The Algo is the crypto-currency of the Algorand blockchain. The Algorand blockchain has been built to help create an open, borderless economy where everybody can participate. This new type of digital economy can only run on a truly digital currency that works instantly, for everybody. This is the Algo.
Not all crypto-currencies are the same. A crypto-currency also has the benefit of the key features of the blockchain that it is built on. The Algo benefits from the speed, scalability, trustworthiness, transparency, and security of the Algorand blockchain, making the Algo one of the powerful and trustworthy crypto-currencies available today.
The Algorand blockchain network has its official native cryptocurrency, called the Algo, to drive our borderless economy and the system of incentives. The Foundation holds Algos to contribute to the stability of the Algorand blockchain and to support the Algorand community, ecosystem building, and research. The Algos will enter the ecosystem via various channels including development and research grants and sales. All such activities will be disclosed with full transparency to our community.
The Algorand Foundation believes in a fully decentralized Algorand ecosystem. Such a decentralized ecosystem, in which everyone can impact monetary, technical, and other policy decisions, best enables the Algorand community to shape the shared future of the Algorand network. We recently announced the launch of Decentralizing Algorand Governance, the proposal for the long term governance of the Algorand ecosystem.
Unlike traditional money, crypto-currencies like the Algo enable holders of that currency to manage all of their own money via their own digital wallets. These digital wallets offer high levels of security, ownership and enable easy access to your currencies at all times. There are many different types of digital wallets - those designed for mobile phones, those designed for desktop use, and even hardware wallets that allow you to store your Algo in a secure offline format.
The Algorand Foundation is committed to providing regular transparency reporting to the Algorand community. We have a repository for all Transparency reports and research published by the Algorand Foundation.