To be honest, I have never heard of Algorand before I received a mailing from Kraken yesterday, in which the following two paragraphs caught my eye:
- By owning 1 ALGO, users are able to participate in functions essential to Algorand’s operation, including validating transactions and adding new blocks to its blockchain.
- Algorand provides users with at least 1 ALGO (in a wallet they control), a share of the cryptocurrency it creates programmatically each time a block is added to its blockchain. Note: For the time being, you will not receive these rewards for the ALGO you keep directly on Kraken.
Can someone please explain these two points to me?
How / when does Algorand provide users with at least 1 ALGO?
I have already created an Algorand Web Wallet, so where to go from there?
Should I purchase some ALGO at Kraken or register at https://auctions.algorand.foundation?