The reason I can explain the technology behind ALGO simply is because it's not a new idea. Many attempts have been made in the past to improve the blockchain trilemma. In short, Algorand focuses on making transactions fast, secure, and fair while providing developers powerful tools for their platform.
Algorand's technology is based on a decentralized system called proof-of-stake (PoS). This ensures that everyone agrees on the order and validity of transactions.
What's great about Algorand is its speed and security. Transactions are finalized in a eye blink. To ensure fairness in selecting who adds new blocks to the blockchain, Algorand employs the advanced mathematical concepts like "Verifiable Random Functions" (VRFs) and cryptographic sorts.
Lastly, Algorand offers smart contracts known as Algorand Standard Assets. These contracts act as small programs that motivate developers to create various exciting applications on the Algorand blockchain, including decentralized apps. Show Less
