< SPAN class="ql-author-58030660 QL-size-12 ql-font Microsoft Ahei ">Algorand is a decentralized blockchain network platform intended to solve the dilemma of implementing speed, security and decentralization of blockchain triangle. Launched in June 2019 by computer scientist Silvio Micali, a professor at THE Massachusetts Institute of Technology, Algorand is a permissionless open source blockchain network that anyone can build on. Algorand is committed to being a payment-centric network with Fast transactions and a strong focus on achieving near-instant Finality. Algorand is able to process over 1,000 transactions per second (TPS) and finalize transactions in less than five seconds.
< SPAN class="ql-author-58030660 qL-sie-12 ql-font microsoftyahei"> As a public smart contract Staking depends on Staking, Algorand is currently able to host decentralized application (dApp) development and provide scalability. Rising gas costs on Ethereum < SPAN class="ql-author-58030660 qL-size-12 ql-font-font Microsoft Ahei "> < SPAN class="ql-author-58030660 Ql-size-12 ql-font microsoftyahei"> led many dApp developers and decentralized finance (DeFi) traders to look for alternative blockchain solutions, Some are turning to Algorand as an ethereum alternative to dApp development and DeFi apps.