algorand - algo -

Algorand (ALGO): Why does it matter?

Algorand, a publically accepted blockchain, aims to offer users decentralization as well as security. This digital asset is free, open, transparent, public, scalable, and secure. Its basic principles include accessibility, ease of use, quick process, direct use and efficiency.

Algorand’s trading volume competes with some of the well-known financial and payment systems in the market today. Founded by renowned Italian computer scientist and professor Silvio Micali, the platform can handle nearly 1 million transactions per day. Moreover, it processes transactions relatively faster and at a lower cost.

Since it is based on a pure blockchain protocol without permissions, it is a high energy and environmentally friendly token unlike Bitcoin.

Factors that make Algorand

Aside from the ever-increasing prices, there are several other reasons why Algorand will skyrocket in the coming decades.

Arrington Capital Launches $100 Million Algorand Ecosystem Fund

Arrington Capital, a well-known digital asset management firm in the blockchain capital market, announced the launch a $100,000,000 fund to bet on projects built on Algorand’s blockchain. The fund will pay off investments that include non-fungible tokens and partnerships with Maimi to utilize Algorand in municipal project.

All these efforts ultimately aim to stimulate the Algorand ecosystem’s development. The funding will allow the project to expand its network functions, thereby accelerating its adoption and drastically increasing its cost.

Yieldly – The World’s First DeFi Products on Algorand

The Algorand network solves the blockchain trilemma and is highly scalable, but it does not have a strong DeFi ecosystem. Algorand was eager to gain a competitive advantage in the lucrative Decentralized Finance (DeFi) market. Yieldy is its first native DeFi app.

Yieldy, which was launched in June for ALGO holders, created a win-win lottery and amassed more than $11 million in total locked value (TVL). On June 18, Yieldly Bridges was launched by him. This linkage connects the Algorand ecosystem to major platforms like Ethereum, Polkadot and Binance Smart Chain. It accelerates its adoption. The bridge is notable for three key features.

He was the first person to connect Algorand Standard Asset with ERC-20. The bridge gives access to more than 600,000 active Ethereum users. This allows cross-chain bidding of ASA, ERC-20 and BEP-2.

Blockstack & Joint Venture Algorand – Clarity Smart Contract Language

Blockstack is a popular alternative to Google with Brave Browser, Algorand and Google. Recently, the two companies announced a new open-source project. This joint venture will release a smart contract language that’s more secure, reliable and user-friendly.

It is designed specifically to serve developers working on high-stakes transactions. Therefore, it must be more reliable. This will also mark the first time two of the most prominent cryptocurrency projects have released a smart contract language.

Expert Predictions

It is difficult to predict the price of digital assets accurately, as they are highly volatile. Some crypto experts are optimistic about the future of the ALGO token. DigitalCoinPrice experts predict that ALGO will be worth $ 1.92 by 2021.

The wallet investor believes that ALGO is a solid long term rate and has a very bullish outlook of $2.302 by 2021. They also expect the price will reach $6.4 by 2025.

Investing in Algorand

Algorand, which has a market cap close to $ 2 billion as of this writing, is one of today’s most active digital assets. Algorand, with its unique consensus protocol to solve the blockchain trilemma is positioning itself as an alternative to EOS and Ethereum in the DeFi space.

This is why over 500 organizations worldwide are using this technology today. Coinbase transferred its USDC to ALGO. ALGO token is a great investment option due to the support it receives from international organizations and a dedicated development team. It currently trades at $ 0.7965 as of this writing.

Algorand was founded with an emphasis on environmental impact. It is a sustainable and future-ready blockchain project. It uses a pure Proof-of-Stake blockchain and has a low staking requirement. Additionally, it is more efficient than other tokens in terms of energy consumption. In partnership with ClimateTrade, it offsets its low carbon footprint.