Algorand is a public chain project initiated by MIT professor and Turing Award winner Silvio Micali. The Algorand project uses pure Proof of Stake, VRF random algorithm and encryption lottery mechanism to innovate and find solution in blockchain impossible triangle. To create a borderless economy and opportunity.
Through the VRF and encryption lottery mechanisms, Algorand will not disclose its node identity till consensus information announced, not only just improved security, but also combine POS to determine block generation and voter randomly, further strengthen decentralization and improve performance.
Estimated algos to be injected into circulation over the first 5 years (via Dutch auction) 3.0 billion
Estimated participation rewards (distributed over time) 1.75 billion
Relay node runners (distributed over time) 2.5 billion
Algorand Foundation 2.5 billion
End user grants (distributed over time) 0.25 billion
Algorand team has MIT background, the founder Silvio Micali has won the Turing Award, and the R&D team has extensive experience in cryptography, computers, software .
Algorand Director Jamie Goldstein is the founding partner of Pillar Ventures
Algorand Director Albert Wenger is Managing Partner of USV