Algorand’s unique power source is rapid and efficient user consensus, enabling even the smallest transactions, regardless of transaction volume or number of users.
For each block of transactions, Algorand randomly selects a small, one-time group of users in a safe and fair way. To protect them from attackers, the identities of these users are hidden until the block is confirmed. The size of this group remains constant as the network grows.
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ICO advisor - Blockchain investor Rated on Aug 2, 2018
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Algorand is a new cryptocurrency utilizing a “Byzantine Agreement on Steroids” consensus protocol that proposes a solution for blockchain scalability, long transaction confirmation times, and the high energy consumption with Proof-of-Work (PoW) blockchains.
Thanks to their new consensus, they promise to achieve 125x the transaction throughput of Bitcoin. A test prototype is already live.
Team is impressive, especially with the presence of Silvio Micali as Founder, who is an awarded academic profile, pioneer of cryptography and consensus mechanisms. Silvio is the recipient of the Turing Award (in computer science), of the Goedel Prize (in theoretical computer science) and the RSA prize (in cryptography).
The only issue with this project are the token metrics that seem to higher than average. Nonetheless, given the potential of technology behind Algorand, this is not a major problem.
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