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/biz/ - Business & Finance

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22170836 No.22170836 [Reply] [Original]

>What’s Algorand anon?
Algorand is permission less, Pure Proof-of-Stake (PoS) protocol with open participation, scalability, security and transaction finality.

>How is this different from other coins?
1. Team consists of actual PhD’s, and giga-chads from MiT. The company is run by Silvio Micali, an MiT professor who has been awarded the Turing Award in computer science. That’s the equivalent of winning a Nobel Laurette.
2. Algo has successfully solved the three main problems faced by blockchain today, also known as the blockchain trilemma: security, scalability, and decentralization. Most blockchains always solve 2/3, but algo has done the unthinkable thanks to their big brain leaders. This is due to Algo’s consensus algorithm, Pure PoS, which we will get into later.
3. Actual non-meme institutions are looking at Algorand as an opportunity to leverage digital assets within their business. This is due to their ability to commit to over 1,000 TPS, with low fees. Oh you’re paying 40 bucks on a tx that takes 2 minutes to go through, and might fail? Well with Algo it’s easy, quick, and most importantly, cheap.

>Alright, let’s talk about the tech?
Alright biz, I know you’re glossing over this one, but it’s important to note just how sick Pure PoS is. At a very high level, in Algorand, a new block is constructed in two phases.
• In the first phase, a single token is randomly selected, and its owner is the user who proposes the next block.
• In the second phase, 1000 tokens are selected among all tokens currently in the system. The owners of these 1000 tokens are selected to be part of a phase-2 ‘committee,’ which approves the block proposed by the first user.

Read More: https://medium.com/algorand/algorands-core-technology-in-a-nutshell-e2b824e03c77
https://medium.com/algorand/secure-blockchain-decentralization-via-committees-7602f598a0a9

>> No.22170853

>Who are some of the companies Algorand is currently working with?
Archax: an FCA Regulated Exchange to Build New Wave of Digital Securities on Algorand
Circle: Bringing USDC onto the Algorand Blockchain
Tether:Tto leverage Algo 2.0 ASA Technology to launch stablecoin on Algo
IBMR.io Southeast Asia: Plans to establish microfinance platform on Algo 2.0
World Chess: Plans to do a Hybrid IP on Algo and the London Stock Exchange
ISDA (International Swaps and Derivatives Association): Using Algo to develop advanced financial Assets on the Blockchain
Blockchain Gaming Alliance (BCG): Partners with Algo as Algo is selected to store chess ratings for FIDE Online Arena.
Verady: To offer easy accounting for Algorand token holders. No more figuring out how much you owe to the IRS. Done for you.
Wall Street Blockchain Alliance: Welcomed Algorand as new corporate member. Using their tech to promote blockchain tech into global markets.

>Okay, but are there any cons?
Yes anon. While the technology and team are light years ahead of most, they have had an awful token distribution. Currently they have a 200 million staking bounty program, in which 50 million tokens are brought into circulation every 6 months for 2 years (September 1st was the 2nd batch). However, this is a long-term coin with good outlook. People are gonna FUD token distribution, but it’s a small blimp for what is to come.
>Where can I buy?
Most institutions recognize Algo’s future, which is why you can buy at:
Coinbase or Coinbase Pro
Binance
Kraken
Bitfinex
OKEx
Bittrex
Bithumb
KuCoin
BitMax
And pretty much any other exchange.

>> No.22170890

>>22170836
Why should I buy this

>> No.22170961

>>22170836
>>22170890

Also coinbase staking for Algo when?

>> No.22170967

>>22170836
A well informed member of /biz/? And they're selling ALGO to us? Could ALGO be the actual ETH killer. Of course it could. Buy now before it's too late.

>> No.22171128

>what is Algorand?
A bunch of desperate bagholders hoping the thousands they threw into this shit will ever result in a profit but knowing it never ever will

>> No.22171235

>>22170961
why would you give coinbase a cut of your staking rewards when literally all you have to do to stake is move the coins to your wallet? are you retarded?

