What is Algorand ? Is it the new Cardano ?

After Algorand announced it had raised more than $62 million in funds, Cardano Project Leader (ADA) Charles Hoskinson posted a tweet yesterday praising the blockchain project which he called “real competition” to Cardano.

Algorand is a project created by Silvio Micali, a professor and cryptographer at MIT, who seeks to create a platform that solves the famous “blockchain trilemma:” Ensuring a decentralized blockchain, secure, scalable and interoperable without sacrificing quality or efficiency in any of its aspects.

One of the common denominators of both projects is the theoretical approach used to develop them. With their two leaders having a relevant academic background, the similarities were to be expected.

Besides, Algorand shares with Cardano the reliance on PoS as a consensus mechanism to lower transaction times, energy consumption and provide tools that facilitate the technological evolution of the blockchain.

Micali’s team is not in a hurry. Like Cardano, they are focused on developing a quality project without yielding to the pressures of a community eager to see a mainnet launch as quickly as possible. However, it is important to note that Algorand has a roll-out planned for the end of 2018.

Check Out My Crypto Reviews:
-VeChain: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-vechain
-Cardano: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-cardano-ada
-Basic Token Attention: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-basic-token-attention-bat
-Hacken: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-hacken-hkn
-QuantStamps: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-quantstamp-qsp