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Algorand ALGO

$0.1854264

0.98 % (24h)

Marketcap

$1,583,033,104

Volume 24h

$69,873,695


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Description

Algorand (ALGO) is a blockchain platform that aims to provide a scalable, secure, and decentralized infrastructure for various applications. Launched in 2019, Algorand uses a unique consensus algorithm called Pure Proof-of-Stake (PPoS), which allows for fast and efficient transactions while maintaining decentralization. ALGO, the platform's native token, is used for transaction fees, staking, and governance. Algorand is designed to support a wide range of applications, from decentralized finance (DeFi) to digital identity and supply chain management.