Algorand is a decentralized blockchain that began development in 2017 by MIT professor Silvio Micali. The primary advantage of the blockchain is its scalability and very low transaction costs, thanks to its consensus mechanism using Pure Proof-of-Stake (PPoS). The blockchain has similar characteristics to Ethereum and can therefore be used for smart contracts, tokens, NFTs, and dApps. Algorand can be described as the fundamental infrastructure on which various projects can be launched.

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