Algorand

ALGO is the token associated with Algorand - a self-sustaining, decentralized, blockchain-based network. It addresses the significant challenge known as the Bitcoin trilemma, encompassing the crucial aspects of security, speed, and scalability showcased by decentralized systems. It is a permissionless, open-source blockchain network that allows you to build using Pure Proof of Stake. Proof of Stake is where users are randomly and secretly selected to propose blocks and vote based on their stake. Algorand uses a Pure Proof of Stake(PPoS) wherein any token holder can propose blocks and vote. This design aims to prevent the concentration of power among a few selected validators and relies on the honesty of the majority of the economy to secure its network. The network hopes to usher in an era of a borderless economy.

According to Coinmarketcap, more than 78% of the max supply is in already in circulation as of July 2023.

The transaction fee is not the lowest, which may discourage adoption.

The transaction time also puts away potential adopters owing to the competition.

The token's volatility does not make it a great medium to transfer assets.

ALGO is solving a real-world problem concerning speed, security, and scalability in the DeFi space. They have really strong partnerships to drive web3 adoption.

They have a very active community that is building and developing at an exciting pace.

Users can stake and earn yield.

ALGO uses a Pure Proof of Stake(PPoS) wherein any token holder can propose blocks and vote. This design aims to prevent the concentration of power among a few selected validators and relies on the honesty of the majority of the economy to secure its network