Is Algorand a Altcoin?

Algorand (ALGO) is a blockchain platform and cryptocurrency designed to function like a major payments processor. ALGO, the native coin of the Algorand platform, is used to secure the platform and reward the platform’s operators.

It is one of the first DeFi products in the Algorand ecosystem . From January, users of Algofi will algorithmically earn ALGO rewards when they borrow and lend ALGO and the dollar-pegged stablecoins algostable (STBL) and USD coin (USDC).

New altcoins are becoming more attractive, and some of them, including Algorand (CCC:ALGO-USD) , boast incredible real-world utility.