$1.08 -0.23%
ALGO · 1w

[EILI5] Algorand

Please someone, explain these question like I am 5 years old. My knowledge of crypto is limited and I'd like to invest but have major questions before making such a serious (to me) investment. I'm not educated in finance and work a blue collar job so excuse me if these questions are outright wrong or pointless. 1. What makes this different from other stablecoins? 2. In the end, won't the only successful coin be whichever mass adoption/market share (not based on quantity but based on amount traded and the stability of coin). 2. The tech side of it. I've watched a few YouTube videos on Algo and is it realistic to think that these applications will catch on with the general public and not just tech minded individuals? My fear is an investment now would take a very long time to pay off. And I'm not looking for a quick investment but the mass adoption of this technology seems like it's quite some time off. 3. The price. How can the price be dictated by the market if, if the creators of Algorand are injecting coin into supply? 4. The wallet system How does this work? I've heard some on this thread talk about 'staking them but am unaware of what that means. Again, I'm not educated in finance so I apologize if some of these questions are stupid and or outright wrong.
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ALGO -0.23% · · 20h

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[email protected] points out the high speed and minuscule transaction fees of $USDC on Algorand in his new @CoinDesk article, ‘Where Value Is Going in Blockchain Networks.’ Check it out 👇