Thousands of cryptocurrencies, new projects popping up every day, each promising to do better, faster and cheaper than all the competition … while making you rich in the process! And among this proliferation to which the current madness around Decentralized Finance adds a little more noise, a handful of assets that stand out from the crowd that we will have to be able to identify correctly before the opportunity passes.
Algorand (ALGO) embodies the phenomenon well. A still relatively discreet crypto currency, still accessible (despite a recent rally that reminded everyone of its potential), the ALGO token does not only present an asset worthy of joining an investor portfolio: By itself, its The staking program (dividends in crypto sauce) deserves your full attention. We go around the question.
Warning : This sponsored article is offered to you in partnership with the company Feel Mining. Crypto investments are risky by nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an investment invitation.
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At a time when many projects do not deign to present the slightest team, it is useful to dwell on the individuals who work behind the concepts and the technology, especially when said individuals alone embody the notion of disruption. .
Silvio, the computer scientist-explorer
Here is Silvio micali, founder and public incarnation ofAlgorand (ALGO):
Silvio at 66, he is Italian-American and he is a computer scientist. Be careful, not an IT specialist like the guy in the hotline for your Internet box: Silvio micali has been working for several decades within the MIT, technological institute that I wouldn’t offend you to introduce you further. And in this prestigious context, he works more particularly in Artificial Intelligence, asymmetric cryptography or the concepts of digital signatures … To put it another way, Silvio is one of those who determine what computing is, while pushing back without cease the limits of the discipline.
In 1993, he won the Gödel Prize and the prestigious Turing Prize – the equivalent of the Nobel Prize in Mathematics – in 2012 for his work on cryptographic proof verification and on complexity theory.
Finally, and even if this does not yet pay sufficient homage to the whole and the complexity of his work, the researcher is also at the origin of the concept in 1985 of zero disclosure proof (zero-knowledge proof in English), a protocol at the origin of the architecture of many so-called “anonymous” crypto currencies, including cryptocurrency ZCash (ZEC) for example (ZEC that by the way, you can immediately start mining by consulting this article).
In short, you get it, when a big name like Silvio talks about blockchain, crypto or private key, we sit down and take notes. And while not a day goes by right now without a new “disruptive” crypto project being shaken up under our noses by illustrious strangers with a nebulous background aiming to reinvent the wheel, it is worthwhile to remember that nothing replaces academic solidity, a verifiable CV and the rigor brought by a scientific environment. Yet it is exactly in this nurturing environment that ALGORAND and its ALGO token were born, perhaps one of the most underestimated crypto projects today.
On its official website, Algorand is defined as follows:
“A fully decentralized, secure and scalable modular blockchain that provides a common platform for the creation of products and services for a borderless economy. Within Algorand, Silvio oversees all research, including theory, security and crypto-finance. “
We will agree, the definition is deliberately broad. Indeed, Algorand is part of the current trend – eminently strategic – the emergence of blockchains “infrastructures ”, or those who do not seek to limit their value proposition to very specific services (such as for example the tokenization of financial assets, or oracle services), but plan to serve as a medium for the future“ Internet of value ”whose growth is inevitable …
The future will tell us if this Internet of value will allow the coexistence of competing, interconnected structures, or if in accordance with a very Darwinian logic, an actor will end up asserting himself, because of his own qualities.
However, whatever the way things turn out, let us be certain of one thing: only the most solid players, whose growth will have been facilitated by sufficient scientific and technological rigor, will be able to fulfill this promise of Internet of exchanges, resolutely decentralized.
And among these actors, Algorand clearly stands out. Each of the studies and concepts developed in the ecosystem is thus the subject of a critical double reading and made available to peers for amendment, possible modifications and validation. Very academic in its approach, the energy and the means deployed to bring life and dynamism to what is more akin to a free crypto-University than to a business project has a logical consequence: Algorand does not run out. in aggressive marketing and is not one of those crypto initiatives that spend more time and money generating “Hype” than tweaking their value proposition.
On all fronts
As a blockchain-ecosystem, Algorand is present on many fronts at the same time. As much in capacity to deploy and operate smart contract and dApps of all kinds, than to exploit Oracles and even to support without fail the future evolutions of the Decentralized Finance. In this regard, the very recent partnership signed a few days ago with Singaporeans from Republic is to be followed very closely, as it could embody the first fruits – already – DeFi 2.0.
“We looked at several potential technology partners to truly unlock the potential of decentralized finance, but ultimately chose Algorand to issue our innovative incentive token due to the functionality of a profitable large-scale platform. Since launching Republic’s digital asset on the Algorand blockchain, we have been impressed with the performance, scalability and strategic value it has brought to the Republic ecosystem. “
Kendrick Nguyen, co-founder and CEO of Republic.
