blockchain platform allows users and developers to create novel uses of an existing blockchain infrastructure. One example is Ethereum, which has a native cryptocurrency known as ether (ETH). But the Ethereum blockchain also allows the creation of smart contracts and programmable tokens used in initial coin offerings (ICOs), and non-fungible tokens (NFTs). These are all built up around the Ethereum infrastructure and secured by nodes on the Ethereum network.

The number of live blockchains is growing every day at an ever-increasing pace. As of 2022, there are more than 10,000 active cryptocurrencies based on blockchain, with several hundred more non-cryptocurrency blockchains.

Blockchain is a chain of blocks that contain information. The data which is stored inside a block depends on the type of blockchain. For Example, A Bitcoin Block contains information about the Sender, Receiver, number of bitcoins to be transferred. The first block in the chain is called the Genesis block.

The blockchain is used for the secure transfer of items like money, property, contracts, etc, without requiring a third-party intermediary like a bank or government. Once data is recorded inside a blockchain, it is very difficult to change it.

The blockchain is a software protocol (like SMTP is for email). However, Blockchains could not be run without the Internet. It is also called meta-technology as it affects other technologies. It is comprised of several pieces: a database, software application, some connected computers, etc.

Algorand Wallet allowing you to freely interact with the Algorand blockchain. My Algo provides the simplest and most secure way to send and receive Algos and tokens, organize and track all your Algorand wallets, manage your assets and much more.

The Algorand Wallet lets you hold and transact with Algos and Algorand Standard Assets (ASAs). The wallet itself is made up of accounts, each with their own unique address, backup phrase, and assets. In order to create accounts and eventually transact, you’ll first need to set up the Algorand Wallet.

ALGORAND WALLET & ASA

This is very simple to understand

Go to your Playstore or AppStore

And search for Algorand wallet

Download…

Set up backup phrase

Algo is required for the wallet

Go to an exchange(I.e Binance, huobi, gate or KuCoin) and buy Algo

ASA(ALGORAND STANDARD ASSET)

The official name for assets on Algorand is Algorand Standard Assets (ASA). With Algorand Standard Assets you can represent stablecoins, loyalty points, system credits, and in-game points, E.t.c The Standard ASA for CHOICE COIN(297995609)

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