Algorand is an open-source blockchain-based decentralized network built by an extensive team of financial, cryptography and technology specialists with a few centuries of combined experience in their respective knowledge areas.
Unlike the majority of current blockchain projects, Algorand is created by improvement of existing time-proven technologies, instead of trying new ones. Algorand is one fast blockchain without sharding, delegation or bonding, or any other complications.
Once launched, Algorand will use the Pure Proof of Stake consensus protocol, in which any user, wishing to take part in the transaction verification process, will be able to launch a node, stake a certain amount of ALGO tokens, and yield the rewards from partaking in the consensus.
Like with other PoS networks, Algorand won’t require excessively-priced bespoke hardware to do the work, but a fairly powerful node with stable Internet connection will be required. It is expected, that having a profitable node will require a considerable knowledge in hardware and software, and expenses guaranteeing 24/7 node operation.