Algorand
ALGO is the native token of Algorand, a blockchain platform known for its speed, scalability, and energy efficiency, supporting a range of applications.
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- Algorand
- Asset Type: algo
ALGO is a mid-cap asset that represents the blockchain's native currency or monetary fee used to execute transactions on the network.
Algorand has no dependencies.
ALGO has a fixed supply. ALGO is the native token of Algorand, powering its proof-of-stake network and transactions.
What is ALGO?
ALGO is the native cryptocurrency of Algorand, a blockchain platform founded in 2019 by computer scientist Silvio Micali. Algorand is designed to solve the blockchain trilemma of scalability, security, and decentralization, offering near-instant transaction finality with minimal fees. ALGO is used to power network operations, participate in governance, and incentivize participation through staking rewards.
How does ALGO work?
ALGO operates on the Algorand blockchain, which uses a pure proof-of-stake (PPoS) consensus mechanism. This mechanism allows ALGO holders to participate in network validation and governance without requiring specialized hardware. The network supports smart contracts and token issuance, making it suitable for a variety of applications, including DeFi, NFTs, and enterprise solutions. Algorand’s unique design enables high throughput and security while remaining energy-efficient, aligning with its goal of providing a sustainable blockchain infrastructure.
How many ALGO tokens are in circulation?
ALGO has a maximum supply of 10 billion tokens, with approximately 7.8 billion currently in circulation. Tokens are distributed through block rewards, ecosystem development incentives, and governance rewards for participants. While this gradual release supports network growth, it also introduces potential supply-side pressure, which could impact ALGO’s price if demand does not keep pace with issuance.