Algorand is an open-source software company based in Boston with the mission to create a borderless economy. Algorand developed a permissionless and pure Proof-of-Stake (PoS) protocol with open participation, scalability, security and transaction finality. Algorand aims to solve the three main problems faced by blockchains today, also known as the blockchain trilemma: security, scalability, and decentralization. Algorand has some key advantages: Low computation requirements, the entire community agrees on the next block and confirms transactions with latency on the order of a minute while scaling to many users, token holders can delegate their tokens if they wish to participate in the consensus, low fork probability, the network is not controlled by a few miners since proposers are randomly selected and community token holders can propose changes to the protocols.
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