What is Algorand?


Algorand Blockchain Summary

algorand logo

Launch Year



Public, Permissionless

Native Cryptocurrency



Pure Proof-of-Stake (PPoS)

Algorand stands out in the blockchain world for its focus on addressing the blockchain trilemma of speed, security, and true decentralization.  Its unique Pure Proof-of-Stake (PPoS) consensus mechanism allows it to process thousands of transactions per second without sacrificing security or decentralization. Algorand is designed to be a foundation for the future of finance (DeFi) and to support various applications like smart contracts, NFTs, and stablecoins.  With its focus on sustainability and accessibility, Algorand is a compelling option for both developers and users seeking a high-performance and user-friendly blockchain.


Algorand staking mechanism and details

Algorand’s Pure Proof-of-Stake (PPoS) mechanism makes it easy for anyone to participate in securing the network and earn rewards. To stake ALGO, you simply need to hold a minimum amount in a compatible wallet. Unlike other PoS systems, there’s no need to run a node or actively participate in block validation. Your ALGO holdings automatically earn staking rewards, contributing to the network’s security and earning you passive income. The staking reward rate is adjusted dynamically, aiming to provide attractive returns while encouraging participation.

Details about Algorand staking

  • Participation Rewards

    All ALGO holders automatically earn staking rewards, simplifying participation in the network.

  • Security & Governance

    Contribute to network security and participate in decision-making through staking ALGO.

Coin Utility

Used for paying transaction fees, participating in governance, and earning staking rewards.


Fixed maximum supply: 10 billion ALGO, ensuring scarcity and potential long-term value.


Algorand’s Pure Proof-of-Stake consensus eliminates the need for energy-intensive mining, making it an environmentally conscious blockchain.


Potential burn: A portion of transaction fees may be burned, reducing the circulating supply of ALGO over time.


The initial distribution of ALGO tokens was intended to promote decentralization and long-term adoption. A significant portion was allocated to early backers, node runners, and public auctions.


ALGO holders have the opportunity to participate in Algorand’s governance through voting on proposals that shape the network’s future development.


Algorand Smart Contracts

Algorand supports smart contracts, enabling the creation of decentralized applications (dApps) and the implementation of complex logic on the blockchain. Algorand Smart Contracts (ASCs) focus on simplicity, scalability, and security for a variety of use cases.

Details about Algorand smart contracts

  • Algorand Standard Assets (ASAs)

    Create tokens, including fungible and non-fungible assets with ease, enabling diverse use cases.

  • Speed and Efficiency

    Benefit from low transaction fees and fast execution, ideal for applications requiring high throughput.


Algorand Wallet Options

Hodlezz app showcase

Algorand Wallet (official)

Simple and secure option for storing ALGO.

Pera Algo Wallet

Popular mobile wallet with added features like dApp interaction.

MyAlgo Wallet

Web-based wallet for easy access (now discontinued)

Ledger and Trezor

Hardware wallets for maximum security.


Ready to invest in Algorand (ALGO)?  Many centralized and decentralized exchanges offer ways to purchase ALGO. Here’s a breakdown of some popular options to help you find the best place to buy Algorand for your needs.

Best CEXs to Buy ALGO

  • Binance

    Top global exchange with high liquidity, various trading pairs, and often features ALGO.

  • Coinbase

    Popular and user-friendly exchange with a focus on simplicity and accessibility.

  • Kraken

    Well-respected exchange offering a good selection of cryptocurrencies, including ALGO.

  • KuCoin

    Global exchange featuring several trading pairs for ALGO, including ALGO/BTC and ALGO/USDT.

  • HTX (Huobi Global)

    Leading exchange with diverse crypto offerings, including ALGO.

Best DEXs to Buy ALGO

  • Tinyman

    Popular decentralized exchange built on Algorand for swapping various Algorand Standard Assets (ASAs).

  • Algodex

    Decentralized exchange on the Algorand network with order-book functionality.

  • Pact

    Decentralized exchange with a focus on liquidity pools and easy swaps.

Important Note: Always research and consider factors such as fees, security, supported fiat currencies, and regional availability before choosing an exchange. It’s recommended to compare multiple options to find the best way to buy ALGO that suits your specific needs.


How to track Algorand assets?

Monitor and capitalize all your Algorand assets from multiple sources with auto-synced data about coin prices, NFT floor prices, advanced analytics and custom asset based opportunities.

Hodlezz app portfolio data and features

7 easy steps to track and capitalize all your Algorand assets

Open your crypto wallet app or web extension

Algorand wallet instructions for Hodlezz app
Algorand wallet instructions for Hodlezz app

Select your Algorand public wallet address and copy it

Open the Hodlezz mobile app and create a portfolio

Hodlezz app portfolio instructions
Hodlezz app coin display

Select the settings icon in your portfolio

Select [Add connector] from the menu

Hodlezz app Portfolio menu
Algorand integration in Hodlezz app

Select [Algorand] for any Algorand compatible address

Choose a name for your connector and insert your public wallet address

Hodlezz app portfolio connector setup

Start tracking all your crypto assets now

Experience seamless management of your digital assets with Hodlezz: the premier app for real-time tracking and analytics of your cryptocurrencies and NFTs.