Algorand
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ALGO · 2w

Please help a dummy better understand the Algorand consensus mechanism!

Please let me try to sum up what I grasped and let me ask some questions: In the Algorand network there are relay nodes organizing the communication between nodes and non-relay nodes that can connect to relay but not to other non-relay nodes. Relay nodes should not but could take part in the consensus while non-relay nodes can take part. Both node types could act as consensus participation nodes when hosting participation keys of online accounts such as my own. Does this mean my account, controlled by my Algorand wallet, is connected to a participation node? And the participation node knows the amount of Algo in my account, determining the probability for getting selected for consensus? Who does then take part in the consensus? Is it the participation node on behalf of my account? I am confused by the Micali quote that Algorand is fully decentralized as every Algo takes part in the consensus. Further: Is it correct that the current participation rewards have absolutely nothing to do with the consensus and that they are permanently calculated and completely equal for each Algo? Sorry for so many questions, I‘m just trying to get my head around things I am finding hard to understand.
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