Earn 2 Algorand (ALGO) for free with Binance Learn & Earn Campaign!
Earn 2 Algorand (ALGO) for free with Binance Learn & Earn Campaign!
What is Binance Learn & Earn?
"Binance Learn & Earn" is a Binance campaign where users can gain knowledge on blockchain and earn free crypto by completing courses and quizzes. All KYC-verified Binance users can begin to read the articles and watch the video(s) anytime from now, and complete quizes to earn rewards!
If you don't have a Binance account you can sign up with my referral link and support me and this blog. 
What is Algorand (ALGO)?
Algorand (ALGO) is a Pure Proof of Stake blockchain focused on scalability and decentralization. It has its own blockchain, cryptocurrency, and smart contracts. Algorand project is founded in 2017 by Professor Silvio Micali, a computer scientist from MIT that has won the Turing Award and is considered one of the forefathers of modern cryptography. The mainnet network launched in June 2019 along with its native cryptocurrency, ALGO. As mentioned, the blockchain focuses on improved scalability and also supports smart contracts. The Algorand network is a public, decentralized, Pure Proof-of-Stake blockchain with support for customized layer-1 blockchains. These can be used to create blockchains tailored for specific uses. The project claims it has solved the trilemma and its technology is particularly useful for financial services, Decentralized Finance (DeFi), fintech, institutions and the creator economy.
Like other alternative blockchains to Bitcoin and Ethereum, Algorand has focused heavily on scalability, speed and decentralization. Its Pure Proof of Stake consensus mechanism provides a unique solution with VRFs, and many find this blockchain technology attractive for its success in decentralizing power.
Quiz Questions and Answers:
Beware that order of the questions might differ on your quiz page! You can find the answers below, in case of a different order in the questions you can find the answer from the choices.
Q1. Algorand has a Governance Program that allows the community to vote on measures that impact the future of the blockchain. True or false?
Answer: True
Q2. What is the total supply of ALGO tokens?
Answer: 10 billion
Q3. What is the minimum stake needed to run a validator node in Algorand’s PPOS consensus mechanism?
Answer: 0.1 ALGO
Q4. Silvio Micali, founder of Algorand, is famous for being the co-inventor of which of the following technologies?
Answer: All are correct
Q5. Which of the following companies are building NFT and Web3 projects on Algorand?
Answer: All are correct
Q6. For each round, the network selects:
Answer: The block proposal with the lowest VRF hash
Q7. How fast is an Algorand block?
Answer: 3.7 seconds
Q8. How much does it cost to send a transaction in Algorand?
Answer: 0.001 ALGO
Q9. How many transactions per second (TPS) can Algorand process?
Answer: 6,000
Q10. Which consensus mechanism?
Answer: PPos
What is the prize?
After successful completion of the quiz you will get a cash voucher for 2 ALGO coins. Reward distribution generally takes less than 48 hours. However, you may not receive the rewards if you’re not qualified.
