What exactly is Algorand? (ALGO)?

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ALGO is the Algorand protocol's native currency. Algorand is an ecosystem built on a Byzantine agreement proof-of-stake consensus protocol that aims to be a more efficient and secure distributed ledger by eliminating miners and requiring a negligible amount of computation, making forking extremely unlikely.

Core Features of Algorand

Algorand takes pride in its innovation, including the use of a permissionless and pure proof-of-stake consensus protocol that provides instant transaction finality.

Consensus protocol in three steps. Algorand selects users to propose blocks for a given round using cryptographic sortition. When a block is proposed to the blockchain, a committee of voters is formed to vote on it. The block can be certified if a super majority of the votes are cast by honest participants.

Resilience of partitions An adversary cannot persuade two truthful users to accept two different blocks for the same round. Every transaction on the blockchain is always final. Algorand can recover after a partition is resolved, ensuring that new blocks are generated at the same rate as before the partition.