• Algorand (ALGO) has seen significant gains in recent weeks, trading up 2% in the last 24 hours.
• Silvio Micali, founder of Algorand, is listed as one of the “2023’s crypto characters to watch” for his involvement with zero-knowledge proofs (zk Proof).
• Micali believes that only blockchains capable of processing fast transactions will remain and see high levels of adoption.
Algorand (ALGO) Price Surge
Algorand (ALGO) has been on an upward trend since late 2022, currently trading at $0.24 with a 2% loss in the last 24 hours. In the previous seven days, ALGO saw a 3% decline while recording a 40% profit in the last month – indicating positive price action on its daily chart.
Silvio Micali: Crypto Character To Watch
According to a report, Algorand founder Silvio Micali is one of the top “2023’s crypto characters to watch.” He is a computer scientist and investor of zero-knowledge proofs (zk Proof), which is broadly accepted in blockchain space and used for privacy settings. Micali has been part of the faculty at MIT since 1983 and is also co-inventor of probabilistic encryption. He has received many accolades such as Turing Award and Gödel Prize, among others.
Adoption Of Blockchains
Micali believes that only those blockchains capable of processing fast transactions will remain and see high levels of adoption when traditional finance starts getting on board with blockchain technology. Therefore, he sees this as being key for Algorand’s long term value proposition: “When traditional finance starts getting on the blockchain, you’re going to see the blockchains that are really used in a massive and transactional way are going to accelerate”.
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Overall it appears that Algorand (ALGO) could be headed for further gains due to its current bullish momentum combined with Silvio Micali’s reputation within the crypto space as one of “2023’s crypto characters to watch”. With increasing adoption from traditional finance players expected soon via blockchain technology – ALGO looks set to benefit greatly from this development too!