Algorand

DLT Technology
Algorand header

Algorand

DLT Technology

Scalable, secure and decentralized digital currency and transactions platform

United States, Boston
$126M
Total amount raised
2017
Year of establishment
Active
Status

About

Hi we’re Algorand!


Algorand is an open-source public blockchain that aims to solve the blockchain trilemma. The blockchain trilemma states that any blockchain can offer only two of the three following aspects: security, scalability and decentralisation.

By using a consensus algorithm called PPoS (Pure Proof of Stake), Algorand claims to have solved this trilemma, offering all three aspects: security, scalability and decentralization.

Algorand is founded by MIT professor and Turing Award winner Silvia Micali. The company has raised 66 million USD in funding from venture capital firms, as well as another 60 million USD in an ICO round in June 2019.

Key objective

To address the blockchain’s scaling challenges through rapid and efficient user consensus, enabling even the smallest transactions, regardless of transaction volume or number of users.

Slogan / Motto

Technology that enables frictionless finance

Use cases

Scaling Solutions
Enterprise Service
Decentralized Applications
Blockchain Development Platform

Team

Team members

Silvio Micali Founder

Responsibilities

Silvio Micali has been on the faculty at MIT, Electrical Engineering and Computer Science Department, since 1983. "Silvio’s research interests are cryptography, zero knowledge, pseudorandom generation, secure protocols, and mechanism design and blockchain. In particular, Silvio is the co-inventor of probabilistic encryption, Zero-Knowledge Proofs, Verifiable Random Functions and many of the protocols that are the foundations of modern cryptography.

In 2017, Silvio founded Algorand, a fully decentralized, secure, and scalable blockchain which provides a common platform for building products and services for a borderless economy. At Algorand, Silvio oversees all research, including theory, security and crypto finance.

Silvio is the recipient of the Turing Award (in computer science), of the Gödel Prize (in theoretical computer science) and the RSA prize (in cryptography). He is a member of the National Academy of Sciences, the National Academy of Engineering, the American Academy of Arts and Sciences and Accademia dei Lincei.

Silvio has received his Laurea in Mathematics from the University of Rome, and his PhD in Computer Science from the University of California at Berkeley.

W. Sean Ford Chief Operating Officer

Responsibilities

Sean is the COO of Algorand, responsible for go-to-market execution and operations including product management, engineering, marketing and global community development. Sean joins Algorand from LogMeIn where he was the Chief Marketing Officer responsible for global marketing strategy, product marketing, ecommerce, communications, brand leadership, and demand generation. He also ran the Integration Management Office for LogMeIn's acquisition of Jive Communications in early 2018. An experienced operations and go-to-market executive, Sean worked at Avid Technology where he led worldwide marketing strategy and operations as a member of the company’s Executive Leadership Team. Sean has also held several executive leadership roles including CMO and COO of Zmags, CMO of Syncsort, and as vice-president of Global Business Unit (GBU) marketing at Oracle reporting to the CMO where he was responsible for Oracle’s vertical industry applications worldwide.

At the start of his professional career Sean spent seven years as a senior strategy consultant with Monitor Group, and in 1999 he co-founded Upromise, Inc. where he was vice-president of product management and product marketing.

Sean earned a Bachelor of Arts in English from Williams College and a Masters in Business Administration from Harvard University Graduate School of Business.

Steve Kokinos Chief Executive Officer

Responsibilities

Steve is the CEO of Algorand and responsible for overall business vision and strategy.

Steve is a serial entrepreneur, most recently co-founder and Executive Chairman of Fuze, where he was responsible for corporate strategy. Under his direction, the company transformed the way enterprises view collaboration as a key driver of business visibility, process improvement, and results. Today, Fuze has over 700 employees servicing over 1500 enterprise customers around the world.

Prior to Fuze, Steve was co-founder of BladeLogic, Inc., a recognized leader in the data center automation market with a Fortune 500 client list including GE, Time Warner, Microsoft, Cable & Wireless, Walmart, and Sprint, among others. Bladelogic held a successful IPO and was later acquired by BMC Software for ~$800M.

Prior to BladeLogic, Steve was co-founder and CEO of Web Yes, Inc., an early market leader in the Web hosting and application service provider arena that provided infrastructure services for Sun Microsystems, Netscape, and Lycos, among others. Web Yes was acquired by Breakaway Solutions in 1999.

Customers / Partners

Products

Tokens

Algorand
Algorand
($ALGO)
Type
Platform tokens
Token standards
ASA
Price
$1.47
Market Cap
$4,366,182,898.00

Funding

Received funding
$126,000,000
Total amount raised
5
Rounds
14
Total amount of investors
Amount Raised
Funding type
Funding round closing
Investors
$60,000,000
ICO/Token Sale

N/A
Seed
ICONIUM
$62,000,000
Venture
Union Square Ventures
NEO Global Capital (NGC)
Lemniscap
Kingsley Advani
VLane Capital
Polybius Foundation OÜ
N/A
Venture
Alumni Ventures Group
Strawberry Creek Ventures
Kosmos Capital
AVG Blockchain Fund
Castor Ventures
$4,000,000
Seed
Pillar
Union Square Ventures

News

What is Algorand? A Speedy, Scalable Platform for Dapps

Security, scalability, and decentralization often don't mix. Algorand is hoping to be the solution to this blockchain scalability trilemma.


11 days ago


Research
Algorand

Algorand pledges carbon-negative blockchain

Algorand and ClimateTrade are working on a sustainability oracle that would drive down carbon emissions.


19 days ago


General news
Algorand

Vesta Equity and Algorand breathe new life into real etate tokenization

Vesta's new platform gives homeowners the ability to convert equity into digital assets that can then be sold to accredited investors without compounding interest.


a month ago


Product update/release
Algorand

Balancer Ventures Outside Ethereum, Aims to Be Algorand's Uniswap

DeFi projects continue to look for proof-of-stake blockchains that can manage a lot of transactions with lower costs.


a month ago


Product update/release
Ethereum
Algorand
Uniswap

Ethereum-based DeFi protocol Balancer to expand on Algorand

Decentralized finance (DeFi) protocol Balancer, built on Ethereum, is set to expand on Algorand. The post Ethereum-based DeFi protocol Balancer to expand on Algorand appeared first on The Block.


a month ago


Product update/release
Ethereum
Algorand