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The Genius of Algorand- Book Review

In a universe of cryptocurrencies, Algorand stands out as one of the best long-term blockchain protocols for the future.

Anthony Scaramucci

The above quote sets the stage for The Genius of Algorand. Anthony provides a conversational tone around, why, in a universe of cryptocurrencies, he has been drawn to Algorand. Secondly, the origins of Algorand, a blockchain protocol that is the brainchild of Turing Award winning Silvio Micali. Finally, the future he sees for Algorand, an epic quest with vast opportunities.

Anthony’s writing is a refreshing change of pace from the overhyped emphasis on returns and over promises that other blockchain focused books have taken. He also doesn’t bog a reader in technical features of blockchain technology or the Algorand blockchain. He instead creates an approachable and relatable story of his journey and the journey of Algorand.

If every discovery is a journey that individuals must make, then I hope this book has been a map that leads you to the ship called Algorand

p. 93

His intellectually honest approach to discussing Algorand and his own navigation of the ever changing currents of cryptocurrencies is a story I recommend to all; from novices to veterans.

The Tightrope

Anthony opens his book discussing his own relationship with decentralized finance, where he offers a unique perspective being an institutional advisor. Mr. Scaramucci founded SkyBridge, an alternative investments firm, in 2005. Traditional finance would seem to be at odds with decentralized finance (DeFi) and he openly discusses his own skepticism of blockchain technology.

His mindset began to shift when acknowledging the liquidity issues that traditional finance has failed to solve. He goes on to discuss the benefits blockchains can provide with transparency and efficiency. These promises were enticing enough to have him scour the cryptosphere. But blockchains faced their own challenges; mainly the blockchain trilemma.

The idea of the blockchain trilemma is a cryptocurrency cannot be Fast, Secure, and Scalable without sacrificing one of these three benefits. It was this pursuit, to discover a blockchain that could truly solve this trilemma, that his journey springs from. His journey introduced him to many individuals but ultimately led him to Algorand.

Silvio Micali

Lex Fridman interview with Silvio Micali- 13:40 Silvio discusses the blockchain trilemma

Mr. Scaramucci focuses on the origins of Silvio and his foundational cryptographic work that is crucial to all cryptocurrencies today. The emphasis on Silvio’s story humanizes and provides an approachable introduction to the Algorand founder and some of the amazingly complex technology that powers Algorand. Silvio’s work seems to culminate into Algorand.

Silvio has achieved accolades and recognition for his contributions to cryptography. However, always drawn to the thorny problems, he couldn’t sit on the sidelines and wait for the promises of blockchains to become a reality.

Not only does Silvio not accept the tilemma as unsolvable, he takes it a step further by ensuring Algorand is carbon neutral.

As Scaramucci takes us through his own journey of discovery, he provides multiple perspectives from those that fundamentally make Algorand unique.

Algorand Use Cases

After providing the origin of Algorand, Scaramucci dives into the variety of industries and their use cases for Algorand. Providing real world examples of governments, traditional finance, decentralized finance, real estate, artists, and gaming operating on Algorand.

These use case show how industries are leveraging Algorand in new and exciting ways that are revolutionizing their fields. Anthony helps the reader begin to see the potential of blockchains.

Anthony shares interviews with founders, creators, and builders and their optimism for Algorand. Cultivating and sharing unique perspectives and interviews he has held with those pushing the frontier of this new technology, creating a new crypto world.

The Algonauts

Anthony draws parallels between his journey of discovery that is ongoing to the community of Algorand. The Algorand community has dubbed themselves the “Algonauts” and the poetic symmetry of the greek epic the Argonauts is a consistent theme throughout this book.

Scarramuci not only provides his journey, the journey of Silvio, but alludes to the journey the reader will continue. Exploring Algorand and the new frontier of blockchain technology. He provides insights, a map, into his current coordinates, while sharing the hopes and opportunities of journeys to come.

A must read for anyone trying to better understand the current state and potential future of Algorand.