Algorand is a highly scalable, energy-efficient blockchain platform designed to address the blockchain trilemma of scalability, security, and decentralisation. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand employs a Pure Proof-of-Stake (PPoS) consensus mechanism, which ensures quick finality and equitable participation.

The platform supports a wide range of use cases, from DeFi and NFTs to central bank digital currencies (CBDCs) and enterprise solutions. Algorand’s smart contract capabilities and Layer-1 features make it a versatile platform for developers seeking high performance and reliability.

Algorand is known for its commitment to sustainability, operating as a carbon-neutral blockchain. Its ecosystem has attracted numerous projects, including government initiatives and major financial institutions, thanks to its speed, low transaction costs, and security.

ALGO, the platform’s native token, is used for transaction fees, staking, and governance. With its focus on innovation and environmental sustainability, Algorand is a contributor to the development of blockchain platforms.