Algorand Foundation raises $60 million
Algorand Foundation raises $60 million through blockchain-based auction. The Algorand platform is the first public, permissionless pure proof-of-stake blockchain protocol that solves the “blockchain trilemma” of achieving scalability, security and true decentralization all at once. Performance on the Algorand platform exceeds 1000 transactions per second (TPS) with a latency of less than 5 seconds, putting it on par with the throughput of major global payment networks without compromising security or decentralization.
“We see this auction as a first step, but an important step, in a long journey toward a fairer world, where everyone has the ability to participate in economic prosperity,” said Dr. Tal Rabin, Head of Research for the Algorand Foundation. “The Algorand platform is decentralized by design to ensure broad and global participation.”
I expect a lot of attention on blockchain and cryptocurrency after the unveiling of Facebook Libra.
*Some contents from copyright-free press release
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