[Crypto projects](https://revain.org/projects/) › Algorand

# Algorand (ALGO): how it works, supply and reviews

## In short

- **Type**: Public layer-1 blockchain with smart contracts and native tokens (Algorand Standard Assets)
- **Maximum supply**: 10 billion ALGO, all already minted
- **Risks and caveats**: The Algorand Foundation holds part of the supply in its treasury; circulating supply rises as these tokens are released.
- **Checked**: 28 October 2026

## Key facts

- **Ticker**: ALGO
- **Network**: own blockchain
- **Official site**: [algorand.co](https://algorand.co/)
- **Source code**: [github.com/algorand](https://github.com/algorand)

Data: CoinGecko (trading activity) and CoinPaprika (links), 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is Algorand

Algorand is a layer-1 blockchain that uses a Pure Proof-of-Stake consensus mechanism and runs smart contracts on the Algorand Virtual Machine. Its native token, Algo (ALGO), pays transaction fees and is staked by participating accounts to secure the network.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Public layer-1 blockchain with smart contracts and native tokens (Algorand Standard Assets) |
| Consensus | Pure Proof-of-Stake: a block proposer and a validator committee are randomly selected for each block, weighted by stake |
| Launched | 2019 |
| Block time | A new proposer and committee are elected for each block in under 3 seconds |
| Smart contracts | Yes, executed by the Algorand Virtual Machine (AVM) on every node |
| Programming language | Algorand Python and Algorand TypeScript, compiled for the AVM |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | 10 billion ALGO, all already minted |
| Issuance | Circulating supply grows as Algo held by the Algorand Foundation enters circulation |
| Staking rewards | Block proposers with at least 30,000 ALGO staked receive 50% of transaction fees plus a Foundation-funded bonus that decays over time |

## What ALGO is used for

- Paying transaction fees.
- Staking in consensus through participation nodes to secure the network.
- Payments and peer-to-peer transfers.
- Taking part in Algorand governance as an Algorand Governor.

## Who develops and governs Algorand

- **Founders**: Silvio Micali, Turing Award-winning cryptographer and MIT professor, with a small team (2017)
- **Developer**: Algorand Technologies develops the layer-1 protocol
- **Foundation**: Algorand Foundation US, Inc., a Delaware corporation operating independently of Algorand Technologies
- **Headquarters**: The Algorand Foundation announced its return to the United States on 14 January 2026
- **Open source**: Yes; node software and developer tools are public on GitHub

## History

| Date | Event |
|---|---|
| 2017 | Silvio Micali and a team of cryptographers began work on Algorand in Cambridge, Massachusetts. |
| 2019 | Algorand mainnet launched with Pure Proof-of-Stake consensus. |
| 14 January 2026 | The Algorand Foundation announced its return to the United States and a new board of directors. |

## Security and audits

- The protocol avoids forks and double-spending as long as more than two-thirds of the stake is held by honest participants.
- The Algorand Foundation publishes quarterly transparency reports reconciling its Algo holdings.

## Risks and caveats

- The Algorand Foundation holds part of the supply in its treasury; circulating supply rises as these tokens are released.
- Part of current staking rewards is a Foundation-funded bonus committed for about 24 months.
- Staking rewards require at least 30,000 ALGO in a participating account.

## Official links

- Website: [algorand.co](https://algorand.co/)
- Docs: [dev.algorand.co](https://dev.algorand.co/)
- Source code: [github.com/algorand](https://github.com/algorand)
- Transparency reports: [algorand.co/algorand-foundation/transparency](https://algorand.co/algorand-foundation/transparency)

## Questions and answers

**What is Algorand?**

Algorand is a layer-1 blockchain using Pure Proof-of-Stake consensus. Its native token is Algo (ALGO).

**Who created Algorand?**

Algorand was conceived in 2017 by a team around Silvio Micali, a Turing Award-winning MIT cryptographer, and launched in 2019.

**What is the maximum supply of ALGO?**

The supply is capped at 10 billion ALGO, all of which has been minted. Part is still held by the Algorand Foundation.

**How does Algorand reach consensus?**

For every block, a proposer and a validator committee are randomly selected in proportion to stake, in under 3 seconds.

## Sources

- [CoinGecko — Algorand](https://www.coingecko.com/en/coins/algorand)
- [CoinPaprika — Algorand](https://coinpaprika.com/coin/algo-algorand/)
- [Algorand — The Algo](https://algorand.co/technology/the-algo)
- [Algorand — Pure Proof-of-Stake](https://algorand.co/technology/pure-proof-of-stake)
- [Algorand — Inside the core technology](https://algorand.co/technology/core-tech)
- [Algorand — Founding story](https://algorand.co/founding-story)
- [Algorand — FAQs](https://algorand.co/faqs)
- [Algorand — Staking rewards](https://algorand.co/staking-rewards)
- [Algorand Foundation — Return to the United States](https://algorand.co/blog/algorand-announces-return-to-the-united-states-and-a-new-board-of-directors)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/algorand/