latest update “Algorand (ALGO) Trading is Coming to Kraken on January 22”

On Tuesday, January 21, 2020, 01:20:24 PM EST, Kraken <[email protected]> wrote:

Hi ,

We are pleased to announce that Algorand (ALGO) will be listed on Kraken starting January 22.

What is Algorand (ALGO)?

Algorand is a new proof-of-stake blockchain with a native cryptocurrency (ALGO) that offers its users the ability to launch tokens and decentralized applications.

Created by Silvio Micali, a professor at MIT and Turing Award winner, Algorand differentiates itself with a design that lowers costs for users seeking to participate in its operation.

By owning 1 ALGO, users are able to participate in functions essential to Algorand’s operation, including validating transactions and adding new blocks to its blockchain.

Algorand provides users with at least 1 ALGO (in a wallet they control), a share of the cryptocurrency it creates programmatically each time a block is added to its blockchain. Note: For the time being, you will not receive these rewards for the ALGO you keep directly on Kraken.

Algorand’s technology randomly designates block producers, as opposed to having users compete for the opportunity to post transactions. This design is intended to minimize the likelihood its blockchain will split or fork.

Notable investors (including Union Square Ventures) have already purchased ALGO tokens in advanced sales designed to spur project development.

The Algorand blockchain officially went live in June 2019.

Project website:

What time will funding and trading start?

Funding: Kraken will enable deposits and withdrawals for ALGO at approximately 14:30 UTC on January 22

Trading: The first trades will start shortly after funding is enabled as sell orders cannot be placed until deposits clear (see the required confirmation times for deposits here)

Updates will be posted on the status page near launch time

To learn more about the listing, check out our blog post.

Thank you for choosing Kraken, the trusted and secure digital asset exchange.

The Kraken Team

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