What can you do with the ALGO token?
ALGO is the Algorand blockchain native currency used to secure the Algorand blockchain and pay processing fees for Algorand-based transactions.
What is Algorand?
Algorand is an open-source blockchain meaning that anyone can view and contribute to the platform’s code. Its platform is designed to process many transactions quickly, similar to a major payments processor like Mastercard or Visa.
What are its Capabilities?
Algorand can host other cryptocurrencies and blockchain-based projects, making it a direct competitor to Ethereum. Algorand uses an operating protocol called pure proof-of-stake (PPoS), which recruits network operators from the entire pool of ALGO coin holders
What is its Ecosystem?
With more than 500 global organizations leveraging its technology, Algorand is enabling the simple creation of next-generation financial products, protocols, and exchange of value across DeFi, financial institutions, and governments.
Among those are:
- Davivienda
- Revolut
- Fifa
- And many more
Important: Bitso only supports ALGO on the Algorand blockchain. Any deposit from another network (BSC, Polygon, etc) will result in the loss of your tokens.
Algorand is a huge project, and what it has achieved is quite impressive. For this reason, and for many more, we’re listing it on Bitso.
Stay tuned for new cryptocurrencies…
