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Algorand ALGO |
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$0.4158446 |
-2.61% (24h) |
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Marketcap |
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$3,487,640,113 |
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Volume 24h |
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$256,052,522 |
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.