Started in June 2019 by Silvio Micali, an MIT professor with a profound background in computing, Algorand sets out to establish the so called "borderless economy" by finding balance in security, scalability, and decentralization. Algorand was built with true democratic user participation in mind. This is established through Algorand's Pure Proof-of-Stake.
Pure Proof-of-Stake
Algorand's model uses Pure PoS that features much less computing power demand while also having the ability to settle transactions quickly. The system operates on a decentralized consensus basis. The platform itself is very open in that anyone may join the platform without any pre-authorized approval. I believe Algorand's Pure PoS is a definitive improvement on the concept compared to other cryptocurrencies currently. I believe the way Micali designed the protocol has so far proven to be effective.
Network Gas Fees
Gas fees on Ethereum and other networks can be truly inexplicably high. Two important features many up and coming institutional investors are looking for are gas fees versus network speeds. Algorand is currently a leader in these features amongst new networks. Transaction speeds are notably fast while only costing 0.001 ALGO.
With a current market cap under $4 Billion USD, this project has plenty of room to grow this year. Algorand is a very young, promising network and I believe this is a project to keep a close eye on as we move into the future.
I would encourage everyone to learn more about the Algorand network by visiting their website ( https://www.algorand.com/ )
- Zacharias
