Algorand is a proof-of-stake blockchain and cryptocurrency with post-quantum Falcon signatures. Algorand's native cryptocurrency is called ALGO.
The SEC has declared in March 2026 that ALGO, among others, is a digital commodity, after years of regulatory uncertainity and debate.
Algorand was founded in 2017 by Silvio Micali, a computer scientist and professor at the Massachusetts Institute of Technology (MIT).
Algorand's test network was launched to the public in April 2019.
The main Algorand network was officially launched in June 2019.
Algorand can only be forked intentionally through soft forks and source code forks.
Algorand uses a Byzantine agreement protocol that leverages proof of stake, which contributes to its energy efficiency.
The Algorand Foundation funded an article which claims Algorand's overall protocol frame-work is sound under certain conditions.
The core principle of Algorand consensus is the cryptographic "self" sortition. The sortition procedure runs locally and privately, on each node of the network participating in the consensus protocol, without a centralized coordination. The goal of the sortition algorithm is randomly selecting a subset of users participating in the consensus protocol (committees) ensuring two properties: the sortition's result can be easily verified once it is published, while it can not be determined ahead of time by malicious adversaries. The number of selected users in the sortition (committee size) is defined as a statistical expectation on the outcome of a pseudo-random process. The likelihood that a given user will be selected (in the committee) is influenced by the number of ALGO tokens held by that user (the stake)
Algorand's consensus steps are: block proposal, proposals filtering (soft vote) and committing the block (certify vote).
In the first step the cryptographic sortition selects a subset of users (proposal committee) which assemble and propose a block for the next round of the protocol. At the end of the step there will be a few block proposals (the protocol is tuned with a statistical expectation of 20 proposals) with different random priorities. After determining if a user is on the proposal committee, that user can build a proposed block and gossip it to the network for review/analysis during the second phase. The user includes the result of the VRF (h) and cryptographic proof (ðÂÂÂ) in their block proposal to demonstrate committee membership.
In the second step the nodes in the networks wait for an adaptive period of time (ðÂÂÂ), measured by nodes' local clocks, to be sure that the block proposals gossiped in the previous steps have been observed.
A new cryptographic sortition selects a subset of users (soft vote committee) to vote and reach a Byzantine Agreement (called "BA*") on the proposal with highest priority. When users have determined that they are in this second-phase voting committee, they analyze the block proposals they have received (including verification of first-phase committee membership) and vote on the highest priority one.
Once a threshold of votes is reached in the previous proposals filtering step, the third and last step of the protocol begins. A new cryptographic sortition selects a subset of users (certify committee) to vote and reach a Byzantine Agreement on the content of the proposed block with respect to the state of the ledger (e.g. the block does not contain double spending, overspending or any other invalid state transition between accounts).
If the certify committee achieves consensus on a new block, then the new block is disseminated across the network and appended to the ledger.
The Algorand consensus protocol privileges consistency over availability (CAP theorem). If the network is unable to reach consensus over the next step (or block), within a certain time, the protocol enters in a recovery mode, suspending the block production to prevent forks (contrary to what would happen in blockchains based on the "longest-chain principle", such as Bitcoin). The Algorand team claims the recovery mode of the protocol ensures that the block production resumes eventually, with no need of reconciliations or reorganization, if a Byzantine Agreement is reached again.
An Algorand network is a distributed system of nodes, each maintaining a local state based on validating the blockchain and the transactions therein. Nodes are spread geographically, communicating with each other over the Internet. The integrity and the consistency of the global network state and distributed ledger is maintained by the consensus protocol. Algorand nodes communicate through message gossiping (broadcasting) either in peer-to-peer or via relay nodes (which facilitate efficient broadcasting with minimal message hops and low latency).
On November 3, 2025, Algorand executed the first post-quantum transaction on its mainnet using NIST-selected Falcon signatures, demonstrating that quantum-resistant signatures can now protect real digital assets on a live public blockchain. The Google Quantum AI whitepaper (Babbush et al., 2026) notes that Algorand has also made Falcon signature verification available as a TEAL primitive to enable development of quantum-safe smart contracts, and supports native protocol-level key rotation ("rekeying").
2026:
Tokenized Abrdn money market funds as ASAs on Algorand, reducing settlement from T+2 to instant.
Tokenized U.S. Treasury bill on Algorand with no minimum investment; first atomic swap was $2M USDC.
Quantoz EURD: MiCA-compliant euro stablecoin on Algorand, processing transactions at a fraction of Ethereum costs.
In 2025 Enel, Italian energy giant exploring tokenization of solar panel infrastructure on Algorand for fractional ownership.
The Algorand blockchain had its first tokenized money market fund launch in June 2024.
In 2024, CNBC-TV18 reported that Algorand's blockchain was being tested for use in a digital identification to help women in India access public health programs.
in 2023 Hesab-pay, Afghanistan's leading digital payment app is built on Algorand, processing $1B in on-chain volume in 2024, handling over 30% of the country's electricity bill payments, and delivering aid from WFP and UNHCR to over a million people.
In 2022, Algorand's blockchain was used by Robert Irwin and the Australia Zoo for a series of NFTs.
In January 2023, Fideiussioni Digitali, Italy's initiative to reduce fraud in bank and insurance guarantees, selected the Algorand blockchain for a project to address fraudulent bank guarantees. In February 2023, the Algorand Foundation urged users to withdraw funds from the blockchain's native cryptocurrency wallet MyAlgo, as it had been hacked for $9.6 million the week prior.
In 2021, Italia Olivicola, Italy's largest olive and olive oil producers' organization, partnered with Euranet to implement blockchain technology based on Algorand to attempt to address olive oil adulturation. SIAE, the Italian Society of Authors and Publishers, also announced a project on copyright management using Algorand in the same year.
In 2019, Algorand became a partner of World Chess.