Algorand, created by Silvio Micali, is a distinctive blockchain protocol that tackles the primary hurdles faced by current blockchain networks: security, scalability, and decentralization. It introduces Pure Proof-of-Stake (PPoS), a consensus protocol that is highly efficient, secure, and eco-friendly, significantly minimizing energy consumption compared to Proof-of-Work systems.

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The Australian Dollar (AUD) is the official currency of Australia, issued by the Reserve Bank of Australia (RBA). AUD is often influenced by commodity exports like gold and iron ore. Australia has a strong blockchain industry, and AUD-backed stablecoins provide a way to transact in crypto while maintaining value stability.