Algorand is the company behind the Algorand protocol, the world’s first open, permissionless, pure proof-of-stake blockchain protocol. Without the need for forking, the Algorand protocol provides the technology to enable an enterprise-level platform for Decentralised Finance (De-Fi), by supplying the necessary security, scalability, and decentralisation required for today’s lightning-fast global economy. Algorand seeks to expand use cases for cryptocurrency by accelerating transaction speeds and reducing the time it takes transactions to be finalised on the network. With block verification taking only seconds, Algorand’s transaction throughput is on par with the world’s largest payment service providers and financial networks. ALGO is the native token of Algorand and is used for many functions of the protocol, functionalities of the protocol, including voting on blocks and protocol upgrades. ALGO is distributed to everyone staking on the network with each new block.
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