ALGO When people in the crypto world talk about "algo," they are almost always referring to Algorand.Algorand (ALGO) is a blockchain platform and its native cryptocurrency. Founded by MIT professor and Turing Award winner Silvio Micali, Algorand was designed to solve the "blockchain trilemma"—the challenge of achieving speed, security, and decentralization all at once.
It stands out for its unique "Pure Proof-of-Stake" (PPoS) consensus mechanism, which randomly selects validators from the entire pool of users who have staked ALGO, rather than relying on a small, fixed group. This approach is intended to make the network more secure and decentralized.
The ALGO token is used for a variety of purposes within the ecosystem, including paying for transaction fees, staking to secure the network, and participating in the platform's governance.