Home Uncategorized Algorand: The Future of Finance on Blockchain
Uncategorized

Algorand: The Future of Finance on Blockchain

Share
Share

By Kapil Rajyaguru

 

Algorand is an open-source, decentralized blockchain network that leverages a two-tiered structure and a unique variation of the Proof-of-Stake (PoS) consensus mechanism to increase transaction speeds and achieve finality.

The Algorand platform is designed to process many transactions quickly, similar to major payment processors like Mastercard or Visa.

In addition, Algorand can host other cryptocurrencies and blockchain-based projects, making it a direct competitor to Ethereum. Thus, Algorand (ALGO) is both, a digital currency and a blockchain platform.

The Algorand platform and accompanying cryptocurrency were founded in 2017 by Silvio Micali, a professor at the Massachusetts Institute of Technology and noted cryptographer.

Algorand’s white paper was co-authored in 2017 by Silvio Micali and Jing Chen, a professor at Stony Brook University.

The total supply of Algorand’s native cryptocurrency ALGO is capped at 10 billion coins, with about 7 billion ALGO already circulating.

Algorand also enables users to create smart contracts and tokens that can represent both new and existing assets.

Moreover, Algorand is the layer-1 blockchain for decentralized and traditional finance. It has added direct fiat payment channels into their network by integrating with Alchemy Pay (ACH).

Alchemy Pay, is a payment solutions provider that connects fiat and crypto economies, and its global merchant network now supports Algorand’s $ALGO token for payments in 65 countries.

Even more, The Marashall Islands is adopting Algorand for the issue of its sovereign currency.

 

The Marshall Islands is the first country to adopt a national digital currency built on Algorand blockchain.

 

To summarize, what sets Algorand apart is its speed and advanced capabilities as it is fast, low cost, decentralized, carbon negative, and has advanced smart contract capabilities. Algorand can process thousands of transactions per second with instant finality and with transaction fees of fractions of a penny, whereas other blockchains can be much more expensive.

Share

Latest News

News
Binance Holds 87% Trump-affiliated USD1

Binance Holds 87% Trump-affiliated USD1 Stablecoin Faces Scrutiny

KEY TAKEAWAYS Binance holds about 87% of all USD1 coins, which is much more than any other big stablecoin on one exchange....

News

Bitcoin Correction Deepens As ETFs Bleed $500M+ & Market Fear Spikes

Key Takeaways Bitcoin price is under pressure and is trading around $69,000–$70,000, making investors worried. Bitcoin hit a strong wall at $71,000,...

News

Binance Adds 4,225 Bitcoin To SAFU Fund To Boost User Protection

In order to bolster its reserve for safeguarding user cash, Binance has added 4,225 Bitcoin, or about $300 million, to its Secure...

News

ENS Drops Namechain L2 Plan As Ethereum Scaling Improves

Ethereum domain provider Ethereum Name Service has abandoned plans to launch its own layer-2 network, Namechain, citing major improvements in Ethereum’s base-layer...

Latest Blogs

Best Low-Price MemeCoins With High Potential in 2026

Seeking the best low price memecoins to buy in 2026?  As the crypto space continues to evolve, the pursuit of cheap memecoins...

How USDT, USDC & New Stablecoins Are Replacing Banks Worldwide

A payment system that was quick, efficient, could transfer funds across borders seamlessly that too without a typical bank just with a...

Stablecoins vs Banks: Who Controls Money in 2026?

The matter of who has more control over money- Stablecoins vs banks has now moved to a real world discussion from just...

Exclusive Interview: John Dagostino on India’s Crypto Future

In a world where digital assets are quickly moving from the periphery of finance to the very heart of the global infrastructure,...

Related Articles

Who Owns the Most Bitcoin in 2025?

Who Owns the Most Bitcoin in 2025? Who owns the most Bitcoin in the...

Why Interoperability is the Holy Grail of Web3 in 2025? | Web3 Trends

Web3 and the Concept of Interoperability What is Blockchain Interoperability? As the...

Top Web3 Startups Funded in 2025: Who’s Building the Future?

Top Web3 Startups Funded in 2025: Who’s Building the Future? Web3 Startups...

Crypto Taxes in 2025: What Every Trader Needs to Know

Crypto Taxes in 2025: What Every Trader Needs to Know Overview of...