Education • 3 min read
By Camilla Marziani
Investors have been watching Algorand (ALGO), the blockchain that wants to be decentralised, scalable, secure - and sustainable. But, is Algorand worth buying? Read more to find out about the talents of this protocol and its native coin ALGO.
Founded in 2017 by Turing award winner Silvio Micali, with its native token ALGO, Algorand is a decentralised blockchain protocol of many talents. Now ranking in the top 20 cryptocurrencies by market cap, Algorand (ALGO) is permissionless, “forkless” and open-source, running on what its founder defined as a Pure Proof of Stake consensus mechanism and looks to be the first carbon-negative blockchain protocol.
Aiming to solve the “trilemma” of blockchains, Algorand wants to provide its users with a decentralised, scalable and secure blockchain protocol, all while being environmentally friendly and sustainable.
Joining the club of those altcoins that are offering solutions for bringing decentralised finance and smart contracts to the masses - also see Avalanche (AVAX) and Solana (SOL) - Algorand comes with numerous talents worth mentioning:
As always, talking about DApps and smart contracts easily brings us to the second-biggest cryptocurrency, Ethereum. Like we do with all our tokens in the spotlight, let’s see how Algorand measures up to the crypto giant, given that the ETH 2.0 upgrade bringing the consensus from Proof of Work to Proof of Stake is still in the making.
When it comes to researching how to invest, it’s good to set the bar high. For cryptocurrencies and altcoins, a good place to start is the official website of the asset you’re researching, such as Algorand's official website. There you can delve into the protocol’s projects, use cases, and technical data, and find more to explore.
Also, don’t forget to think about what type of profits you are looking to generate from your assets. When you’re researching a coin, ask yourself how that crypto would fit in your investment portfolio, and whether you’re leaning towards low risk, long-term investments or you’re at ease with faster and (perhaps) profitable, but higher-risk investments.
At Bitpanda, ALGO is just a few clicks away via your smartphone or computer. Bitpanda’s easy-to-use interface makes investing in crypto and other digital assets easy as pie.
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