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.
€100k worth of daily prizes are waiting for you, from Dec. 1Read more
Bitpanda GmbH ve grup şirketleri (Bitpanda) Türk Parasının Kıymetini’nin Korunması Hakkında 32 sayılı Karar’ın 2/b maddesine göre Türkiye’de yerleşik sayılan hiçbir kişiye yönelik olarak 6362 sayılı Sermaye Piyasası Kanunu başta olmak üzere Türkiye Cumhuriyeti Devleti mevzuatı hükümleri gereği Türkiye’de faaliyet izni gerektiren hiçbir sermaye piyasası faaliyetine dair hizmet sunmamaktadır. Şayet Bitpanda’nın yabancı sermaye piyasalarında vermiş olduğu hizmetlerden Türkiye’de yerleşik kişilerin faydalandığı tespit edilecek olursa tüm zararları kullanıcıya ait olmak üzere bu hizmetler ivedilikle sona erdirilecektir.
As the name would suggest, some cookies on our website are essential. They are necessary to remember your settings when using Bitpanda, (such as privacy or language settings), to protect the platform from attacks, or simply to stay logged in after you originally log in. You have the option to refuse, block or delete them, but this will significantly affect your experience using the website and not all our services will be available to you.
We use such cookies and similar technologies to collect information as users browse our website to help us better understand how it is used and then improve our services accordingly. It also helps us measure the overall performance of our website. We receive the date that this generates on an aggregated and anonymous basis. Blocking these cookies and tools does not affect the way our services work, but it does make it much harder for us to improve your experience.
These cookies are used to provide you with adverts relevant to Bitpanda. The tools for this are usually provided by third parties. With the help of these cookies and such third parties, we can ensure for example, that you don’t see the same ad more than once and that the advertisements are tailored to your interests. We can also use these technologies to measure the success of our marketing campaigns. Blocking these cookies and similar technologies does not generally affect the way our services work. Please note, however, that while you’ll still see advertisements about Bitpanda on websites, the adverts will no longer be personalised for you.