Algorand Price (ALGO)

Algorand (ALGO) is a distributedledgerthat aims to remove the technical barriers in the blockchain and has a permissionless consensus mechanism. 

According to the Algorand whitepaper, the current blockchain faces the main challenges of the “blockchain trilemma”: security, scalability, and decentralization.

Algorand relies on randomness to solve the blockchain trilemma and uses the pure proof-of-stake (PPoS) algorithm built on a Byzantine agreement. A Byzantine agreement is a protocol for communication that allows the distributed system users to reach a consensus in the presence of malicious actors. PPoS helps achieve greater scalability without compromising the decentralization and security of the network while preventing a potential 51% attack. 

ALGO is the native utility token of the Algorand network. The token is used to secure the consensus used to build each block on the platform and pay for every transaction. The platform aims to use the token to govern the growth of the Algorand ecosystem and as governance rewards for those who commit to voting as part of governing.

Silvio Micali is the founder of the platform and has been an MIT faculty member since 1983 in the Electrical Engineering and Computer Science Department. He is the co-inventor of probabilistic encryption, zero-knowledge proofs, verifiable random functions. Steve Kokinos is the CEO and responsible for the overall business vision and strategy. W. Sean Ford is the COO and responsible for go-to-market execution and operations, including product management, engineering, marketing, and global community development. He also ran the Integration Management Office for LogMeIn's acquisition of Jive Communications in early 2018.

The Algorand Foundation is a not-for-profit organization with a vision of a frictionless, borderless economy built on public, decentralized blockchain technology. The Algorand Foundation has built the Algorand blockchain protocol in partnership with Algorand Inc.

On the Algorand platform, every user receives rewards proportional to their stake for every block committed to the chain. Through this process, Algorand aims to encourage users to join the Algorand platform and accelerate the path to decentralization.

The total max supply of ALGO is 10 billion.

Algorand (ALGO) can be traded at an exchange like Coinbase.

We update our Algorand to USD currency in real-time. Get the live price of Algorand on Coinbase.

The current market cap of Algorand is $1.55B. A high market cap implies that the asset is highly valued by the market.

The all-time high of Algorand is $2.82. This all-time high is highest price paid for Algorand since it was launched.

Over the last 24 hours, the trading volume of Algorand is $65.03M.

Assets that have a similar market cap to Algorand include Cosmos, Celestia, Filecoin, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Algorand is 8.6 billion.

Algorand ranks 14 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

Currently, 99% of Coinbase users are buying Algorand. In other words, 99% of Coinbase customers have increased their net position in Algorand over the past 24 hours through trading.

Yes, Algorand is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Algorand guide.