What is Algorand

Algorand (ALGO) is a self-sustaining blockchain-based network that supports a wide range of applications. Algorand says it removes the technical barriers that for years undermined mainstream blockchain adoption: decentralization, scale, and security. The Algorand blockchain was invented to speed up transactions and improve efficiency, in response to the slow transaction times and high transaction fees of Ethereum and other blockchains. Algorand is designed in a way that there are lower transaction fees and no mining, as it is based on a permissionless proof-of-stake (PoS) blockchain protocol. You can safely and reliably buy and sell ALGO on LiteBit.