A competition under the spell
The elegance and robustness of Algorand solutions are such that even the “competition” has no choice but to recognize it. So, a handsome player, after studying his architecture, even Charles Hoskinson, the boss of Cardano (ADA) couldn’t help but congratulate Silvio Micali and his Algorand team
“Congratulations Silvio, finally we have a real competitor”
Algorand’s protocol works on what is termed “Pure Proof of Stake”. In this context, validators are not rewarded and are unlikely to be “slashed”(In other words, punished for inappropriate behavior). The structure is so made thatit becomes impossible for the minority and irrational for the majority to cheat on the system because it would devalue their assets. There is no either immobilization tokens, so that a user has their ALGOs at all times. Blocks are created in two phases where a single token is chosen at random and its owner proposes the next block. Then 1000 tokens are selected at random and their owners approve the block proposed by the first user. These phases are ensured by a primary protocol called Byzantine binary agreement
The experimental results obtained on 1000 nodes demonstrate the following capacities:
- Confirmation of 1MB block of transactions in ~ 22 seconds for 50,000 users
- Almost constant latency when you go to half a million users
- 125X the transaction capacity of Bitcoin
- Acceptable latency even in the presence of actively malicious users.
Value and potential
Among the recent events having influenced the price of ALGO, the listing on Coinbase July 17 obviously generated the usual effects: the ALGO token saw its value increase by 80% in 30 days.
And compared to its low of last March, ALGO is up 500%
A solid progression, therefore, but which nevertheless could prove to be modest in view of the future potential of ALGO. Indeed, the token which is currently trading around 0.53 cts is still far from its ATH (historic high) of $ 3.28 a little over a year ago.
Finally, in addition to its potential organic growth, Algorand is accompanied by a staking which will allow you in a few clicks to collect dividends in ALGO, so as to effortlessly grow your position on this very promising project
Set up ALGO staking with Feel Mining
You probably already know the company Feel Mining, specialized in mining Bitcoin and other crypto currencies in all possible forms. Since the launch of Season 2 of the Grenoble adventure, several currencies have been offered for purchase on the official site, for the purpose of staking them. For example, you can find a presentation of Tezos staking, or even COSMOS (ATOM).
As always, in the operation, Feel Mining takes care of everything, and makes sure that you can benefit from passive dividends in crypto with a few clicks, and almost immediately.
In the case of Algorand (ALGO), subscribing to the staking service via Feel Mining will allow you to obtain effortlessly 5.64% ROI (Return on Investment) on your ALGO capital.
Step 1 : select the number of ALGOs you wish to acquire and have Feel Mining staker for your profit.
Do you have the friendly piglet in your sights? I wouldn’t insult you for explaining how to go about satisfying his appetite for fresh ALGO. Just fill in the interested party commensurate with your investment, in increments of 250 ALGO.
Step 2: pay for your purchase and start staking!
We will have seen more complex tutorial, let’s agree! As soon as your payment has been acquired and validated, the ALGO staking mechanism begins. The performance is made possible in particular by the fact that Feel Mining already has a reserve of tokens in order to meet the demand of its community. It should be noted in passing the company’s desire for transparency, which ensures that as many parameters and information as possible are accessible, so that the act of purchase is fully informed.
What do the words “Available balance” / “immature” mean? The explanation is simple: the generation of staking rewards is visible in real time on your dashboard. However, for logistical reasons, these rewards are only paid to your account once a day, going from “immature” to “available”.
Step 3: manage your rewards
As soon as the machine is started, you will have to determine your strategy. On your dashboard, several options will be available to you:
- “Remove”: To send your ALGOs to another wallet
- “Convert”: To transform your ALGOs into Bitcoin, Ethereum, Litecoin or Tether (USDT)
- “Rule”: To determine an automatic process (of the type“ when value reaches X, automatic conversion into currency Y ”or“ send to an external Wallet ”)
- “Detail”: Gives information on the price, the trend, the amount of dividends obtained in 24 hours, etc.
As often, it is important to remember that a crypto investment is inherently adventurous. So take the time to conduct your own research and form your opinion, whether it is Algorand, or any other project you may wish to invest in. However, and even without adopting an investor logic, take an hour to get to know Silvio better, Algorand could well end up surprising everyone.
In the previous episodes of the Tribune du Minage:
Nice to meet you, I’m Hellmouth! Editor-in-chief of Cryptocurrencies, the crypto medium that you do me the honor to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than to support the global adoption and the democratization of the treasures offered to us by blockchain.
I write articles in between cocktails in Tahiti, my adopted island, and don’t mind, if the opportunity arises, to feast on a plump scam or an overly enterprising Ponzi scheme.
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