Where Algorand is Accepted Locally and Globally
ALGO is the token powering the Algorand smart contract network, which can handle over a thousand transactions per second. This makes ALGO a viable commerce coin. It’s accepted by businesses around the world, from Italy’s oldest coffee brand to Brazilian software developers.
Who Accepts ALGO…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy ALGO?
The use cases of smart contract tokens are myriad; NFTs, database management, corporate auditing, and accounting along with statist management of national economies (which we’ll discuss a little later). Apparently, it’s carbon neutral and thus green-friendly. Algorand, founded by renowned MIT computer science professor Silvio Micali, has proper “adult management.” The team behind it is visible and impressive. Impressively, it’s become a top 50 crypto in a relatively short time since its launch in 2019. ALGO holders have their tokens automatically staked and earn rewards (about 7.5% APY) so it presents a passive income opportunity.
Before buying a smart contract coin like ALGO, please take some time to educate yourself about the DEFI space — investing in what you don’t understand is a recipe for failure. While it has a hard cap, it is by design an inflationary crypto, which somewhat explains why its price is not higher. But the explosion of the smart contract ecosystem and the automatic staking rewards should more than make up for this.
About
Algorand is another one of the “Great Reset” blockchain projects, it could be used to underlie Central Bank Digital Currencies (CBDCs) and it’s used in carbon credit trading. Apparently, it is used in Colombia to keep track of who has received the COVID vaccine, so they don’t align with the libertarian values that most crypto purists share.
A public ledger is a tamperproof sequence of data that can be read and augmented by everyone. Public ledgers have innumerable and compelling uses. They can secure, in plain sight, all kinds of transactions — such as titles, sales, and payments — in the exact order in which they occur. Public ledgers not only curb corruption, but also enable very sophisticated applications — such as cryptocurrencies and smart contracts. They stand to revolutionize the way a democratic society operates. As currently implemented, however, they scale poorly and cannot achieve their potential. Algorand is a truly democratic and efficient way to implement a public ledger. Unlike prior implementations based on proof of work, it requires a negligible amount of computation, and generates a transaction history that will not “fork” with overwhelmingly high probability.
From the abstract of the Algorand whitepaper
The First Pure Proof of Stake Blockchain Platform
Led by Turing award-winner Silvio Micali and a renowned team of cryptographers, engineers, and mathematicians that solved the blockchain trilemma, Algorand is committed to the ongoing development of best-in-class solutions for the future of economic exchange.
From algorand.com
