Algorand (ALGO) is a blockchain platform and cryptocurrency designed to function like a major payments processor.
Algorand aims to solve the three main problems faced by blockchains today, also known as the blockchain trilemma: security, scalability, and decentralization.
In Algorand’s consensus algorithm, called Pure PoS, the network ties its security to the honesty of the majority.
In Algorand, blocks are constructed into 2 phases through lotteries known as “cryptographic sortition” enabling fast finality; long gone would be the days where one would have to wait for 30+ confirmations and eventually several hours to ensure that a transaction really happened.
Proposal phase: a single token is randomly selected, and its owner proposes the next blocks. However, this proposer is only known to the whole network during the propagation phase: it is already too late to interfere. In Pure PoS, every token has the same power in being selected.
Voting round: a committee of owners of 1,000 random tokens is selected, approving the block proposed by the first user. As opposed to the fixed committee system in many Proof-of-Work or Proof-of-Stake blockchains, this random selection of the committee members makes the protocol extremely secure against adversary attacks: they simply don’t know who to target.
Algorand Performance Facts
Algorand clearly has been on an upward spike in terms of growth, and with consistency, it can go on to become one of the greatest Blockchain Protocols to have ever existed. With the availability of a wide choice of technologies and programming languages, the community support, learning resources, and much more!
4.33 - BLOCK TIME
15 - CURRENT ACTIVITY (TPS)
23,919,767 - ADDRESSES
$0.0009 - TRANSACTION FEE
Find the heart of the problem
Go for the biggest impact
Dare to fail
Be a positive force
Open your mind
Share your ideas
Act with integrity
Keep your promises
Why does Growth matter and how can Algorand combat decline in growth?
The evidence and literature on company growth and company decline is spread across many disciplines. Coad’s (2009) book on The Growth of Firms: A Survey of Theories and Empirical Evidence4 cites over 450 articles and books that are drawn from many areas. It is instructive that Coad chose to recognize only “growth” and not “growth and decline” in the title of his book. Moreover, Coad’s index has 45 separate line items for “growth” but zero line items for “decline” or “destruction.” This section overviews some diverse literatures where destruction is recognized to varying degrees—entrepreneurship, economics, strategy/management, sociology, and accounting/finance.
Several patterns are apparent in the below overview of the literature. First, whilst there is recognition of destruction relating to early-stage companies, there is limited research that gives destruction a central or even major part of the analysis. Second, the available evidence predominantly relates to job destruction with very little analysis of revenue destruction.5 Contributions here from labor economists have been the most pertinent. Third, almost all studies adopt a single country focus.6 There has been very little attempt to apply a common methodology across multiple countries to gain a richer insight into the destruction phenomenon.
Key Resources & Readings:
Algorand | The Blockchain for FutureFi | Algorand
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