About

Algorand is a scalable, secure, and decentralized digital currency and smart contract platform. Its protocol uses a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS) to secure the network and reach consensus on block production.

The network is designed to handle approximately 10,000 transactions per second with near-instant finality, supporting features like atomic transfers and asset tokenization. Through its native cryptocurrency ALGO, the platform enables decentralized applications (dApps) across various sectors, including finance, RWA, and institutional services.

As a PoS model, Algorand’s Staking rewards do not put validator or user funds at risk of being slashed (a loss of funds used to promote honest node and user behavior). Algorand’s intention is to provide a platform for developers, entrepreneurs, and enterprise partners that utilize an institutional-grade blockchain platform.

History

Algorand was founded in 2017 by MIT professor and Turing Award recipient Silvio Micali, officially launching its mainnet in June 2019. Micali developed the platform to address what he saw as fundamental limitations in earlier blockchain networks, particularly around scalability and security. Early development focused on academic partnerships and institutional adoption, with the project gradually expanding its focus to include broader blockchain applications.

With a focus on developers and their needs, Algorand's node repository has been open-sourced and is publicly available. Algorand offers a range of technical capabilities focused on scalability and practical application. The network features low transaction fees and instant finality for completed transactions, while maintaining a minimal carbon footprint in its operations. Developers can build decentralized applications (dApps) using familiar programming languages, including Python, which Algorand supports natively. Its infrastructure enables various use cases, including payment systems, digital identity solutions, supply-chain tracking, and financial services. The protocol's architecture allows for tokenization of assets and the development of smart contracts, while its technical specifications support both retail users seeking basic transaction capabilities and enterprises requiring more complex blockchain solutions.

In late 2021, 21Shares established their Algorand ETP (ALGO), while in 2022, VanEck established the VanEck Algorand ETN focusing on providing exposure to ALGO to their institutional clients.

In January 2025, the v4 upgrade has been successfully activated, bringing staking rewards to Algorand.

In September 2025, Algorand Foundation named former Ripple engineering lead Nikolaos Bougalis as CTO.

In July 2025 Algorand’s on-chain governance reached a major milestone with the establishment of a dedicated xGov Council and deployment of the xGov Platform to mainnet. Furthermore, Algorand achieved native multichain support with Wormhole NTT, enabling seamless cross-chain asset transfers.

In August 2025, XBTO announced a strategic partnership with Algorand. XBTO was appointed Algorand’s Tier-1 market maker to bolster ALGO liquidity, including USDC transfer support for efficient treasury and institutional adoption.

In October 2025, Algorand and World Chess renewed their strategic partnership for on-chain sports loyalty and identity. In parallel, Algorand also introduced Algorand Specifications, which allows protocol engineers, researchers, and cryptographers a complete view of how Algorand works.