Review on Algorand by Naomi Ilani
Algorand, A Platform That Aims Really High
Algorand is a decentralized Blockchain platform that is aimed at creating a borderless economy through decentralization, it wants to see a Blockchain system that grants everyone without discrimination, permission for participation and
The platform started, with three uncommon and uneasy to get to goals which are:
1. Providing a fast
2. Providing a scalable
3. Still remaining decentralized
And it aims at getting all these together, it seems hard but is gradually in the process of getting there. Talking about the speed, Algorand has the capacity of processing about a thousand orders per second which I consider very fast. Then moving to its security, the Algorand makes use of the Proof of Work, PoW algorithm to protect user's from scammers. The platform has gradually succeeded in building a trusted infrastructure for the borderless
Pros
- Decentralized
- Scalable
- Fast in transaction process
- Makes use of the PoW algorithm for security purposes
Cons
- None so far
