NEW YORK, NY / ACCESSWIRE / June 19, 2019 / BitMax.io (BTMX.com) has announced the listing of Algo (ALGO), the native token of the Algorand blockchain network. The Algorand Foundation is committed to building a trusted, public, and permissionless infrastructure for the borderless economy with a pure proof-of-stake blockchain; the BitMax team is thrilled to provide strategic support to the Algorand team in their pursuit of this ambitious and innovative vision.
The listing of ALGO on BitMax.io (BTMX.com) signifies a strategic alignment of interests amongst two leading institutions, both committed to driving innovation within the digital asset ecosystem.
About the Algorand Foundation and ALGO
The Algorand blockchain is entirely decentralized, which means there is no powerful central authority or single point of control. A unique committee of users is randomly and secretly selected to approve every block. Nodes are run by entities representing diverse backgrounds across many different countries.
Algorand uses a pure proof-of-stake (PPoS) consensus protocol built on Byzantine agreement. This means the system can achieve consensus without a central authority and tolerate malicious users as long as a supermajority of the stake is in non-malicious hands. The users' influence on the choice of a new block is proportional to their stake in the system (number of algos). Users are randomly and secretly selected to both propose blocks and vote on block proposals. All online users have the chance to be selected to propose and to vote. The likelihood that a user will be chosen is directly proportional to its stake.
About BitMax.io (BTMX.com)
Founded in 2018, BitMax.io is a next-generation digital asset trading platform with a broad range of financial products and services for both retail and institutional clients. Especially the platform services sophisticated buy-side & sell-side institutions in both Eastern & Western demographics who are seeking highly liquid marketplace.
The innovative trading platform was founded by a group of Wall Street quant trading veterans and built upon the core values of efficiency, resilience, and transparency to deliver a high-performance, institutional grade trading experience to clients.
BitMax.io has experienced significant growth since its launch late 2018 and is deeply committed to providing a high-performance, client-centric trading platform to its global client base. Currently, the platform has over 180,000 registered users, with over 50,000 active community members. BitMax.io's listing of ALGO represents a strategic milestone for the team to expand partnership with the world's most innovative teams driven to optimize and redefine the existing digital asset ecosystem.
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