Algorand is a decentralized blockchain network based on the Byzantine Agreement that uses the Pure Proof-of-Stake consensus mechanism. Algorand addresses the problems that most blockchains now face, such as transaction speed, security, and scalability. Algorand aims to provide a decentralized, secure, and efficient platform for businesses worldwide, where everyone may benefit and contribute to the network’s growth.

Algorand Token (ALGO) is a utility token in the Algorand ecosystem intended to reward users and programmers who participate in Hackathon and Algorand’s campaigns and tournaments. ALGO is also used as a Relay Node incentive.