Technological Breakthroughs Dislodge Entrenched Beliefs.
Many long-held beliefs are often unchallenged and not true; they are simply a resignation to the status quo. At Algorand Technologies we take nothing for granted. You won’t find us defaulting to artificial limitations. Instead we develop technological breakthroughs that free our industry from traditional thinking, accelerating innovation for the benefit of everyone.
Below are just a few examples that were developed for the Algorand public chain. These technological breakthroughs can also be applied to permissioned chains, and achieve faster speeds and greater performance with the right hardware and connections.
Early blockchains were wasteful of energy and rightfully criticized for being so. Today, more blockchains are energy efficient, but at the expense of decentralization.
By contrast, Algorand is both green and decentralized by design. A key technology to achieving our green decentralization are Algorand’s trademark Verifiable Random Functions. This technology enables everyone to securely rely on the output of a function chosen at random. Even if a single party chooses the function, and then evaluates it on a designated input, the output is guaranteed to be random and correct whether or not the single party is honest or malicious. Randomness is a powerful approach to fend off malicious actors, so long as you, or somebody you trust, will “flip the coins”. Verifiable Random Functions replace personal trust with cryptographic trust and are ideal for blockchain applications. We are proud to have pioneered this technology which is now used by other blockchains as well.