Blockchain Algorand has appointed a new CFO with extensive experience in crypto and TradFi.

Algorand, a layer 1 blockchain protocol, has hired Matthew Commons as its first Chief Financial Officer (CFO) to help identify strategic growth areas and ensure proper financial plans are in place to pursue them. Commons, who previously worked as president of Commons Partners LLC and CEO of Cambridge Blockchain, understands blockchain technology and has experience in managing high-performing teams, executing mergers and acquisitions, and working extensively with the investment community. Algorand is a proof-of-stake blockchain protocol focused on transaction speed and scalability. The protocol recently implemented a new interoperability standard, state-of-proofs, to increase transaction speed to 6,000 transactions per second from 1,200.