Algorand Basics - "Lecture Note"

1. The Fundamentals: "The Scientist's Blockchain"

While Bitcoin was built by an anonymous cypherpunk and Ethereum by a college dropout, Algorand was built by Silvio Micali, a Turing Award winner (the "Nobel Prize of Computing") at MIT.

The Core Tech: It uses Pure Proof-of-Stake (PPoS).
In English: It doesn't matter how much money you have; you can’t buy your way into controlling the network.
How it works: It uses a Verifiable Random Function (VRF) (a cryptographic lottery) to secretly and randomly select who validates the next block. It’s like a lottery where nobody knows who won until after they have already done the work. This makes it impossible to bribe or attack the validator because you don't know who they are until it's too late.
The Trilemma Solver: In IT, we learn about the "Blockchain Trilemma" (Scalability, Security, Decentralisation — pick two). Algorand claims to solve all three by using this random selection method.

2. Algorand vs. EVM (Ethereum Virtual Machine)

This is the most important technical distinction you need to understand.

Feature	EVM (Ethereum, BSC, Polygon)	Algorand (AVM)
Architecture	Sequential. Transactions form a single line. If the network is busy, you wait or pay high gas.	Parallel. It can process thousands of transactions at once without clogging.
Tokens	Smart Contracts (ERC-20). A token is just a piece of code. If the code has a bug, your money is gone. Anyone can send you spam tokens.	Layer 1 Primitives (ASA). Tokens are built into the protocol itself (like a file system). They are secure by default. You must "Opt-In" to receive a token (no spam!).
Forking	Probabilistic. The chain can split (soft/hard forks). You usually wait for 6-12 confirmations to be "safe."	Instant Finality. The math makes it impossible to fork. Once a block is written (2.9 seconds), it is permanent.
Language	Solidity. A custom language you have to learn from scratch.	Python (AlgoKit). As of late 2025/2026, you can write smart contracts in native Python.

The "Linux" Analogy:

EVM is like Windows: Everyone uses it, it has the most apps (games/casinos), but it suffers from bloat, viruses (hacks), and gets slow when too many programs are open.
Algorand is like Linux/Unix: It’s leaner, engineered for specific performance, doesn't crash (fork), and permissions are strict (opt-in).

3. Myths vs. Facts (2026 Edition)

Myth 1: "It's Centralised because of Relay Nodes."

The Myth: People used to say the Foundation controls the servers that route traffic (Relay Nodes).
The Fact (2026): The network has moved to a P2P Gossip Network. Relay nodes are no longer the "gatekeepers," and the network is permissionless. Anyone can run a node.

Myth 2: "The Tokenomics are terrible (Inflation)."

The Myth: "Don't buy ALGO, they dump tokens on you."
The Fact: This was true in 2019-2021 due to "accelerated vesting" for early investors. That program ended years ago. Today, over 88% of the supply is already circulating. The inflation is now negligible compared to the early days.

Myth 3: "It's a Ghost Chain (No one uses it)."

The Stereotype: "I don't see any meme coins or monkey pictures, so it must be dead."
The Correction: Algorand focuses on High-Volume Transactional use cases, not retail gambling.
Real Use: It powers airline ticketing platforms (TravelX), copyright management in Italy (SIAE), and massive supply chain data. It processes huge TPS (Transactions Per Second), just not the kind that "Crypto Twitter" talks about.

4. Must-Know Features for You

A. Atomic Transfers (The Barter System) This is compatible with your egalitarian views. In most chains, if I want to swap Token A for Token B, I need a middleman (Smart Contract) which takes a fee.

Algorand: The blockchain itself allows us to say "I will send X if you send Y." If one side fails, the whole thing fails. No middleman, no extra risk.

B. The "Opt-In" (Consent) On Ethereum, anyone can send you a scam token or offensive NFT. On Algorand, you have digital sovereignty. Nothing enters your wallet unless you sign a transaction saying "I accept this asset." This aligns perfectly with humane technology principles—it respects your attention and space.