The Algorand.foundation is a Company Limited by Guarantee (CLG) with the incorporation issued by the Accounting and Corporate Regulatory Authority (ACRA) in the Republic of Singapore. Together with our community, they are building trusted, public and permissionless infrastructure for the borderless economy.
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020.
Important Points Table Of Algorand.foundation
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Building the Borderless Economy
The Algorand.foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.
Algorand.foundation believe that a public, permissionless, pure proof-of-stake blockchain with an open source approach is fundamental to delivering on the vision of a borderless economy. The Algorand consensus mechanism is designed to promote open participation, security and performance within a network that is decentralized by design.
With consensus on a new block being reached as fast as the block can be propagated throughout the network, Algorand’s transaction throughput is on par with large payment and financial networks, all securely scalable to billions of users. And Algorand is also the first blockchain to provide immediate transaction finality without the fear of forks.
Get involved in the community to network, to be inspired by other like-minded innovators, to advance the potential of blockchain technology, and to be a part of our collective future success.
With a healthy ecosystem of technology organizations, developers, users who have already experienced success building on Algorand, and users who are just getting started, the Algorand community is a robust group with a shared vision of a decentralized, and borderless future. Get involved in the community to network, to be inspired by other like-minded innovators, to advance the potential of blockchain technology, and to be a part of our collective future success.
Algorand Global Ambassadors
Algorand.foundation are one of the key leaders among the worldwide Algorand blockchain community. Ambassadors are part of an amazing group who believe in the potential of the Algorand blockchain and are helping to build local communities, focused on sharing knowledge and insights on the development of the blockchain ecosystem. The Algorand Foundation has created a global program to reward the greatest partners for the work they are doing to create vibrant Algorand communities. The Foundation has also rewards Developer Ambassadors for creating content and contributing to the ecosystem.
Algorand.foundation releases new binaries (Algorand’s executable files) on an ongoing basis. These new binaries can contain any number of bug fixes or new features, but the key question is whether or not the consensus version changes. The consensus version can be thought of as the language that the nodes speak to each other. If the consensus version changes, then the language is changed.
The Algorand Public Blockchain seeks to have a constitution and long term governance structure designed with community involvement. More details on the constitutional assembly and governance policies/processes will be shared soon. At launch, governance of the network is assisted by the Algorand Foundation’s Economic and Technical Advisory Committees, with committee members selected by University & Non-Profit Program participants.
Algorand Foundation Accelerator Programs
The Algorand Foundation aims to encourage and spur blockchain development with an accent on Finance 3.0 and beyond, empowering projects to build, grow and foster financial innovations across the Algorand ecosystem. The Algorand Asia and Europe accelerator programs provides selected projects with end-to-end support across the wide spectrum of strategy formulation, go-to-market execution, and subject matter guidance across technological mentorship, token economics, marketing, and fundraising. The blockchain startups and projects selected are benefiting from working with a variety of esteemed, distinguished, and experienced program mentors.
Algorand.foundation foundation is comprised of a diverse group of industry experts, researchers, business leaders, economists and more — and they are hiring! They are committed to the development of an inclusive and transparent system where anyone can build opportunity through decentralized applications and projects, no matter where they are. With the primary goal of promoting broad participation and the decentralization of the Algorand network, the foundation is assisting with the launch of the network, initial governance and the evolution of the public blockchain.
Who Are the Founders of Algorand?
Silvio Micali is a professor of computer science at the Massachusetts Institute of Technology, and the founder of Algorand. He is a recipient of the Turing Award (in 2012) for his fundamental contributions to the theory and practice of secure two-party computation, electronic cash, cryptocurrencies and blockchain protocols. This makes him one of the foremost creators of crypto in the world.
How Is the Algorand Network Secured?
The Algorand.foundation blockchain is a permissionless pure proof-of-stake blockchain protocol. Unlike proof-of-work blockchains, where the root block must be validated by randomly-selected validators (using computing power), in the pure proof-of-stake approach all of the validators are known to one another and only have to agree on the next block in order to create a new block.