The digital currency and transaction platform, Algorand, released a publicly available test network to collect feedback on its product, the company confirmed in a April 16 press release.
Algorand, the brainchild of the Massachusetts Institute of Technology (MIT) professor Silvio Micali, seeks to create a platform for developing applications for enterprises. Previously, the project received funding in the amount of US $ 66 million , providing a test network to a limited group of participants prior to public deployment.
Among them was the Top Network, a decentralized cloud communication service, which subsequently formed a partnership with Algorand to develop its own offers for users.
The upcoming sale of ERC-20 Alogrand tokens became a subject of controversy earlier this month, when a cryptocurrency exchange, Bgogo, announced that it would exchange tokens before they appeared.
Subsequently, Bgogo changed its approach after the company publicly distanced itself from the plan, instead offering users trading in futures.
Alogorand intends to launch its main product in June along with its token. In an interview in January of this year, Mikali spoke about his belief that the blockchain technology has the future potential to create a global economy without borders.
A group of researchers at the Massachusetts Institute of Technology recently stated that it created a cryptocurrency currency that needs transaction-checking nodes for storage 99 percent less data compared to bitcoins (BTC). The currency, known as Vault, will run on the Algorand blockchain.