Proof-of-Stake Blockchain network Algorand has announced that strike rewards are now live and offer real-time block sensors to validators.
The Algorand Foundation stated that the program follows the recent upgrade of the consensus mechanism of the network, which was used earlier this week. According to the foundation, the minimum rewards have been set at 10 algo per block, whereby validators in each block also receive 50% of the transaction costs. However, the block rewards will decrease by 1% after every million blocks.
Algorand (Algo), a low-1 blockchain that was launched in 2019, is one of the cryptocurrencies that have had a considerably upward momentum in recent months. Although the price has withdrawn to an important level, figures such as the number of active addresses, network transactions and costs on a positive trend.
The market for crypto strikes has grown rapidly since the merger of Ethereum in 2022, with important networks such as Ethereum, Solana, BNB Chain and Base.
According to Defillama, Algorand has currently secured more than $ 213 million through various protocols, including protocols aimed at real assets, derivatives, generating efficiency and decentralized exchanges. The Algorand strike mechanism offers unique characteristics compared to other proof-of-stake networks.
The Algorand Foundation emphasized that Algo strike rewards are divided into real time, without the risk of cuts or restrictive recording. Unlike Ethereum, Solana and others, nodes on Algorand have full access to their tokens at all times. Moreover, the deployment rewards of Algorand are non-inflat to, which means that payouts have no influence on the total range of the original token.
“Although strike on Algorand is very included, it is also very safe,” says John Woods, head of technology at the Algorand Foundation, in a statement.
Algo holders can participate in the strike program and earn rewards by contributing to network security in various ways. These include liquid strike via Tinyman, Folks Finance, Messina and Compx.
Users can also participate through the consensus strike pool or delegated strike on Pact and Valar respectively. The deployment at centralized stock exchanges is expected to go live later this year.
