Algorand is a Pure-Proof-of-Stake (PPoS) blockchain network that supports smart contracts. This allows Algorand to develop Decentralized Application (Dapp), Decentralized Finance (DeFi), and other tokens which are similar to Ethereum. However, Algorand was created with the aim of solving the Blockchain Trilemma
Blockchain Trilemma means the problem that each blockchain network cannot cover all three 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 used 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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