Designed by MIT professor and Turing Award winning cryptographer Silvio Micali – is uniquely capable of delivering on the promise of a borderless global economy.
It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis.
In traditional finance, trading assets generally requires a trusted intermediary, like a bank or an exchange, to make sure that both sides receive what they agreed to. On the Algorand blockchain, this type of trade is implemented within the protocol as an Atomic Transfer. This simply means that transactions that are part of the transfer either all succeed or all fail.
Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solves for the “blockchaintrilemma” by achieving both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.