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Algorand was founded by computer scientist and Massachusetts Institute of Technology (MIT) professor Silvio Micali. Officially launching in June 2019, Algorand is a scalable, secure, and decentralised digital currency and smart contract platform, using a variation of Proof-of-Stake (PoS) called Pure PoS (PPoS). Unlike other PoS blockchains, PPoS-Algorand does not reward, nor does it put validator or user funds at risk of being slashed.

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