Algorand

Algorand is a layer-one blockchain that uses a consensus method called Pure Proof-of-Stake. The network's design aims to deliver security, scalability and decentralization together; it is used in areas such as payments, asset tokenization and public-sector projects. ALGO is the native crypto asset of the Algorand network.

For each block, the participants who will propose and vote on it are selected secretly from online accounts through a verifiable random lottery, in proportion to the amount of ALGO they hold. This approach prevents forks on the network, and transactions become final as soon as they are included in a block. ALGO is used to pay transaction fees, to meet account balance requirements and for rewards to nodes that take part in consensus. Native tokens called Algorand Standard Assets can be created on the network, and smart contracts run on the Algorand Virtual Machine.

The ALGO price can vary with transaction and application activity on the network, institutional use in tokenization and payments, supply dynamics from consensus rewards and competition with rival blockchains. On Lzzo.com, the Algorand price is based on the ALGO/USDT pair on Binance; the value is converted into dollars at the Coinbase Exchange rate, and the chart shows this series.