Algorand (ALGO): What This New Network Promises

Algorand (ALGO) took over crypto social media by a storm, and left many asking what the project was about. Algorand has existed since 2017, but just in the past few days entered the stage where its market price would matter. ALGO tokens will go through a process of distribution through daily Dutch auctions.

At the same time, leading exchanges like Binance and KuCoin already carry the asset, allowing for auction buyers to liquidate some of the tokens. The auction and market prices promise to be interconnected.

If that model sounds familiar, it is because Algorand follows the token sale approach of . The EOS token immediately raised concerns for a concerted manipulation of both auctions and market prices. In the case of ALGO, it is unknown what the periodic auctions will do to the market price.

Algorand resembles EOS in another aspect: the project will have a governing body and a constitution,…

This article appeared first on Cryptovest

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