Algorand

Halal Rating :
Comfortable
Last Price $0.28 Last updated:
Rank 43
1D Change 4.02 %
Market Cap $2.35b
Circulating supply 8,424,667,266
Maximum supply 10,000,000,000

Crypto Overview

Categories
  • PoS
  • Platform
  • Research
  • Smart Contracts
  • Algorand Ecosystem
  • Arrington XRP Capital Portfolio
  • Kenetic Capital Portfolio
  • USV Portfolio
  • Multicoin Capital Portfolio
  • Exnetwork Capital Portfolio
  • Layer 1
  • DWF Labs Portfolio
  • Alleged SEC Securities

Purpose and Utility

Algorand is a proof-of-stake blockchain platform designed to achieve scalability, security, and decentralization without compromising any of these features. The ALGO token serves multiple purposes: as the native currency for transaction fees, as a governance token allowing holders to participate in protocol decisions, and as the platform's primary medium of exchange.

Business Model and Real-World Adoption

The platform focuses on providing infrastructure for financial services and decentralized applications. Notable partnerships include FIFA, the Italian government for blockchain infrastructure, and various financial institutions. The platform supports smart contracts and hosts numerous DeFi applications, NFT marketplaces, and payment solutions.

Development Activity

Algorand maintains active development with regular protocol updates and improvements. The Algorand Foundation provides grants to developers and projects building on the platform. The ecosystem includes numerous active projects spanning DeFi, gaming, and infrastructure.

Token Distribution

The initial token distribution allocated tokens to early backers, the Algorand Foundation, and Algorand Inc. The foundation maintains transparency regarding token releases and utilization through regular reports. Vesting schedules for early backers and team members are publicly documented.

Technology and Revenue Model

Transaction fees are minimal and are burned rather than distributed as interest. The pure proof-of-stake consensus mechanism rewards participants for securing the network without involving interest-bearing mechanisms. Smart contracts enable various halal business applications.

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