The Algorand Foundation has tapped Nikolaos Bougalis, a veteran cryptographer and former Ripple Engineering Lead, as his new Chief Technology Officer, the company said in a press release on Monday.
Bougalis, who spent almost a decade of leading the development of the Open Source XRP Ledger, will lead Algorand’s engineering efforts and help promote its technical roadmap 2025.
Algorand’s Algo (Algo) token traded 2.6% higher over 24 hours next to a general rally in crypto prices.
Algorand’s roadmap, which was revealed in July, focuses on decentralization, web3 resolution, corporate use cases and groundbreaking cryptography. Bougalis is expected to play a key role in adapting the foundation and algorand technologies around these goals.
“NIK brings a wealth of experience with distributed systems, cryptography and blockchain as well as a demonstrated ability to promote collaborative development society,” the Algorand Foundation CEO Staci Warden said in release. “He wants to help us double decentralization, performance and security.”
Bougalis will be based in the United States as the foundation seeks to expand its footprint among domestic companies and institutions looking for compatible scalable blockchain infrastructure.
His background in security and cryptography is expected to strengthen Algorand’s work with privacy, quantum resistance and scalability.
Algorand, launched in 2019, aims to offer immediate finality and make fees for builders who create projects in payments, identity, supply chain and active docking. The ecosystem now includes millions of users and a global network of developers using well -known programming languages such as Python and Typescript.