>> No.22171783

>>22171128
>MOMMY I BOUGHT IT WHEN IT WAS .75 AFTER IT WAS GETTING SHILLED ON /BIZ/ AND I LOST $300 ON IT. NOW I'M UPSET AND MAKE IT A POINT TO FUD IT IN EVERY THREAD I SEE ABOUT IT.
T.(You)

>> No.22171908

>>22171128
how much did you lose

>> No.22171935

>>22171235
Yes I'm retarded

>> No.22172517
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22172517

>>22170836
Based. Bought in already at the 20 cent range... If it gets back to under 35 I'm going to stack more. Algorand is going to be massive one day. Long term hold for sure.

>> No.22172673

>>22170836
algorand, cardano, whatever, I don't give a fuck. just give me a network that doesn't rape me with transaction fees and gets clogged to hell to the point where my transactions get reverted and my fees disappear.

>> No.22172675
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22172675

>>22170853
You forgot to mention that IDEX is also building their new exchange on Algorand.

>> No.22172745

>>22171783
I bought at 77 cents and used 200 dollars dumb ass

>> No.22172804

Buy the dip. Download the algorand wallet. Get rewards every day.

I get about 10 new Algos a day. You can, too. Buy the dip.

>> No.22173104

.20 eow
.05 eom

>> No.22173333

>>22172804
how much did you stake

>> No.22173382

>>22173104
You put the decimal in the wrong place you retard
2.0 EOW
5.0 EOM

>> No.22173508

>>22173333
checked. The algorithm is working.

50k. Bought some more last night on Cuckbase, can't transfer it yet.

>> No.22173768

>>22173382

You guys told me the same at .7, .6, and .5.

I support Algo, but the current prices are dumb. We aren't hitting 5 until 2021

>> No.22174215

>>22173104
i will buy a 100k more if it hits .05 and another 100k every month it stays there.

>> No.22174310

>>22174215
Is your final goal to have all ten billion shitcoins

>> No.22174480

>>22174215
>>22174310

At .05, he cant lose. Even at .20, he will be able to get money back in worst case. But it CAN crab at .20 for eternity. Even that assumes a higher MC than present.

>> No.22174673

>>22174310
>i will buy a 100k more if it hits .05 and another 100k every month it stays there.
why do u sound so mad, u ok ?

>> No.22174737

>>22174310
Yes. Once I own all ten billion of these it’s on to XRP.

>> No.22174793

>>22174737

Based

>> No.22174848

>>22174673
Because I'm never going to make my 200 bucks back on this shit and I hate the faggots who shill it on here

>> No.22174913

>>22172673
ALGO is literally that dude. Transactions are fuckin' lightning speed and the fees are 0.002 ALGO -- not even close to a penny.
I normally don't invest in anything other than BTC/ETH, but Chainlink and Algorand are the only 2 I really make an exception for.

>> No.22175363

can you imagine not buying into the actual next Bitcoin?

>> No.22175402

LET'S FUCKING GOOOOOOOOOOOOOOO

>> No.22175447

I have never been more bullish on a coin. ALGO to 5 USD by EOY, screenshot this

>> No.22175523

>>22175363
>>22175402

To .05 first.

>> No.22175595

I got in around 50 cents with a decent stack. I do think it has a strong future outlook, but in the meantime we might get fucked hard.

>> No.22175628

>>22170836
>I got in around 50 cents with a decent stack. I do think it has a strong future outlook, but in the meantime we might get fucked hard.
I'm swinging this shitty yield farming clones to accumulate more algo, and only more algo

>> No.22175666
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22175666

>>22170836
I'm sold
starting to accumulate desu

>> No.22175731

>>22175628
Literally all my DeFi meme gains are going straight into ALGO, Silvio is going to take us to the moon

>> No.22176210

>>22175595

Only reasonable post in this thread so far.

>> No.22176286

>>22175666
checked and based. don't forget to stake in the algorand wallet.

>> No.22176625

post ALGO memes

>> No.22176725
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22176725

>> No.22177235
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22177235

>>22176625

>> No.22177705

>>22172804
Thank you for the tip. Exported my binance stack to that wallet.

>> No.22177736

>>22176725
kek saving this one i like it, my algo bags are pretty low but going to purchase more

>> No.22178370
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22178370

>>22177235

>> No.22178428
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22178428

>>22178370

>> No.22178611

Smart money here, I accumulated this for the first time during today's dip

>> No.22178733
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22178733

>> No.22179255

>>22170836
these kinds of threads really remind me of the "korean ethereum" ICX threads back then
selling my stack later losers