The Algorand blockchain is the brainchild of Turing Award Laureate Silvio Micali and was first introduced through a technical white paper in 2017. Since then, the mainnet launch of Algorand blockchain has been widely anticipated by institutional investors, raising $66 million from the likes of Union Square Ventures and Pillar VC. The initial token sale auction raised $60 million in June 2019. The Algorand blockchain uses unique Byzantine agreement protocol to achieve near instant consensus and scaling capabilities.
Modified on: Fri, 19 Jul, 2019 at 10:13 AM
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