The ALGO token is the native cryptocurrency of the Algorand blockchain. Here's a quick definition:
ALGO is a digital asset used to pay for transactions, earn rewards, and participate in governance on the Algorand network, a high-speed, secure, and scalable blockchain platform designed for decentralized applications and finance (DeFi).
Key Points:
Blockchain: Algorand
Ticker Symbol: ALGO
Purpose: Transaction fees, staking, governance voting
Consensus Mechanism: Pure Proof-of-Stake (PPoS)
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