Cryptocurrency News

Algorand, a Proof-of-Stake Blockchain Company, Goes Open Source

Algorand, a permission-less, proof-of-stake blockchain and technology company, announced that their node repository is now open source.

Part of Algorand’s ongoing mission to develop and promote a decentralized blockchain, the company has made several of its projects open source over the past year, including a Verifiable Random Function and their Developer SDKs.

The blockchain’s nodes are run by diverse entities businesses, individuals, and consortiums spread across many countries, according to the company website. The decentralized voting mechanism pools and randomly selects these users to develop a unique committee to approve every block.

Now that the process is open source, Algorand hopes to further their exploration of the “borderless economy and… evolve blockchain.”

The company also announced a partnership with Flipside Crypto to provide a free user engagement analytics suite. This toolbox gives Algorand-based developers user insight, to help build the most applicable and relevant Dapps.

The Flipside Crypto partnership allows developers to annotate their Dapp addresses, monitor the live number of active addresses, and compare their Dapp’s activity to other Dapps on Algorand’s platform.

This ties in with the tools already provided by Algorand, such as free SDKs. which have been used to develop a number of media, entertainment, real estate, and financial services applications.

Backed by Pillar and Union Square Ventures, and an unnamed “broad global investment group” to the tune of nearly $70 million, Algorand prides itself for building the technologies that will remove the “technical barriers that for years undermined mainstream blockchain adoption: decentralization, scale, and security.”

Image via CoinDesk archives

View original post

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button