The latest addition to Coinbase Earn's collection of cryptocurrencies is Algorand, and Algorand is a pretty cool project.
Once Coinbase have authorised you (you may be on a waiting list for a while) simply answer 3 easy questions after watching 3 brief clips about Algorand to earn yourself $6 worth of the promising Cryptocurrency, currently ranked 64th by Market Cap in the crypto listings (at the time of writing).
Once you have got hold of your coins you have the obvious choice to ditch them for something more established and well known such as Bitcoin/Ethereum or you can take a chance at hodling.
Even if $6 worth of Algorand is not much, you have the option to put it to work immediately by simply transferring the coins over to your Atomic Wallet (currently only very minor network fee to do this) where they will be auto-staked for you. You will then begin to receive rewards as further ALGO blocks are added to the chain.
Now would be an excellent time to claim these free coins as I myself have just recently done. Altcoins have recently taken a massive hit in the markets and are currently continuing to be torpedoed out of the water. Obtaining coins from worthwhile 'Alt' projects now could well prove to be a complete bargain once the alt markets recover.
I believe Algorand has value as it's employing a unique method to solve the scaling problem of current blockchain systems, namely the most 'traditional' type employed by Bitcoin and Ethereum (up until Eth 2.0), the system of 'Proof of Work'. Algorand's USP is that it solves the blockchain 'trilemma' in that it manages to be both secure and decentralised but also scalable (This is also the answer to the first Coinbase Earn question btw).
It does this by avoiding the use of any miners or nodes performing work and instead uses algorithms that select nodes at random to verify the upcoming block and the chosen nodes are incentivised to do so. The system works in a way that the more ALGO a user holds the more likely they are to be chosen as a validator.
One result of hodling free coins from a project featured on Coinbase Earn or similar is that it encourages you to both initially research the project but also to then keep tabs on its ongoing development. I see this as great individual learning on the intricacies of cryptocurrencies and also the markets in which they operate and compete. To put it simply it's another opportunity to learn. This is the upside even if the project by chance does not go on to be majorly successful. Keeping this in mind I wish all the best to Algorand and look forward to the future.
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