Review on Algorand by Özgün A
ALGO introduces PPoS algorithm into the crypto world
Algorand's name comes from the abbreviation "algorithmic randomness".
Algorand is a scalable and secure crypto exchange project. They say that this project was created by a team of researchers, mathematicians and economists who are renowned in their fields. This proves how solid this project is based on. So the project is an extremely reliable project.
World-renowned companies support this project.
The most important features; scalability and security.
There is no risk of data spoofing or loss by third parties. Control power is fairly distributed among users. You can have a say in decisions.
There is no approval process in this project like in other projects. There are no gatekeepers. The control is entirely on those who operate on the network. All transactions in the system are finalized. So transparency is at the forefront. Processor power is not wasted because the processes are precise.
Let's get to the most important and surprising part ..
In this system, users are randomly selected, but the interesting thing is that the number of users selected is not directly proportional to the total number of network users. In other words, even if the number of selected users increases, the total number of users on the network remains constant.
Pros
- Safe, as selected users are randomly selected by the algorithm
- Transactions are final, no transaction disruptions
- Founding team is very reliable and well-known
Cons
- Transaction volume is not at the desired level
