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Algorand

ALGOUSD
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0.110

-0.001-0.63%
TradingKey Chart
Time
1m
15m
30m
1h
4h
D
W
M
D

Today

-0.63%

5 Days

+13.71%

1 Month

+18.35%

6 Months

+26.64%

Year to Date

+1.57%

1 Year

-51.28%

Key Data Points

Opening Price

0.111

Previous Closing Price

0.111
Price Range of the Day
0.1070.112
52-Week Price Range
0.0750.226
More news coming soon, stay tuned...

Algorand Technical Analysis

1m
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Technical Indicators

Strong buy

Summary

Buy

Moving Average

Strong buy

About {index_name} Algorand

Algorand is a decentralized, open-source blockchain network designed to facilitate fast, secure, and efficient transactions. It was founded by Silvio Micali, a renowned computer scientist and recipient of the Turing Award. The Algorand blockchain operates on a pure proof-of-stake (PPoS) consensus mechanism, which is different from the energy-intensive proof-of-work used by Bitcoin and other older blockchain networks. In the Algorand network, validators are randomly selected based on their stake in the network, rather than relying on mining power. This makes the network more scalable, cost-effective, and environmentally friendly compared to traditional blockchains. The Algorand cryptocurrency, known as ALGO, is the native token of the Algorand network. ALGO is used for various purposes, including staking, transaction fees, and participation in the network's governance. The Algorand token was initially distributed through an initial coin offering (ICO) in 2019, with a total supply of 10 billion ALGO.

Who are the founders of Algorand?

The founder of Algorand is Silvio Micali, a professor of computer science at the Massachusetts Institute of Technology (MIT) and a recipient of the Turing Award for his contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies, and blockchain protocols.

What makes Algorand unique?

Algorand was designed to speed up transactions and improve efficiency compared to other blockchains like Bitcoin. It is based on a permissionless pure proof-of-stake (PoS) blockchain protocol, which aims to reduce transaction fees and eliminate the energy-intensive mining process.

How many Algorand (ALGO) coins are in circulation?

The Algorand blockchain was launched with a fixed and immutable supply of 10 billion ALGO tokens. The distribution of these 10 billion ALGO tokens is set to complete by 2030, rather than the initial plan of 2024.

Algorand

0.110
-0.001-0.63%
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