Review on Algorand by Orlymar Córdova
Algorand: Towards the establishment of an equitable economy without borders.
In recent decades the world economy has undergone profound changes. Today, companies or organizations cannot continue to operate with the same traditional economic schemes or model, but rather, to be successful, they must adapt to the new context, redefining strategies and resources that allow them to take even more advantage of the opportunities offered by the changing and competitive environment of markets.
Algorand is an innovative project that makes use of blockchain technology with the intention of revolutionizing financial systems worldwide and promoting the establishment of an equitable economy without borders. It was created with the mission of solving the decentralization, security and scalability problems that blockchains are commonly subjected to. For this, its founder Silvio Micali thought of Algorand as an open source platform, public and without permits, where everyone can participate actively through the execution of projects and decentralized applications.
The Algorand foundation, makes available to all users a program with different resources and tools (tutorials, guides, documents, online forums, among others) that contain detailed explanations about the main functions of the platform, its compatibility with the SDK in Java , JavaScript, Python, and Go; all in order to make it easier for developers to build or run their projects and dapps on the platform.
Algorand has its own ALGO token, launched at the end of June 2019 at the same time as its main network, which, thanks to the implementation of the Pure PoS consensus algorithm, allows to link security with the honesty of the majority, guaranteeing that The platform works perfectly, and Algorand's Pure PoS algorithm allows greater security, speed and low cost in transactions.
This project has a prestigious economic advisory committee and many influential business partners. It is hoped that in the not too distant future Algorand could surpass Ethereum by becoming a leading platform in the Defi environment.
Pros
- The ALGO token can be transferred to one or more people, instantly and simultaneously (approximately 4.5 seconds).
- The one-way hash function ensures that the blockchain is tamper resistant.
- Its governance system allows ALGO holders to propose changes to the protocols and other applications of the platform.
- The ALGO cryptocurrency can be traded or saved on many exchanges and wallets.
- The diversity of functions offered by the platform, all directly integrated into Layer-1, allows you to create distributed applications on an enterprise scale in a secure way while maintaining optimal performance.
- You do not require large computer equipment or mining farms.
Cons
- I have nothing negative to comment on this platform.
