How we develop a Cryptocurrency for the LGTBI community with Algorand

  • Open Source Blockchain
  • High capacity: In particular, Algorand’s blockchain technologies can handle more than 500,000 transactions per day, which is higher compared to alternatives such as Cardano’s blockchain, which handles around 150,000 transactions per day.
  • Costs: We believe it ss is the fastest and most cost-efficient platform at present.
  • Permissions: Algorand is designed using a permissionless blockchain protocol that can finalize instant transactions without any uncertainty.
  • Origins: Algorand was founded by Silvio Micali, a computer science professor at the Massachusetts Institute of Technology. Silvio received the 2012 Turing Award for his innovative contributions in cryptography, blockchain and cryptocurrency protocols, and electronic money, making him a leading mind in the cryptocurrency and blockchain industry.
  • Pixel Consensus Multi-Signature: Pixel is a pairing-based multi-signature consensus protocol designed to secure signatures on blockchains. It can reduce bandwidth consumption, storage usage, and also the processing power needed by nodes. Making ALGORAND the most energy-efficient blockchain.
    Pixel signatures are forward-secure so that no new keys can be generated for use on old blocks.
  • Vault: Vault is a security mechanism in the blockchain ecosystem that prevents instant withdrawal of cryptocurrencies.
    Vault in Algorand reduces storage usage and costs for participants. Thus, users do not have to download, store and verify large volumes of data before participating in consensus protocols.
  • Immediate transaction finality: The Algorand blockchain only verifies the block with the required signature threshold; therefore, all transactions on the Algorand blockchain are final.
  • Self-Selection: Algorand does not have dedicated nodes or users that determine the next block, but rather participants are continuously selected randomly and secretly to participate in Algorand’s consensus protocol. Therefore, each block on the Algorand blockchain reveals the next set of participants, making it extremely difficult to predict participants in the blockchain confirmation.
  • Scalability: Algorand has an efficient Byzantine protocol that can reach a consensus on the next block at high speed. Therefore, Algorand’s blockchain can support billions of users, Algorand can sustain a high transaction rate while maintaining low transaction costs, as computing power is not lost in solving cryptographic puzzles.

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