The Algorand blockchain, touted as a Pure Proof-of-Stake (PPoS) blockchain, has now been completely embedded with Taurus SA. This integration includes the support of ALGO, the blockchain’s native crypto token, staking functionalities, and Algorand Standard Assets (ASA), which are used for the release of both fungible and non-fungible tokens.
The high-performing Layer-1 blockchain developed by Algorand, which was established by the cryptographer Silvio Micali, winner of the Turing Award, is unrivaled when it comes to building technologies that are quick, seamless, and accessible to anyone. Every sector is being disrupted by Algorand, from traditional finance and derivative finance to new creative economies and well beyond. Its viable technology enables increased engagement, openness, and productivity for everyone thanks to an unprecedented dedication to compatibility and consistent delivery.
The Algorand network is reshaping the future generation of financial solutions, modalities, and the transfer of money. This is happening because the Algorand technology is the preferred technology for more than 2,000 worldwide businesses. Taurus-PROTECT, the leading custodial platform for financial institutions, has completed the integration of the Algorand blockchain. ALGO native coin, ALGO staking abilities, and ASA Algorand Standard Assets are now all supported by it. Customers of Taurus will be able to leverage Algorand to create silent revenue by receiving staking rewards and releasing and maintaining tokenized assets while harnessing ASA. This will be possible via the use of Algorand. In addition, Taurus has extended the capabilities of its blockchain connection infrastructure, known as Taurus-EXPLORER, so that it can now accommodate Algorand.
Pietro Grassano, Business Solutions Director for Europe at Algorand, said “It is quite exciting to see that Taurus, a digital assets network that is a leader in the sector, has now connected with the Algorand blockchain. This is an amazing new route for financial firms to utilize all that Algorand’s Layer-1 has to deliver, from performance and scalability to safety and the least environmental effect. Financial institutions may now take use of everything that Algorand’s Layer-1 has to present.”
Dr. Jean-Philippe Aumasson, co-founder and Chief Security Officer at Taurus, said: “Many of our customers have requested that we provide them direct connections to the Algorand protocol so that they may take use of its tokenization features. We are therefore delighted to collaborate with Algorand to unleash innovative approaches and to keep providing the broadest possible options to our customers. This is not just with respect to base layer 1 covenants, as well as in terms of tokenization functionalities, an area in which Taurus has become the unquestionable frontrunner. We hope that this partnership will allow us to continue offering the broadest choice that is possible to our customers.”
The Algorand Foundation is an institution that does not want to make a profit from its activities and has the goal of creating a boundry-less and seamless economy that is based on public and decentralized blockchain technology. The Algorand Foundation has big plans for the Algorand covenant, and one of those plans is for a fresh and expanded community of blockchain and mainstream programmers to build a wide variety of apps on top of it. The Foundation is dedicated to fostering innovative innovation in a way that is both environmentally responsible and economically viable.
In April of 2018, Taurus SA was established in Geneva, Switzerland, with a primary focus on blockchain technology and crypto assets. Taurus was established by top executives who had prior experience in the fields of banking, regulation, information technology, and cyber safety. With a single, unified platform, Taurus provides its customers with the framework necessary to handle ANY kind of digital asset, including cryptocurrencies, tokenized assets, and other digital tokens. It is the dominant player in Switzerland and all of Europe. Taurus products are now being used commercially and have been employed by a wide variety of banking institutions, including systemic banks, financial institutions, private banks, retail/digital banks, crypto-banks, and trading platforms.
