International Conference on Advances in Information Technology (ICAIT): Algorand, A Better Distributed Ledger

This paper examines the advancements and improvements in distributed ledger technology with a focus on Algorand. The paper discusses the evolution of blockchain technology, starting with Bitcoin and the introduction of proof-of-stake algorithms. While these earlier systems had their advantages, they lacked a secure approach to distributed computing. The authors highlight how the concept of cryptographic ledgers and the Byzantine Agreement protocol led to the development of Algorand, a significant advancement in distributed ledger technology. Algorand is presented as a scalable and efficient solution that enhances database and data warehouse operations through its consensus mechanism. The paper reviews previous technologies and protocols, explaining their limitations and how Algorand addresses these issues. It also delves into the algorithms used by Algorand, showcasing its efficiency and the protocols that contribute to its performance.

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