Quote Originally Posted by walrus View Post
I find this very interesting. I have three coins that now pay interest. One is called DAI which is a stable coin, pays 2% apy. The other is ALGO, which I got for free in an airdrop, that pays 4%apy. Now ethereum, which is the second biggest coin by market cap can be staked at 6% apy. Now the interest is payed in the particular coin so you gotta take that into consideration and the value on these things, except DAI can be all over the place but the fact that some cryptos actually pay interest is quite fascinating. Doesn’t mean it can’t go to shit, doesn't mean it is a safe thing just interesting seeing what these things do. I did have to lock up some of my eth to get the 6% but since all I do is hold it to go along for the ride I really don’t care. I always half expect the shit to go belly up any minute so I’m not overly concerned at any given moment
Silvio Micali up there in Massachusettes came up with that...from what I know Algorand was invented to speed up transactions and improve efficiency, in response to the slow transaction times of Bitcoin and other blockchains. Its SUPPOSED to have the design so that there are very much lower transaction fees, as well as no mining I guess kind of similar to Bitcoin's energy-intensive process. The cool part is that it is based on a "permissionless pure proof-of-stake blockchain protocol." Silvio came up with a beauty on this one. And at a million transactions a day it is surely on fire. He's one of the best crypto kings in the world. Thats what they churn out up there at MIT.