What is Pure Proof of Stake (PPoS) (Algorand)?

Pure Proof of Stake (PPoS) is Algorand's variation on the traditional Proof-of-Stake (PoS) consensus mechanism. It is a decentralized Byzantine agreement protocol that is characterized by a low barrier to entry, requiring as little as 1 ALGO to become a participating node. PPoS strives for quick transaction processing and finality. It leverages a verifiable random function (VRF) to coordinate its participation nodes.