Algorand (ALGO), the proof-of-stake network has recently partnered with digital custody tech provider, Curv. Reportedly, collaboration’s aim is to provide solutions to decentralized finance.
First of all, let me go through the project Algorand briefly. Simply, Algorand is a scalable, secure, and decentralized digital currency and transaction platform. Founded by MIT professor Silvio Micali. It is a pure proof-of-stake blockchain protocol.
According to a report by CoinDesk, the custody tech provider Curv integrates Algorand within its “Asset-Agnostic” infrastructure and Algorand leverages Curv’s custody solutions internally at the same time.
Reportedly, Algorand COO Sean Ford told to the largest cryptocurrency news provider CoinDesk,
“To be sure, we are building technology that appeals to traditional institutions, payment providers [and] governments. Curv embodies the coming together of traditional financial investors with the Defi space.”
The interesting thing is, the tech custody firm’s goal is to build up the Algorand network by enabling institutions to create secure wallet functionality for the applications. This arrangement is under Curv’s multi-party computation technology.
As for the Curv users, they will also be able to securely store and make transactions with the native token of Algorand, “ALGO” and ALGO based ASA tokens.
While this Defi heat is going around, Algorand, Curv partnership is an exciting thing for most cryptocurrency enthusiasts and investors that will result in price gaining. However, what do you think of this partnership? it will affect the price of ALGO? Discussions are open below.