Algorand is a Pure-Proof-of-Stake (PPoS) blockchain network that supports smart contracts. This allows Algorand to develop Decentralized Applications (Dapp), Decentralized Finance (DeFi), and other tokens, which are similar to Ethereum. However, Algorand was created to solve the Blockchain Trilemma.
Blockchain Trilemma means the problem that each blockchain network cannot cover all 3 attributes at the same time, which are Decentralization, Security, and Scalability.
Algorand has the main coin for their network named “ALGO” which is used for doing transactions on the network and for giving rewards to those who engage in their Consensus Algorithm. Furthermore, the speed of doing transactions through Algorand is really fast, which can be done in just four seconds. In addition, users can do many transactions in a day due to inexpensive fees.
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