Is Algorand a good long-term buy?

Could you please elaborate on whether Algorand is considered a solid long-term investment? I'm interested in understanding its fundamental strengths, such as its technology, scalability, and adoption rate. Additionally, I'd like to know about any potential risks or challenges that might affect its long-term growth prospects. Would you also comment on its competitive position within the cryptocurrency market and any expected future developments that might influence its value? Thank you for your insights.