Review on Algorand by Saparov Meylis

Hello my dear friends.

The developers of the project claim that they are the first who were able to implement true PoS. It also announced an unprecedented level of scalability, decentralization and security of the blockchain.

The project is being carried out by the limited liability company Algorand Foundation. Registration is done in Singapore. Algorand identified the key goal as creating a blockchain that brings real benefits to the economy. According to the team, this will increase the efficiency of existing financial institutions and open up new markets that cannot exist without a decentralized, unlimitedly scalable tool.

The main work on the project has already been completed. More than $ 60 million of investment has been attracted, taking into account the cost of the ALGO token and the issue of tokens, the project may enter the TOP-3 in terms of capitalization in the coming years.

PoS is usually implemented using one of 2 methods:

* DPoS - the community chooses the validators, and the "weight"

votes are tied to the wallet balance. Then the chosen ones

nodes are involved in confirming transactions and

actually control the network;

* BPoS (Bonded Proof of Stake) - a certain deposit

frozen for a while, in case of violations from the outside

validator, he may be fined.



Both approaches to implementing PoS are not without drawbacks. The main one is the high requirements for potential validators; most of the network participants cannot apply for this role. The maximum is to vote for this or that node. PPoF (Pure Proof of Stake) solves this problem.

In PPoF, any participant with an ALGO account can be selected as a validator. The number of crypts on the account only affects the likelihood that it will be chosen. At any time, you can withdraw from the number of applicants, no insurance deposits or guarantee fees are needed.

This improves safety. A potential attacker cannot even approximately guess who will become a validator, while it is impossible to hack all network participants.

Algorand looks like a solid project primarily because of the team working on it and the good idea. Successfully completed private token sales only add to this impression. We also note the detailed technical component - it is clear, due to which the developers are going to gain a foothold in the market. For this, the project is even forgiven for the lack of a clear roadmap.



As for the course, the listing took place in June 2019. At the time of preparing the review, the price of the crypt dropped below $ 2 per 1 ALGO token - a standard situation when, after the start, some of the holders drain the cryptocurrency.