What is Algorand?

Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for ‚The next generation of financial products. Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.