What is Algorand (ALGO) and How Does it Work?

Algorand (ALGO) is a decentralized, open-source blockchain platform that uses a consensus algorithm called Pure Proof of Stake (PPoS) to achieve fast and secure transactions. The Algorand network is designed to be scalable and energy-efficient, allowing many transactions to be processed quickly. Transactions are confirmed by a set of validators chosen randomly from a pool of eligible participants. The Algorand protocol also includes a built-in mechanism for incentivizing network participation, which helps ensure security and stability. The native cryptocurrency of…