What is Algorand (Algo)?

Algorand (ALGO) is both a digital currency and blockchain platform. The Algorand platform is designed to process many transactions quickly, similar to major payment processors like Mastercard or Visa. In addition, Algorand can host other cryptocurrencies and blockchain-based projects, making it a direct competitor to Ethereum.

What is Algorand Foundation?

The Algorand blockchain network has its native cryptocurrency, ALGO. ALGO drives the borderless economy and the system of incentives. Algorand Foundation holds the token to contribute to the Algorand blockchain’s stability and support the Algorand community, ecosystem building, and research.

Is Algorand decentralized?

The jury's still out on whether it's sufficiently decentralized. The maximum total Algorand supply is 10 billion ALGO tokens. Algorand, Inc., holds 2 billion tokens, and the Algorand Foundation has 500 million. With 25% of the total supply going to those two organizations, Algorand's tokenomics have been criticized, even by its supporters.

How many Algorand coins are there?

The total supply of ALGO is capped at 10 billion coins, with about 7 billion ALGO already circulating. Algorand (ALGO) is a blockchain platform and cryptocurrency designed to function like a major payment processor. The Algorand blockchain uses a consensus mechanism it calls pure proof of stake.