What is Algorand?

​Algorand is a decentralized ledger protocol that enables fair and transparent, secure, and accurate transactions. The Algorand network is powered by Algo tokens, which are used to fuel transactions and power the network. Algorand offers a number of features that make it an attractive option for businesses and individuals looking for a blockchain solution. For businesses, Algorand provides instant finality, meaning that transactions cannot be reversed or double-spent. This makes Algorand ideal for applications where security and trust are paramount. In addition, Algorand's scalability means that it can handle large volumes of traffic without compromising performance. Individuals can also benefit from using Algorand, as it offers a number of features that make it easy to use and manage your assets. For example, the Wallet Connect feature allows you to connect your wallet to multiple devices so that you can access your funds from anywhere. You can also easily send and receive payments with the help of the Pay Feature.

How Does Algorand Work?

​Algorand is a public blockchain protocol that enables anyone to transact or save the Algorand cryptocurrency. Transactions on the Algorand network are verified by consensus among participating nodes, eliminating the need for energy intensive mining operations.
Algorand is designed to be more scalable and secure than existing blockchain protocols. The Algorand network can process transactions quickly and securely without compromising decentralization. The key to Algorand’s security and scalability is its use of a novel consensus algorithm known as “Pure PoS” or “Proof of Stake”. Pure PoS works byRandomly selecting a group of users (known as “block validators”) to verify each block of transactions.

Block validators are chosen based on their holdings of Algos, the native cryptocurrency of the Algorand network. The more Algos a user holds, the greater their chances of being selected as a block validator.

This system eliminates the need for energy intensive mining operations while still maintaining security and decentralization. It also makes it possible for the network to process large numbers of transactions quickly and efficiently.


Interesting Facts about Algorand :


1. High transaction rates of up to 6,000 TPS

2. under five seconds for a quick conclusion

3. There is little possibility that the blockchain will fork

4. Holders of ALGO receive a proportionate part of newly produced ALGO.

5. Requires two-thirds of validators to be truthful


Tokenomics :


TOKEN NAME : ALGORAND

SHORT NAME : ALGO

TOTAL SUPPLY : 7,349,539,709

CIRCULATING SUPPLY : 7.13B


How to Buy Algorand (ALGO) ?

Follow the below steps to buy Algorand (ALGO),

1.Create a crypto trading account with Koinbazar global cryptocurrency exchange platform.

2. Complete your KYC verification process.

3. Add your bank account

4. Start to buy ALGO coins with Indian rupees (INR) & Tether (USDT)

ALGO/INR -> https://koinbazar.com/trade/ALGO_INR

ALGO/USDT -> https://koinbazar.com/trade/ALGO_USDT

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