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Algorand (algo) has benefited from the general sentiment in the cryptography market as it registers significant profits over long periods of time. Cryptocurrency has been on the rise since the end of 2022 and may be on track to earn more.
At the time of writing, algorand (algo) is trading at $0.24 and has lost 2% in the last 24 hours. During the preceding seven days, the cryptocurrency saw a decrease of 3% while recording a profit of 40% in the last month.
The founder of Algorand did. The list of the most important crypto initiatives.
According to a recent report, Algorand founder Silvio Micali s one of the top “2023’s crypto characters to watch.” The computer scientist is one of the investors of the zero-knowledge proofs (zk Proof) technology which is widely accepted in the blockchain space and one of the pillars of its privacy settings.
Micali has been a faculty member of the Massachusetts Institute of Technology (mit) in the Department of Electrical Engineering and Informatics since 1983. As well as zk proof, micali studied verifiable random functions and is the co-inventor of probabilistic encryption.
According to the report, Micali was awarded the turing prize known as the "Nobel Prize for Computer Science", the Godel Prize, and other honours. In this sense, the report asserts that micali and the Algorand network have the background and capacity to push crypto space into a new era of adoption.
Over the next decade, Micali believes that only blockchains that can process fast deals will remain with high adoption rates. This theory is part of the long-term value proposition for Algorand, its founder said:
As soon as blockchain becomes used for transactions, the few blockchain companies that are really able to do very low-cost transactions, they'll come up, from where I stand. As traditional finance begins to integrate blockchain, the blockchains that are actually being used massively and transactionally will accelerate.
Founding algorithm on radar with it?
In addition to micali, the report rated vitalik buterin, the ethereum inventor, and adam back, blockstream's CEO. That is the point of the report, Recent years in crypto have been led by "moguls" by noisy personalities with limited technical experience, like the founder of the crypto ftx swap bankruptcy, samb bankman-fried.
Thus, the industry could look upwards at buterin, backward, and micali like the new faces of the crypto industry. Unlike sbf and others, they could "shake things up" and enable the industry to make the transition from its current state of crisis.
