Review on Algorand by Digital Convict
Fast & Frictionless Finances. The Algos movie.
A.k.a. ALGO. is a DeFi project initially designed by Silvio Micali and a team of leading scientists with the vision of Algo Foundation, The Frictionless Finance.
The protocol it´s builded in four parts:
Past september 2020,was addes to BSN open permissioned initiative on China and Ledger to self custody.
The Rekeying of Algo is something significative in the finances and DeFis. It brings a long term public key with the posibility to change the account key to an other key. Giving a posibility to heredate cryptoactives.
The central propose is expands the range of Process, DApps and DeFis on their Layer 1. Accesing to global digital markets with 24x7 transferability with the Asset tokenization, bringing control for issuers and regulatory requirements. This Tokens could be FT, NFT and RFT, RNFT.
Blockchains Smart contracts are operated on the Layer 2. Algo operates on Layer 1, this gives a unique functionality to them, based on Scale, Speed an security. This makes the diference between the other coins.
Listed on at least 50 exchanges, where ZG acurates the major capitalization, algo is now ranked in place 54.
If users or hodlers are interested on stake some Algos, their have the first wallet on the Chrome store, is called AlgoSign.
Let's see if its capable to increase their market cap fastly as their L1.
Pros
- Autonomy
- Speed
Cons
- Well built, nothing bad to say.
