Algorand blockchain

Fundamentals of Algorand blockchain

We use Algorand blockchain to facilitate transactions on the DREM marketplace. It is a proof-of-stake zero carbon footprint network with low transaction costs at 0.001 Algos.

The Algorand network offers:

• Distributed Ledger of escrows holding NFTs, Security tokens, or Algos, which can facilitate financial transactions based on the logic within their contract.

• Smart Contracts that contain logic which, once deployed, can be remotely called from any node on the Algorand blockchain. The contracts are executed by issuing an “application call” transaction. The Algorand Virtual Machine evaluates the contract as part of resolving this transaction.

• Scalable, Fast & Secure execution that is not currently possible on legacy blockchain platforms (e.g. Ethereum). Algorand Smart Contract Layer 1 (ASC1) operates at over 1,000 transactions/sec. ASC1 transactions are final in under 5 seconds.

• Reduced risk with instant settlement through trustless execution. (You don't have to trust the seller, just the blockchain technology).

• Low cost to execute any transaction at 0.001 Algos.