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NXT, the first and original 100% pure POS coin - since 2013

Algorand Accused of Stealing NXT’s Claim to Be the First Pure PoS Blockchain

4 June

A war of words has erupted over Algorand’s repeated claims to be the world’s first pure Proof of Stake blockchain. As long-time industry observers know, that assertion isn’t remotely true, since enterprise blockchain Algorand only launched in 2017 and PoS has been around a lot longer than that.

The first blockchain to experiment with Proof of Stake was Peercoin, which debuted a hybrid PoW/PoS chain. However the accolade for first pure PoS chain, which Algorand have been so keen to claim, goes to NXT. The Proof of Stake chain launched in 2013 – four years before Algorand shuddered into life. It’s a fact that Jelurida co-founder and NXT core developer Lior Yaffe has been at pains to point out.

Algorand’s ‘First’ Is Not the First Such First

Businesses all over the world are guilty of claiming tenuous firsts in a bid to bolster their PR and impress readers. Normally they get away with it, but on this occasion Algorand have been caught bang to rights. Seeking justice, Lior Yaffe is determined to see that Algorand doesn’t get away with the falsehood it keeps perpetrating. And he’s not the only voice that’s taken the project to task for its marketing.

“The #algorand marketing machine has misleadingly crowned themselves as the "First Pure Proof of Stake Blockchain". A bold statement considering that #Nxt is the first project to introduce a working #PoS #Blockchain,” tweeted Yaffe, before highlighting how Algorand keeps emphasizing this falsehood in its press releases and website.

“I agree that I'm very confused by Algorand’s claim,” replied another Twitter user. “How can they market being the first pure PoS blockchain platform when it was invented years ago…” Fittingly, one of the Twitter accounts that joined the conversation, and sided with Yaffe, was named “JustPurePos.”

What Next for Algorand?


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