Mehul Bafna

• With the growing market of cryptocurrencies, blockchain is becoming central to various research areas relevant from a mathematical and cryptographic point of view. Moreover, it is capable of transforming the traditional methods involving centralized network operations into decentralized peer-to-peer functionalities. At the same time, it provides an alternative to digital payments in a robust and tamperproof manner by adding the element of cryptography, consequently making it traversable for an individual who is a part of the blockchain network. Furthermore, for a blockchain to be optimal and efficient, it must handle the blockchain trilemma of security, decentralization, and scalability constraints in an effective manner. Algorand, a blockchain cryptocurrency protocol intended to solve blockchain’s trilemma, has been studied and discussed. It is a permissionless (public) blockchain protocol and uses pure proof of stake as its consensus mechanism.