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TürkçeAlgorand Information
Algorand is a blockchain platform that prioritizes scalability, security, and decentralization, making it a promising contender in the evolving cryptocurrency landscape. It utilizes a unique consensus mechanism known as Pure Proof of Stake, which enables faster transaction processing while minimizing energy consumption. Known for its innovation, Algorand consistently pushes the boundaries of blockchain technology, attracting developers and businesses seeking efficient and sustainable solutions.
Exploring Algorand: A Comprehensive Overview
In the rapidly evolving world of cryptocurrency, Algorand has carved out a distinct niche with its unique approach to blockchain technology. Known for its speed, efficiency, and security, Algorand stands out amongst the myriad of digital currencies available today. In this article, we'll dive into the foundational aspects of Algorand, examine its past performance, and explore its future potential.
What is Algorand?
Founded by cryptography pioneer Silvio Micali, Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable, and efficient—what the developers refer to as a "pure proof-of-stake" (PPoS) consensus algorithm.
Unlike traditional proof-of-work (PoW) systems, which require substantial energy inputs and computational power, Algorand’s PPoS model enlists the support of stakeholders in the network, making it an environmentally friendly and economically efficient option.
Advantages of Algorand
1. **Speed and Scalability:** One of Algorand's key strengths lies in its ability to process a large number of transactions quickly, which is essential for widespread blockchain adoption.
2. **Security:** Algorand leverages a unique agreement model that ensures a high level of security against attacks, crucial for maintaining trust in the network.
3. **Decentralization:** Unlike some blockchain networks that become centralized, Algorand ensures a high degree of decentralization, allowing many users to participate in decision-making processes.
4. **Low Transaction Fees:** The network's efficiency allows for low-cost transactions, making it accessible for everyday transactions and business use cases alike.
Challenges Faced by Algorand
1. **Market Perception and Adoption:** Despite its technological merits, Algorand still faces challenges related to market perception and the broader adoption of its technology.
2. **Competition:** The space for smart contract platforms is heavily populated, with strong contenders like Ethereum and newer ones like Solana and Cardano competing for a similar market share.
3. **Price Volatility:** Like many cryptocurrencies, Algorand has faced significant price volatility, which can deter potential investors looking for stable growth.
Performance and Historical Trends
Algorand’s market journey has been characterized by an initial surge followed by a drop that mirrors the broader crypto market trends. The coin achieved its all-time high of $3.56 on June 20, 2019, before experiencing declines that have brought its current price to approximately $0.12.
Despite reaching an all-time low of $0.0875 in September 2023, Algorand has shown resilience with a subsequent rise of about 39% since then. With a total supply closely matching its circulating supply, Algorand maintains a degree of scarcity which could play a favorable role in its valuation going forward.
Future Prospects for Algorand
The future outlook for Algorand appears promising, given its robust technological framework and ongoing development initiatives. With growing interest in scalable and efficient blockchain solutions, Algorand is well-positioned to capitalize on emerging opportunities across finance, supply chain, and beyond.
As the cryptocurrency market matures, Algorand's environmental focus and efficiency could serve as a significant differentiator, especially as global regulatory landscapes continue to evolve with more emphasis on sustainable technologies.
In conclusion, Algorand's innovative technology and commitment to solving some of blockchain's most pressing challenges, such as scalability and environmental impact, place it in a strong position amidst the competitive crypto landscape. While it faces hurdles typical of the crypto sector, its future remains bright with opportunities for growth and development.
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General Information |
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Title
Algorand
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Symbol
algo
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Whitepaper
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Website
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Community
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Last Updated
2025-01-21 23:53
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Price Data |
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Current Price $
0.425115
$
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High 24h
0.445149
$
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Low 24h
0.407208
$
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Price Change 24h
-0.0030466557671779
$
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Price Change % 24h
-0.71157
%
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Market Data |
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Market Cap
3567787543
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Total Volume
297607314
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Market Cap Change 24h
-28021390.971948
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Market Cap Change % 24h
-0.77928
%
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Return on Investment (ROI)
-82.286892196204
%
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Supply and Availability |
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Circulating Supply
8386885389.8062
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Total Supply
8386885361.7869
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Max Supply
10000000000
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Historical Data |
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All Time High (ATH)
3.56
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ATH Change %
-88.05351
%
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ATH Date
2019-06-20 14:51
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All Time Low (ATL)
0.087513
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ATL Change %
386.13392
%
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ATL Date
2023-09-11 19:42
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