What is unique to the Algorand blockchain and digital currency?
Asked 4 years ago
Hello, I read that Algorand is one of the alternatives to Ethereum. What makes it different? Would you say it is better than Ethereum?
Courtney Blankenship
Tuesday, April 26, 2022
What distinguishes Algorand from Ethereum is its high throughput and advanced processing capacities – it is fast, cost-effective, carbon negative, and has advanced smart contract capacity. One thousand transactions per second (TPS) and five-second finality are the two primary features often attributed to Algorand.
In its simplest definition, Algorand is an open-source, decentralized network with a two-tier model and a unique variation of a Proof-of-Stake (PoS) mechanism that improves transaction speed and finality. The Algorand block rewards are distributed to every ALGO holder, giving them the potential to earn rewards instead of only block miners.
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