Algorand

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Network specific features and requirements for Algorand wallets.

Algorand is a proof of stake blockchain designed for low fees and fast finality. This guide explains Algorand specific behavior when using IBM Digital Asset Haven wallets.
Minimum balance

Algorand accounts require a minimum balance of 0.1 ALGO to remain active. If a wallet balance drops below this threshold, the account becomes inactive and cannot send transactions.When creating a new Algorand wallet, fund it with at least 0.1 ALGO before attempting any transactions.

Receiving Algorand Standard Assets (ASA)

Before a wallet can receive an Algorand Standard Asset, it must opt in to that asset. This is required by the Algorand protocol. Wallets cannot receive an ASA unless they have explicitly opted in.

To opt in to an ASA, send a transaction with an amount of 0 for that asset. This registers the wallet to receive the asset. Each ASA opt in increases the minimum balance requirement by 0.1 ALGO. Plan for this when managing multiple assets.

Transfers
Use the /api-reference/wallets/transfer-asset endpoint to send ALGO and ASAs.
  • Native ALGO: Use kind: Native and provide the amount in microALGO. One ALGO equals 1,000,000 microALGO.
  • ASA tokens: Use kind: Asa and provide the token assetId.
  • Memo: Algorand supports an optional memo field for transaction notes.