Introduction
Algorand was founded in 2017 by Silvio Micali. It has its headquarter in Boston, U.S.A.
Algorand is positioned to address the blockchain’s scaling challenges through rapid and efficient user consensus, enabling even the smallest transactions, regardless of transaction volume or number of users.
Algorand uses cryptographic sortition to select users to propose blocks for a given round. When a block is proposed to the blockchain, a committee of voters is selected to vote on the block proposal. If a super majority of the votes are from honest participants, the block can be certified.
Algorand Virtual Machine (AVM) supports smart contracts with Turing-complete languages, larger program sizes, more state, has many new additional opcodes, and offers developers the ability to use functions, loops, and recursion.
Mission
The mission of Algorand is threefold:
- Global trust through decentralization
- Simple designs that drive adoption by billions of people
- Elegant technology that eliminates barriers to prosperity for all
Why Algorand?
Algorand removes the technical barriers that for years undermined mainstream blockchain adoption: decentralization, scale, and security. Now one can build on a stable platform you trust.
Funding
Algorand has raised a total of $126M in funding over 11 rounds and is funded by 19 investors.
Below, are the details of the different rounds of funding received by Algorand.
Funding Round | Money Raised | Number of Investors | Lead Investors |
Secondary Market | - | - | - |
Initial Coin Offering | - | 1 | - |
Venture Round | - | 1 | Borderless Capital |
Initial Coin Offering | $60M | - | - |
Seed Round | - | 1 | - |
Seed Round | - | 1 | - |
Venture Round | $62M | 8 | - |
Venture Round | - | 1 | - |
Seed Round | $4M | 2 | Pillar VC
Union Square Ventures |
Seed Round | - | 1 | - |
Acquisitions
Algorand has made no acquisitions yet.
News & Media
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