What is Algorand (Algo)?

Its Pure Proof of Stake consensus mechanism provides a unique solution with VRFs, and many find this blockchain technology attractive for its success in decentralizing power. Algorand (ALGO) is a Pure Proof of Stake blockchain focused on scalability and decentralization. It has its own blockchain, cryptocurrency, and smart contracts.

How many Algorand coins are there?

The total supply of ALGO is capped at 10 billion coins, with about 7 billion ALGO already circulating. Algorand (ALGO) is a blockchain platform and cryptocurrency designed to function like a major payment processor. The Algorand blockchain uses a consensus mechanism it calls pure proof of stake.

Could Algorand become a blockchain?

With its versatility, Algorand could turn into an interesting blockchain serving different sectors. Algorand has transparent and informative documentation: its tokenomics are explained on its governance page. The total supply of ALGO is 10 billion and will be emitted until 2030. The current circulating supply is 6.71 billion ALGO.

How much APY does Algorand have?

Staking your ALGO on the official Algorand Wallet gives you around 6% APY. ALGO rewards are directly transferred to the wallet and will automatically accumulate and compound as time passes. With as little as 10 ALGO, centralized exchanges such as Binance and Coinbase provide additional options for users to stake their ALGO tokens.