Recently, you could find many new tokens and coins on our exchange. We held a #MetaverseWeek during which we introduced four leaders of this trend to our exchange. These were, of course, Decentraland, ApeCoin, Gala Games and Sandbox. This week we heated up the sports excitement of the ongoing World Cup through the Chiliz listing. So it’s time for yet another news, namely?
New blockchain on Kanga Exchange, Algorand. This chain aims to expand the potential uses of cryptocurrencies by increasing the speed of transactions and reducing the time it takes for a transaction to be recognized as finalized.
What is Algorand?
Algorand platform and its cryptocurrency were founded in 2017 by Massachusetts Institute of Technology professor and well-known cryptographer Silvio Micali.
Algorand (ALGO) is both a cryptocurrency and a blockchain platform. Like major payment processors such as Mastercard and Visa, Algorand’s platform is designed to quickly process large volumes of transactions. In addition, Algorand can host other cryptocurrencies and blockchain-based projects, making it a direct competitor to Ethereum. ALGO, the platform’s native currency, is used to secure Algorand’s blockchain and pay for transactions on the platform.
Algorand is an open-source blockchain. This means that anyone can view and contribute to the platform’s code. Algorand uses an operational protocol called pure proof-of-stake (PoS), which recruits network validators from a pool of users.
Kanga Exchange development with Algorand
We wanted to introduce a blockchain, which has a lot of potential and growth opportunities, to the users of our exchange. At the moment you will find ALGO cryptocurrency, the native currency of the blockchain, on our exchange.
In addition to opening the ALGO market, we have also launched staking of Algorand native token, which is available both on our mobile app – Kanga Wallet and on our website.
From now on you can trade ALGO tokens on our exchange in a pair to Tether.
Author: Piotr Szopa