Algorand (ALGO) is the native cryptocurrency of a pioneering first-layer blockchain network, designed to expand the horizons of blockchain technology. Established by Silvio Micali, a distinguished MIT professor and cryptography luminary, Algorand offers an open-source, permissionless platform accessible to all.
Founded by one of the brightest minds in cryptography and recognized as the official blockchain partner of FIFA, Algorand enjoys endorsements from influential quarters. Notably, SEC Chairman Gary Gensler, who is often critical of the crypto industry, has previously shown support for ALGO.
However, despite these high-profile connections, the Algorand network has yet to achieve the level of adoption anticipated by ALGO holders. For context, Algorand’s Total Value Locked (TVL) trails behind that of Fantom and Kava, two altcoin competitors with lower market capitalizations and fewer resources.
