Algorand price today, ALGO to USD live price, marketcap and chart

ALGO is the native coin of Algorand and a key component of its network topology. The benefits provided to validators for creating blocks are divided and dispersed among all coin holders, rather than being awarded just to block producers, as part of Algorand’s unique protocol architecture.

The distribution of rewards occurs around every 10 minutes. It is meant to encourage people to join the Algorand staking platform and smoothen the route to decentralization.

To make things easier, users are not required to lock their coins as part of the block manufacturing and validation process. If they want to earn incentives, they may simply keep ALGO its official non-custodial wallet, named MyAlgo Wallet. In this regard, Algorand has reached near automation, since stakeholders can hold ALGO while also supporting the network.