Algorand misrepresents its performance against Bitcoin66

Blockchain startup Algorand cited incorrect Bitcoin stats while marketing its own network. The startup claimed that its network handled over 50,000 transactions in less than a month, which it said was equivalent to what Bitcoin does every six months when the network actually does 1.8 million transactions in that time.

Algorand, a Boston-based blockchain company created to improve blockchain decentralization, made the news last month after it successfully completed a $60 million token sale. The company’s token sale implied that Algo token’s market capitalization was close to $6 billion, which would make it the seventh-largest coin—above Binance’s BNB and just below EOS.

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