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Algorand’s fully decentralized protocol aims to solve the three main dilemmas of distributed ledgers like blockchain, namely scalability, security and cost. At Algorand, all transactions are final because a single block can reach the minimum number of committee votes required. The committee is a permanent circle of 1,000 members who decide on new blocks.
- Security: 1,000 randomly selected committee members
- Scalability: Extremely fast network thanks to structure and lottery
- Cost: The special Pure Proof of Stake
- Price: ALGO down over 90% since ATH in June 2019
- New Green C+Charge Coin Sets Benchmarks
What is Algorand?
The Algorand ecosystem strives to provide network participants with the development of smart contracts to represent assets and enable bridges between the worlds of traditional and decentralized finance. ALGO is the native cryptocurrency of the Algorand blockchain and which the decentralized protocol works without third-party monitoring.
Behind the project is the Algorand Foundation of Singapore, which monitors and promotes the development and funding of the project. A network without decentralized entities, such is the objective of Algorand. Algorand can be compared to Ethereum as a smart contract platform, but also shares similarities with Solana and Cardano. The benefits of better scalability, more security and decentralization are what matter most to users of the platform.
What influences the price of ALGO?
While many other cryptocurrencies are struggling and struggling in the current year conditions, the ALGO price has done better than average and its performance is impressive. The protocol offers decentralized, fast and cheap money transfers, its price influencing factors are found above all in the growing acceptance of decentralized financial systems.
For many experts, blockchain is the right technology to build a more efficient and integrative financial system. ALGO offers a way to address the three essential factors of Cost, speed and security in a fully decentralized protocol to unite. To do this, Algorand uses Pure Proof of Stake, a logic that makes it impossible for a small group of its participants to determine the fate of the entire system.
Algorand tokens are always available and are available for free in the wallet or are invested in the various financial instruments of the Algorand blockchain. The group responsible for validating transactions is called Algorand Committee and will be randomly selected anonymously. This aspect provides a high level of security and also affects the ALGO course.
Why is the ALGO course having so much trouble right now?
Investors may be worried or depressed looking at the price of the native Algorand Protocol cryptocurrency right now, as the price hasn’t been looking good since the summer of 2019 despite showing positive signs. In June 2019, the previous ATH was $3.24, but now over 90% of the value has been destroyed. According to our social sentiment analysis, the volume of social activity on Algorand’s communication channels has been declining since November 22 of this year.
Another factor could be that most of the assets are in the hands of investors and the retail volume is only around 25%. Retail volume is the share of retail investors in the coin’s total assets. And last but not least, kaggressive intervention, i.e. buying, by Algorand investors.
What alternatives are there in the crypto market?
Algorand is currently the 33rd best performing cryptocurrency by market cap. The crypto presales shown here are still a long way from that, but because of that they also offer extreme growth potential. Like C+Charge, the project dedicated to sustainability and, like IMPT, can be described as a green coin.
C+Charge rewards charging electric vehicles at special charging stations with the utility token $CCHG. C+Charge’s mission is to open the market for emission credits, also known as CO₂ certificates, and ensure a scarce supply in the market by burning the credits. The easily accessible payment system allows using the CCHG token to pay at charging stations.
Anyone who charges their electric vehicle receives the Goodness Native Token, GNT for short, with each charging process. All the driver needs is the C+Charge app for seamless connectivity. With C+Charge, blockchain technology arrives at charging stations and thanks to the increased use of the infrastructure, the supply network can be further extended. Drivers receive additional functions, such as the display of the waiting time until the next charging station is free again or the carbon credit tracker and the Navigator indicating the next free charging station.
Emission credits are increasingly becoming one of the main incentives for buying an electric car, as federal government subsidies continue to decline. with However, C+Charge now has the option to reward drivers for charging and all transactions are securely and transparently stored on the blockchain. Passive income is therefore possible if you start presales at C+Charge now.
C+Charge’s developer team has been verified by Coinsniper, which ensures safer trading. As a sustainable investment, C+Charge is worthwhile simply because it is committed to protecting our environment and the climate A. Similar to the IMPT, green coins are not focused on making the business profitable, but on the idea of overcoming together the climate crisis we are currently experiencing and which will accompany us for many decades to come.
Conclusion: Algorand is under pressure, apparently only big investors are holding onto their ALGO holdings. However, private investors are attracted to other markets, including crypto pre-sales like C+Charge. The blockchain project is dedicated to sustainability and offers drivers of electric vehicles a great opportunity to be rewarded for charging their car.
By issuing carbon credits, the Market adjusted to supply and demand and each user can also burn the credits or wait for the prices to rise and then resell them. Alt Altcoin ALGO is certainly a solid investment, but the price weakens and does not regain its former strength. At $CCHG, growth is the order of the day and the developer roadmap looks promising to jump in now and really make a difference.
The investment is speculative. When you invest, your capital is at risk. This website is not intended for use in any jurisdiction where the trade or investment described is prohibited and should only be used by persons and as permitted by law. Your investment may not be eligible for investor protection in your country or country of residence. So do your own due diligence. This website is provided to you free of charge, but we may receive commissions from the businesses we feature on this website.
About the Author: Stefanie Herrnberger works as a freelance speaker and writer. His many years of professional experience in the fields of blockchain, cryptocurrencies and NFT provide him with the ideal framework to report on news and developments in decentralized and central financial markets. Stefanie has been investing in cryptocurrencies herself for several years and therefore understands the challenges and opportunities for crypto traders.