# Algorand Foundation

> The Algorand Foundation is the Singapore-based nonprofit that stewards Algorand, a pure-proof-of-stake Layer 1 blockchain founded by Turing Award-winning MIT cryptographer Silvio Micali. It manages the ALGO token supply, funds developers through grants and community xGov governance, and pushes decentralization to the point where, in 2025, it deliberately shrank its own share of network stake from 63% to 21%.

- **Founded:** 2019
- **Headquarters:** Singapore
- **Founders:** Silvio Micali (Founder of Algorand (protocol); MIT professor, Turing Award laureate)
- **Team size:** ~110-140 employees
- **Products:** ALGO Token, Pure Proof of Stake (PPoS), On-Chain Governance, xGov Community Governance, AlgoKit
- **Notable:** Founded by Turing Award laureate and MIT professor Silvio Micali, Launched a live pure-proof-of-stake mainnet in 2019 with instant finality and no forks, Signed FIFA as official blockchain platform for the 2022 World Cup

## Products & services

- **ALGO Token** — The native cryptocurrency of the Algorand network, capped at a fixed 10 billion supply, used for transactions, staking, and governance.
- **Pure Proof of Stake (PPoS)** — Algorand's consensus protocol using verifiable random functions to select block proposers and voters, delivering instant finality, no forks, and carbon-negative energy use.
- **On-Chain Governance** — Quarterly governance periods where ALGO holders vote directly on protocol direction, treasury allocation, and strategic measures.
- **xGov Community Governance** — A community-elected xGov Council that reviews and funds ecosystem grant proposals, decentralizing how the treasury supports builders.
- **AlgoKit** — Developer toolkit for building on Algorand using familiar languages like Python and TypeScript; AlgoKit 4.0 planned with AI-assisted tooling.
- **Algorand Virtual Machine (AVM)** — The smart contract execution environment that runs applications on the Algorand Layer 1.
- **Staking Rewards Program** — A program that rewards ALGO holders for securing the network, driving decentralization of stake away from the Foundation.

## Achievements

- Founded by Turing Award laureate and MIT professor Silvio Micali
- Launched a live pure-proof-of-stake mainnet in 2019 with instant finality and no forks
- Signed FIFA as official blockchain platform for the 2022 World Cup
- Powered national-scale projects in El Salvador and the Marshall Islands
- Reduced Foundation share of network stake from 63% to 21% in H1 2025
- Launched community xGov governance with an elected council in 2025
- Operates a fixed, immutable 10 billion ALGO supply cap

## Latest updates

- **2026-01** — New Board of Directors announced, chaired by Abra founder Bill Barhydt, with alumni of FinCEN, the U.S. Treasury, and MoneyGram.
- **2025-09** — First xGov community grant proposals reviewed and approved by the elected xGov Council.
- **2025-07** — Inaugural xGov Council elected to decentralize grant decisions.
- **2025-06** — Staking rewards program drove Foundation stake down to 21% and more than doubled validators.
- **2025-01** — 2025 roadmap published, emphasizing real-world use, custody (Intermezzo), and a self-custody wallet (Rocca).

## Links

- Website: https://algorand.co
- LinkedIn: https://www.linkedin.com/company/algorandfoundation
- Twitter/X: https://x.com/AlgoFoundation
- GitHub: https://github.com/algorandfoundation
- Instagram: https://www.instagram.com/algorandfoundation/
- Facebook: https://www.facebook.com/AlgorandFoundation/

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Profile page: https://yespress.io/algorand-foundation
Published by YesPress — https://yespress.io
Last updated: 2026-08-14