Algorand
$1.91 1.39%
ALGO · 2w

Node Runners were lent 99% of the algorand they put online.

For context [https://www.reddit.com/r/AlgorandOfficial/comments/q2cpc0/what\_account\_is\_this/](https://www.reddit.com/r/AlgorandOfficial/comments/q2cpc0/what_account_is_this/) The exchange Huobi is run by Tsinghua University and ran nodes. They have been returning 99% of the algorand they held. This was done to prevent an early days financial attack, if they only had a small amount of algorand online, an adversary could attack the chain by buying 1/3 of the online algorand and take over the protocol. By having a large amount online Now 1/3 of all algo is owned in retail hands, us, we now have enough to secure the chain with real value, if we put our algorand online on relay nodes. The rewards for helping algorand just significantly increased. This has been a conspiracy but one in favor of the public. I have known most of this for months. I didn't want to spoil the plan as it is in all of our interests not to. I was quite shocked when I found out. If you find your head spinning speak to someone about it. When you have understood this, think about what will happen to Algorand Inc's Algorand when enough of the public has put their algorand online. The problem that was solved is the 'distribution problem' read about what happened in the early days of bitcoin and ethereum for more context. An example of what went wrong, early investors made so much money one bought and crashed a Lamborghini at a bitcoin conference. Don't do that please.
Go to self.AlgorandOfficial
Recent news
No posts found