Algorand (ALGO): how it works, supply and reviews
In short
- Type
- Public layer-1 blockchain with smart contracts and native tokens (Algorand Standard Assets)
- Maximum supply
- 10 billion ALGO, all already minted
- Risks and caveats
- The Algorand Foundation holds part of the supply in its treasury; circulating supply rises as these tokens are released.
- Checked
- 28 October 2026
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Key facts
- Ticker
- ALGO
- Network
- own blockchain
- Official site
- algorand.co
- Source code
- github.com/algorand
Data: CoinGecko (trading activity) and CoinPaprika (links), 2026-10-27. Only projects that still trade with meaningful volume are listed.
What is Algorand
Algorand is a layer-1 blockchain that uses a Pure Proof-of-Stake consensus mechanism and runs smart contracts on the Algorand Virtual Machine. Its native token, Algo (ALGO), pays transaction fees and is staked by participating accounts to secure the network.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Public layer-1 blockchain with smart contracts and native tokens (Algorand Standard Assets) |
| Consensus | Pure Proof-of-Stake: a block proposer and a validator committee are randomly selected for each block, weighted by stake |
| Launched | 2019 |
| Block time | A new proposer and committee are elected for each block in under 3 seconds |
| Smart contracts | Yes, executed by the Algorand Virtual Machine (AVM) on every node |
| Programming language | Algorand Python and Algorand TypeScript, compiled for the AVM |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 10 billion ALGO, all already minted |
| Issuance | Circulating supply grows as Algo held by the Algorand Foundation enters circulation |
| Staking rewards | Block proposers with at least 30,000 ALGO staked receive 50% of transaction fees plus a Foundation-funded bonus that decays over time |
What ALGO is used for
- Paying transaction fees.
- Staking in consensus through participation nodes to secure the network.
- Payments and peer-to-peer transfers.
- Taking part in Algorand governance as an Algorand Governor.
Who develops and governs Algorand
- Founders
- Silvio Micali, Turing Award-winning cryptographer and MIT professor, with a small team (2017)
- Developer
- Algorand Technologies develops the layer-1 protocol
- Foundation
- Algorand Foundation US, Inc., a Delaware corporation operating independently of Algorand Technologies
- Headquarters
- The Algorand Foundation announced its return to the United States on 14 January 2026
- Open source
- Yes; node software and developer tools are public on GitHub
History
| Date | Event |
|---|---|
| 2017 | Silvio Micali and a team of cryptographers began work on Algorand in Cambridge, Massachusetts. |
| 2019 | Algorand mainnet launched with Pure Proof-of-Stake consensus. |
| 14 January 2026 | The Algorand Foundation announced its return to the United States and a new board of directors. |
Security and audits
- The protocol avoids forks and double-spending as long as more than two-thirds of the stake is held by honest participants.
- The Algorand Foundation publishes quarterly transparency reports reconciling its Algo holdings.
Risks and caveats
- The Algorand Foundation holds part of the supply in its treasury; circulating supply rises as these tokens are released.
- Part of current staking rewards is a Foundation-funded bonus committed for about 24 months.
- Staking rewards require at least 30,000 ALGO in a participating account.
Official links
- Website: algorand.co
- Docs: dev.algorand.co
- Source code: github.com/algorand
- Transparency reports: algorand.co/algorand-foundation/transparency
Questions and answers
What is Algorand?
Algorand is a layer-1 blockchain using Pure Proof-of-Stake consensus. Its native token is Algo (ALGO).
Who created Algorand?
Algorand was conceived in 2017 by a team around Silvio Micali, a Turing Award-winning MIT cryptographer, and launched in 2019.
What is the maximum supply of ALGO?
The supply is capped at 10 billion ALGO, all of which has been minted. Part is still held by the Algorand Foundation.
How does Algorand reach consensus?
For every block, a proposer and a validator committee are randomly selected in proportion to stake, in under 3 seconds.
Sources
- CoinGecko — Algorand
- CoinPaprika — Algorand
- Algorand — The Algo
- Algorand — Pure Proof-of-Stake
- Algorand — Inside the core technology
- Algorand — Founding story
- Algorand — FAQs
- Algorand — Staking rewards
- Algorand Foundation — Return to the United States
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