Algorand Rises 30% As Founder Sneaks Into List Of Personalities To Watch In 2023

Reynaldo Marquez

2 years ago

2 mins read

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Algorand (ALGO) has benefited from the general sentiment in the crypto market as it records significant profits on high timeframes. The cryptocurrency has been upward since late 2022 and could be on track for further gains.

As of this writing, Algorand (ALGO) trades at $0.24 with a 2% loss in the last 24 hours. Over the previous seven days, the cryptocurrency saw a 3% decline while recording a 40% profit in the last month.

Algorand ALGO ALGOUSDT — ALGO’s price with positive price action on the daily chart. Source: **ALGOUSDT Tradingview**

Algorand Founder Makes The List Of Most Important Crypto Projects

According to a recent report, Algorand founder Silvio Micali s one of the top “2023’s crypto characters to watch.” The computer scientist is one of the investors of the zero-knowledge proofs (zk Proof) technology which is widely accepted in the blockchain space and one of the pillars of its privacy settings.

Micali has been part of the faculty at the Massachusetts Institute of Technology (MIT) in the Electrical Engineering and Computer Science Department since 1983. In addition to Zk Proof, Micali has investigated Verifiable Random Functions and is the co-inventor of probabilistic encryption.

According to the report, Micali has received the Turing Award called the “Nobel Prize of computing,” the Gödel Prize, and other distinctions. In that sense, the report claims that Micali and the Algorand network have the background and capabilities to push the crypto space into a new adoption era.

Over the coming decade, Micali believes only those blockchains capable of processing fast transactions will remain and see high levels of adoption. This theory is part of the long-term value proposition for Algorand, its founder said:

The moment the blockchain starts to be used for transactions, the few blockchains that are really capable of transacting at a very low cost, they’re going to emerge, in my opinion. When traditional finance starts getting on the blockchain, you’re going to see the blockchains that are really used in a massive and transactional way are going to accelerate.

ALGO Founder On The Radar Along With?

In addition to Micali, the report ranked Vitalik Buterin, the inventor of Ethereum, and Adam Back, CEO of Blockstream. As the report claims, the past years in crypto were led by “moguls” by loud personalities with little technical background, such as the founder of bankrupt crypto exchange FTX, Samb Bankman-Fried.

Thus, the industry might look up to Buterin, Back, and Micali as the new faces of the crypto industry. Unlike SBF and others, these individuals could “shake things up” and allow the industry to transition from its current state of crisis.

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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