Algorand (ALGO) is a smart contract platform employing a variant of the Proof-of-Stake (PoS) consensus mechanism, termed Pure Proof-of-Stake (PPoS). The protocol was founded by Turing award-winning computer scientist Silvio Micali, also known for co-inventing Zero-Knowledge proofs, Verifiable Random Functions (VRF), and probabilistic encryption.

Algorand was founded in 2017 by computer scientist Silvio Mical, winner of the Turing Award in 2012. Algorand positions itself as a leap in intelligent contract blockchain technology. Micali, renowned for co-inventing zero-knowledge proofs alongside Shafi Goldwasser and Charles Rackoff, has been a pivotal figure in cryptography.