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Founded 2017
Headquarters Boston, Massachusetts
Products Blockchain
Twitter @Algorand
LinkedIn Profile
Facebook algorand/
Website Algorand Home
Blog Algorand Blog

Algorand Foundation is a Boston, Massachusetts, company that launched its blockchain mainnet on June 19, 2019. At the same time, it concluded a sale of 25 million tokens at a price of $2.40, raising $60 million.[1] The company's press release stated, "The Algorand Foundation is the first organization to conduct a fully transparent global auction on its own blockchain."[2] (Despite its "global" nature, the Algorand Foundation website states, "Please note that participation in auctions is not possible for the following excluded jurisdictions: United States of America and its territories, Canada, Democratic People's Republic of Korea, Cuba, Syria, Iran, Sudan, Republic of Crimea, [and] People's Republic of China . . ."[3])

In earlier fundings, Algorand had raised $66 million from Union Square Ventures and Pillar Venture Capital.[4]

According to Messari, an online cryptocurrency data and research news service, Algorand is the high transaction and settlement speed protocol for a permissionless blockchain.[5] Algorand Foundation founder, Silvio Micali, is an MIT professor and the 2012 winner of the Turing Award, and international prize for computer scientists.[6]