Getting Started

Algorand is a permissionless, pure proof-of-stake blockchain that delivers decentralization, scalability, and security. Algorand can be used in many ways and this guide is intended to help you get set up and working with the blockchain as quickly as possible.

Analytics for your Algorand Decentralized Applications

Flipside Crypto is currently providing free analytics for decentralized applications that run on the Algorand network. Using these analytics allows you to get critical performance data around your application quickly, including the number of unique addresses that interacting with your application, incoming and outgoing transactions, and incoming and outgoing Algos. All of these are also historically tracked so you can watch your application grow. To use this service signup here

Algorand Networks

Algorand currently has three networks: MainNet, TestNet, and DevNet. Our DevNet is intended to be used by developers who are working on the Algorand source code. Our TestNet is used by developers that want to be able to test an application before pushing it to the MainNet. TestNet also has a Token dispenser so you can fund specific accounts. If you are planning on developing an application on Algorand, it is recommended that you do so on TestNet. MainNet is Algorand's main network, used by production applications, and is the default installed network when running the installers. If you wish to install or switch networks, see Switching Networks

Installation

See the install instructions to get up and running on MainNet or TestNet.

Key Terms

Term

Description

Key

Public keys in Algorand are Ed25519 public keys. Private keys in Algorand are Ed25519 private keys. Algorand distinguishes between spending keys and participation keys.

Every address on the Algorand network will have a private key (the spending key) and a public key to manage user interactions and sign transactions. However, these keys are not used for network consensus (agreement on contents of a block and when it should be written to the blockchain) and instead, a specialized participation key is generated. Once this participation key is associated with the account and the account is placed online, the account has the ability to participate in consensus. Once the range of rounds expires, the participation key is removed and another has to be generated. This method of participation ensures that a user’s money is secure even if their participating node is compromised.

Address

Addresses are unique identifiers for either a single public key (the common case) or a collection of public keys (like in the case of multisig address).

Account

Accounts represent an entity on the Algorand blockchain with a balance and some additional metadata. Accounts are usually referred to by a single public key(Address), or, in the case of multisig, the hash of multiple public keys and some additional information.

Account keys can be created in a stand-alone fashion using the SDKs or generated within a wallet. All accounts keys created within a kmd wallet can be recovered using the wallet's Master Derivation Key, represented as a 25-word mnemonic. An account key generated outside of a kmd wallet can be backed up individually with an account-specific mnemonic.

Accounts currently require a minimum balance of 0.1 Algos (100000 microalgos). In the future accounts with balances lower than the minimum will be closed automatically. If you spend under your minimum you are required to specify a close account to send the remainder of the tokens to. If you are using goal clerk send, you can do this with the -c option. If you do not specify this option then the transaction will be rejected.

Wallet

Wallets store a collection of accounts. kmd, the Key Management Daemon, stores collections of wallets, and allows users to perform operations using the keys stored within these wallets.