Binance will be listing Algorand, complete with six trading pairs. The exchange will offer ALGO/BNB, ALGO/BTC, ALGO/USDT, ALGO/TUSD, ALGO/PAX, and ALGO/USDS trading pairs, launching at the 22nd of June at midnight (UTC).
The circulating supply of Algorand is 2,643,333,333 ALGO, the Issue price is set at $2.40.
ALGO is currently being traded on BitMax, Huobi, Bilaxy, Hotbit, KuCoin and OKEx.
The price has gone up $0.40 since the Binance announcement but had previously dropped from $3.30, the issue price when public trading first opened.
Algorand is a public, permissionless, pure proof of stake blockchain that ensures full participation, protection and speed within a truly decentralized network.
From the Algorand Website:
Our pure proof-of-stake protocol is the first of its kind to support the scale, open participation, and transaction finality for billions of users. All backed by a sustainable business and a renowned team of experts.Source: Algorand
The team of renowned experts includes Silvio Micali, who is most famous for his work with interactive proof-systems and zero-knowledge proofs.
Steve Kokinos, Executive Chairman and Founder of Fuze is serving as CEO of Algorand.
Algorand aims to solve the Proof of Stake problems with a new approach to the Byzantine Agreement (BA) protocol. To scale the consensus to many users, Algorand uses a mechanism based on Verifiable Random Functions that allows users to privately check whether they are selected to participate in the BA to agree on the next set of transactions and to include a proof of their selection in their network messages.