earn rewards passively. Algorand sets a hard supply cap of 10 billion ALGO, with 3 billion released into circulation within the first five years. A total of 1.75 billion will be distributed over time for estimated participation rewards, while 2.5 billion are allocated for relay node runners. A total of 2.5 billion ALGO is allotted for the Algorand Foundation & Algorand, Inc., while the remaining coin goes to end-user grants. Algorand's current market cap runs at $4.62 billion. It is a relative newcomer that has proven to be robust and innovative, with a highly equitable coin rewarding structure and proof-of-stake mechanism.

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How much is Algorand worth?

Algorand (ALGO) is worth 0.70 USD as of March 15, 2022, 2:17 am UTC time. View the interactive graph to see how much Algorand has changed in the last hour or historically. Algorand is a cryptocurrency and blockchain protocol that aims to be simultaneously scalable, secure, and decentralized. It uses a consensus algorithm called pure proof-of-stake.