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BTCC / BTCC Square / Global Cryptocurrency /
Algorand ALGO News: New Staking Reward Program Sparks 6.02% Price Surge in 24 Hours

Algorand ALGO News: New Staking Reward Program Sparks 6.02% Price Surge in 24 Hours

Author:
Global Cryptocurrency
Published:
2025-01-25 10:09:56
9
1
[TRADE_PLUGIN]ALGOUSDT,ALGOUSDT[/TRADE_PLUGIN]

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Algorand’s latest staking reward program has caused a notable 6.02% increase in the price of ALGO over the past 24 hours. The new initiative offers real-time rewards to validators for proposing blocks to the Layer 1 blockchain, starting at 10 ALGO per block and reducing by 1% every millionth block. Furthermore, validators receive half of the transaction fees from the blocks they propose. This updated model has replaced the previous system tied to Algorand’s pure proof of stake consensus mechanism, which passively distributed rewards.

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