Announcing Algorand Auctions

CoinList
CoinList
Jun 6 · 4 min read

On June 19, 2019, the Singapore-based Algorand Foundation will hold the first in a series of Dutch auctions. These auctions will allow Algos, the native token of the Algorand platform, to enter circulation and will mark the launch of the Algorand network.

You can register for the auctions with your CoinList account
(See participation restrictions below)

CoinList is proud to be working with the Algorand Foundation to support these auctions and the launch of the Algorand network. Not only are the Algorand team and technology exceptional, but the Dutch auctions represent an innovation in token distribution.


Fair and Transparent Token Distribution

Fairness and transparency are core tenets of the Algorand community. In order to achieve these values, the Algorand Foundation chose to conduct its distribution through a sequence of Dutch auctions over the course of the next few years.

Fairness — The price of the Algos will not be determined by the Algorand Foundation, but rather by supply and demand. Ultimately the market will decide the price of Algos via auctions, and participants can choose the price at which they are comfortable participating. Moreover, participants with successful bids in a single auction will pay the same clearing price, regardless of the price of their original bid. This ensures fair access and pricing for all potential users.

Transparency — All auction actions will be conducted on the Algorand blockchain to ensure full transparency and auditability. Every user will have access to the same publicly available information.

Learn more about the details of the first auction and the auction mechanics.


Algorand’s Pure Proof of Stake Blockchain

Algorand was founded by Turing Award Winner, Silvio Micali, and developed by a stellar team of technology experts, business leaders, and renowned academics including CEO Steve Kokinos, and COO Sean Ford, and is backed by a diverse group of investors including USV, Multicoin, Pillar, Metastable, Foundation Capital, China Merchants Bank, and many more.

The Algorand Foundation conducts research and helps govern the network. Their research team is led by Dr. Tal Rabin, former Head of Cryptography at IBM and a 2018 Forbes World Top 50 Women in Tech.

One of Algorand’s core innovations is their pure proof of stake blockchain designed to remove the technical barriers that have undermined mainstream blockchain adoption. They aim to create a blockchain with decentralization, security, and scalability.

Decentralized & Permissionless — Block proposal is not limited to a delegated set of users or a fixed committee, and the Algorand platform does not impose significant technical or capital requirements to participate in consensus. All online users are treated the same and any user who possesses Algos are automatically eligible to participate in block consensus.

Secure — All users are randomly, secretly, and continuously selected to participate in the Algorand consensus protocol. Before they participate, no one knows who the users are, and once they participate, it is already too late for an attacker to benefit from attacking them. Even if the network is partitioned into multiple non-connected networks, Algorand’s blockchain does not fork and users’ balances remain secure.

Scalable — Algorand’s Byzantine agreement protocol is highly efficient. The Algorand protocol scales to billions of users and sustains a high transaction rate — without incurring significant cost to participating users. All transactions are final in Algorand. Once a block appears, users can rely on the transactions it contains immediately, as they can be confident that the block will forever be part of the chain.

For more information on Algorand, you may be interested in Algorand Core Technology in Nutshell by Algorand Founder, Silvio Micali or Success and Momentum of Algorand, the Platform & Technology for the Borderless Economy.

Registration for the auctions is open now »


Participation restrictions:

Please note that participation in auctions is not possible for the following excluded jurisdictions: United States of America and its territories, Canada, Democratic People’s Republic of Korea, Cuba, Syria, Iran, Sudan, Republic of Crimea, People’s Republic of China, and jurisdictions in which the auctions and/or trading of the tokens themselves are prohibited, restricted or unauthorized in any form or manner whether in full or in part under the laws, regulatory requirements or rules in such jurisdiction.


Legal disclaimer:

This post is being distributed by Amalgamated Token Services Inc., dba CoinList. CoinList operates CoinList Services LLC, a technology company that offers compliance and technology infrastructure solutions for token issuers. Nothing in this post shall constitute or be construed as an offering of securities or as investment advice or investment recommendations (i.e., recommendations as to whether to enter or not to enter into any transaction involving any specific interest or interests) by CoinList, CoinList Services LLC or any of its affiliates or a recommendation as to an investment or other strategy.

While CoinList uses reasonable efforts to obtain information from token issuers which it believes to be reliable, CoinList makes no representation that the information or opinions contained in this post are accurate, reliable or complete. The information and opinions contained in this post are subject to change without notice. This post contains external links to third-party content (content hosted on sites unaffiliated with CoinList). As such, CoinList makes no representations whatsoever regarding any third-party content/sites that may be accessible directly or indirectly from this post. Linking to these third-party sites in no way implies an endorsement or affiliation of any kind between CoinList and any third-party.

CoinList

Where the best digital assets companies manage their token sales, airdrops, and online hackathons

CoinList

Written by

CoinList

Where the best digital assets companies manage their token sales, airdrops, and online hackathons

CoinList

CoinList

Where the best digital assets companies manage their token sales, airdrops, and online hackathons

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade