Want A Blockchain Crypto Worth Following? — Hint: It’s Not Ethereum!
I’ve admittedly been fascinated with some developments in blockchain and, specifically, the growing cryptocurrency space. Though only time will tell how this digital currency landscape will ultimately play out, and further still, how blockchain technology will ultimately change our lives.
I promise this will not be a deep dive under the hood of this potential game-changing crypto, nor do I intend to make this an investment piece that recommends putting money into Algorand, though one is free to do just that. I only want to demonstrate how this project may be worthwhile and possibly make 2021 and beyond even better for the world.
If you’re not really acquainted at all with Blockchain or digital currencies, I’d highly recommend this quick read right here on Medium that covers it succinctly:
That said, let’s dive right in!
I want to call attention to one smaller “altcoin” (altcoin: defined crudely as any non Bitcoin crypto) with some rather strong potentiality to do real good in the world: Algorand.
This specific altcoin project is very research-driven, has diverse leadership, a deep development team, and has been making some serious partnerships lately¹. Moreover, Algorand (Algo) was founded by Silvio Micali, a highly distinguished MIT computer scientist and past winner of the distinctive Turing Award.
In fact, if you want to get a closer look at the essential technological drive behind Algorand, you needn’t go further than this blog, written by Micali last year, that sums up things nicely:
https://www.algorand.com/resources/blog/algorands-core-technology-in-a-nutshell
Okay, enough gushing about Algorand’s tech! Right now, I’m most excited about their recent partnership with ClimateTrade, a Blockchain forward carbon offsetting company based in Valencia, Spain.
This is an exciting partnership and has the potential to be a real-world, green-forward use case. ClimateTrade offers services to several other companies, which can then use the same underlying blockchain technology. And the added scalability of Algorand’s network will allow for extremely efficient transactions and provide transparency and traceability, which is exactly what you want . That is, for companies to engage in smart, accountable efforts to offset carbon emissions.
Perhaps most importantly, this partnership sets a precedent for other green-initiative companies to follow suit and get the ball rolling by leveraging the power of blockchain.
While there are other crypto projects out there showcasing impressive tech and pursuing highly ambitious plans for the future, I can honestly say I’m most optimistic about this Algorand.
Keep your eyes and mind open…
