Both NXT and Algorand Claim to Have Developed First Proof-of-Stake Chain

[Oxumare]

Algorand claims in its promotional materials to be the first PoS blockchain, but NXT lead developer says his project was first.

Cryptocurrency Algorand (ALGO) claims in its promotional materials to be the first proof-of-stake, or PoS, blockchain, but NXT lead developer Lior Yaffe claimed that his project was first.

In a June 3 tweet, Yaffe accused Algorand’s of misleading the cryptocurrency community for marketing purposes, by falsely claiming to be the first PoS blockchain. He wrote:

“The algorand marketing machine has misleadingly crowned themselves as the "First Pure Proof of Stake Blockchain.” A bold statement considering that NXT is the first project to introduce a working PoS blockchain after Peercoin pioneered a hybrid PoW one.”


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