Glossary
Algorand
A Layer-1 founded by Turing-laureate Silvio Micali in 2019, using a pure proof-of-stake protocol (Algorand Consensus) for near-instant deterministic finality.
Algorand launched in 2019 under research by Silvio Micali. Its consensus is a pure proof-of-stake protocol where a randomly selected committee proposes and verifies each block, producing deterministic finality within seconds.
The chain emphasizes simplicity and energy efficiency. Smart contracts run in the Algorand Virtual Machine using the TEAL assembly language or Python-flavored PyTeal. Tokenization of real-world assets is a notable focus, with several large stablecoin deployments (USDC on Algorand, formerly USDT) running on the chain.