What is Algorand?
Description
Algorand aims to be a highly efficient and scalable Blockchain platform that can facilitate the development of decentralized applications and speed up transactions. By Algorand we mean the name of the Blockchain platform and its native currency (ALGO).
Technology
Algorand is an open source Blockchain, which means that anyone can view and contribute to the code of the platform. Algorand uses an operating protocol called pure-proof-of-stake (PPoS), which achieves consensus among nodes by leveraging ALGOs staked through staking pools.
Algorand's blockchain uses a modified version of the proof-of-stake consensus mechanism. While the traditional proof-of-stake method allows cryptocurrency holders to validate transactions by staking their own coins, the pure-proof-of-stake method "recruits" by exploiting the randomness of validators within ALGO's staking pools, rewarding the addition of blocks to the Blockchain with new coins. This experimental consensus mechanism uses randomness to increase network security.
On Conio it is possible to buy and sell Algo (Algorand's native blockchain currency), however, it is not yet possible to withdraw and deposit Algo. On the other hand, you can use the "Convert" function to convert Algo to another asset from among those in the Conio marketplace.
What is Algorand?
Description
Algorand aims to be a highly efficient and scalable Blockchain platform that can facilitate the development of decentralized applications and speed up transactions. By Algorand we mean the name of the Blockchain platform and its native currency (ALGO).
Technology
Algorand is an open source Blockchain, which means that anyone can view and contribute to the code of the platform. Algorand uses an operating protocol called pure-proof-of-stake (PPoS), which achieves consensus among nodes by leveraging ALGOs staked through staking pools.
Algorand's blockchain uses a modified version of the proof-of-stake consensus mechanism. While the traditional proof-of-stake method allows cryptocurrency holders to validate transactions by staking their own coins, the pure-proof-of-stake method "recruits" by exploiting the randomness of validators within ALGO's staking pools, rewarding the addition of blocks to the Blockchain with new coins. This experimental consensus mechanism uses randomness to increase network security.
On Conio it is possible to buy and sell Algo (Algorand's native blockchain currency), however, it is not yet possible to withdraw and deposit Algo. On the other hand, you can use the "Convert" function to convert Algo to another asset from among those in the Conio marketplace.