The Algorand Foundation announced via Twitter on Wednesday that the Encode Algorand hackathon will commence on 31st May. Developers will build projects on Algorand to answer challenges. The developers will focus on building NFT, DeFi, and Gaming projects.
Algorand is an open-source, permissionless, Pure Proof-of-Stake (PPoS) blockchain protocol for “the next generation of financial products”. As such, Algorand ensures "full participation, protection and speed within a truly decentralized network". ALGO is trading at $0.4358 at press time, down by more than 8% in the last 24 hours.