⛓️Why Algorand?
Algorand is the world's first Pure Proof of Stake (PPoS) blockchain to solve the trilemma of having decentralization, security and scalability
As well as Algorand's multitude of technical advantages, Algorand is a late starter amongst other L1 chains on TVL and number of protocols (#35 on DeFi Llama as of Apr 2022). We want to hold hand at this initial stage of adoption to accelerate and incubate new projects that could be the next game changer on Algorand. We are grateful to have full support from the Algorand Foundation, to take off on our journey with our initiatives.
What makes Algorand different?
Immediate Transaction Finality
Algorand Smart Contracts (ASC1) operate at over 1,000TPS and are final in under 5 seconds which is currently impossible on legacy platforms. Forks - on PoW protocols like Bitcoin - are an unwelcome source of uncertainty and delay. Although Forks are necessary to solve simultaneous requests, or network partitions on a PoW protocol, if a transfer made in the latest block, one cannot immediately consider oneself paid. The Algorand blockchain never forks. Two blocks can never be added to the chain at once because only one block can have the required threshold of committee votes. Accordingly, all transactions are final in Algorand.
Near 0 gas fees
Fees are calculated based on the size of the transaction and a user can choose to augment a fee to help prioritize acceptance into a block when network traffic is high and blocks are consistently full. As mentioned above, two blocks can never ben added to the chain at once hence there is no concept of gas fees on Algorand.
The minimum fee for a transaction is only 1,000 microAlgos or .001 Algos.
Auto generated yield
Algorand's consensus protocol PPOS(pure-proof-of-staking) means that people don't have to stake their ALGO and delegate it to validators. Just by holding their ALGO in wallets, the Algorand's consensus automatically generates yield up to 10% and is given out to wallets with ALGO. There are several wallets in the ecosystem, AlgoSigner most used on PC, and AlgorandWallet most used on mobile. By keeping ALGO in wallets, users are given block validation rewards for each block, and that generates yield for people who hold ALGO in their wallets.
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