Day eight on my quest to write a story on Publish0x every day for a year. So far, I've covered the important topics of peanut butter, the word 'whoa', frogs, the difference between BTC, BCH and BSV, Croatia, coffee,and the movie Drive, content as currency and coffee.
Today I'm gonna talk about Algorand. And I know, I know.
It took me ten days with the series to actually cover something crypto-related.
Algorand (ALGO) is my favourite crypto this side of Bitcoin. The only problem is no one uses it.
Algorand was launched in 2017 and designed by a team led by Silvio Micali, an Italian computer scientist who won the Turing Award, which is basically the Oscar for computer science.
In theory, the Algorand blockchain is designed to be like Ethereum, but cheaper and much faster.
This is the main reason why I like it. Say I wanna buy a coffee from you and pay in ALGO. The transaction would take about 5-10 seconds to settle, and the fee would be a fraction of a cent.
Algorand rebranded to Pera Algo a few months ago, and this means you can no longer earn staking rewards just by leaving your ALGO in your wallet.
I still haven't moved my ALGO, though. Still sitting in the wallet rather than an exchange.
So what's gonna happen next? Not sure.
Algo is being adopted across the board by various institions, including in Italy, probably because Micali is Italian.
But, in real world terms, few people are using it.
At the time of writing, ALGO is valued at $0.257 and it rank #36 on the CoinMarketCap list of top 10 cryptos by market cap.
Not ideal, is it? I still believe in ALGO, though.
Do you?
