The organization behind the project for the Algorand blockchain platform announced on Tuesday that they have made the test network publicly accessible. Algorand blockchain goes public with its test network.
Alogrand has a proof-of-stake bases which was first unveiled in 2017 by MIT professor and Turing Award winner Silvio Micali. The initiative has been successful with backers, receiving $4 million in a seed round last February. The main contributors being venture capital firms Union Square Ventures and Pillar., The project has attracted around $66 million in funding over the course of 2018.
Micali explained in a blog post that was published earlier this month, that along with the elimination of the risk of “forking” or splitting into separate networks, the technological approach Alogorand is aiming to create, is a decentralized system that incorporates both scalability and security.
Prior to the public release, there was an ‘invitation-only’ testnet launched last July. According to the startup, several hundred users participated in the private test period.
According to a press release, it is now Algorand’s goal to attract a wider population of users to “engage with TestNet and provide feedback on the quality, function, and overall experience of the TestNet protocol”.
CEO Steve Kokinos said in a statement:
“Opening TestNet to the public is a major milestone on our journey to the open source release of the technology….Today marks the latest step forward in our overall mission to enable the broader Algorand community to collaborate, innovate and contribute to the evolution of our public, permissionless blockchain platform.”