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About Algorand

Algorand is a Layer-1, open-source blockchain focused on scalability, security, and decentralization, aiming to operate like a major payment processor. It uses Pure Proof-of-Stake (PPoS), where validators are randomly selected from token holders, ensuring efficiency and low energy use. The network supports decentralized applications and smart contracts, positioning it as an Ethereum competitor. Its native token, ALGO, is used for transaction fees, staking, and governance rewards. As of mid-2025, Algorand consistently processes over 1 million transactions per day, with peak performance reaching 34,000 transactions in under three seconds, reflecting its continued focus on scalability and efficiency rather than price movements.

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