![]() ![]() It proposes three main goals that developers should strive to meet when building a blockchain network. The Blockchain Trilemma was a term first coined by Vitalik Buterin. Python is one of the most popular and well known coding languages used for many projects outside of the blockchain, which opens the door for global developer adoption and collaboration. ![]() Part of Algorand’s success regarding rapidly increasing developer activity is due to developers being able to build on the network using the Python coding language. The Algorand Foundation are Committed to Sustainability Image viaĪlgorand reached the status of not only being carbon neutral but took it to the next level and became carbon-negative in 2021, which is a truly impressive feat. Developers concerned about the impact of blockchain technology on the planet are likely to be drawn to projects like Algorand for their responsible approach to sustainability. ![]() The team places a firm emphasis on being “green” and is one of the most eco-friendly Blockchain networks. It isn’t just the advanced technology behind Algorand that contributes to its popularity and adoption. While a relatively new network, Algorand already has a budding DeFi, NFT, and Web3 ecosystem and is showing impressive growth. Image via Īlgorand launched in 2019 and is capable of supporting some of the most advanced smart-contract functionality in crypto. As Algorand has many benefits over Ethereum, many Algo enthusiasts feel that the future of finance will be built on Algorand. Algorand has already seen adoption from millions of users worldwide. The Algorand network is highly secure, scalable, lightning-fast and cost-efficient, as all good protocols should be. Other layer one smart contract networks include Ethereum, Cardano, Eos, Tezos, Solana etc. The project aims to create a borderless economy through its decentralized, permissionless public ledger. In this Algorand review, I will give you everything you need to know about the project, some exciting protocols building on it, and cover the team and the tokenomics.ĭisclaimer: I hold the ALGO token as part of my personal portfolio.Īlgorand is a layer one decentralized blockchain-based network that supports smart contracts and multiple applications. The team behind Algorand has set out to do something that has not been possible with blockchain technology to date: to create an infinitely scalable network and solve the blockchain trilemma once and for all. As a result, it has attracted a lot of attention, backed by VC capital and a team of PhDs and professors. The Algorand network has been touted as one of the most advanced blockchain networks ever created. There has been intense interest in this project not only from the crypto community but also from governments, institutions, and academic circles. Algorand is a project that has rocketed onto the scene and firmly cemented itself into the top 100 shortly after its highly anticipated launch. ![]()
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