Today, let’s talk about ALEO’s account system. ALEO adopts a dual-account system, which includes both the Ethereum account system and the Bitcoin UTXO system. I believe everyone is familiar with the Ethereum account system and uses it a lot. I won’t go into too much detail here today. Today I will mainly talk about ALEO’s UTXO check system.
UTXO check system, you can understand it this way, that is an enhanced version of the bank check system. I believe everyone has heard of checks, but very few people have actually seen and used them in real society. Many people have only seen people in previous movies and TV series take out a small notebook and take out a check. After signing, tear it off and give it to others. As for how the check system works, most people don't know. They only know that it can be used as money and can be used to withdraw money from the bank. How checks are generated and operated is too complicated to explain, so I won’t go into details here. In fact, I don’t understand it either.
ALEO's UTXO, each of its checks (records) can be encrypted, and only the user can know the content. For the ALEO system, it knows that there are records of certain IDs, and that certain ID records have been used. As for how the records are generated and what the contents of the records are, they can be encrypted and not known to the outside world.
Therefore, Aleo's privacy solution can be simply described as follows: through zero-knowledge proof, the generation, content and use of checks (records) are encrypted and invisible, but verifiable. As for the results that need to be made public, they can be placed in non-encrypted records or in the account system.
Moreover, ALEO's check system can execute smart contracts, perform offline calculations, and use zero-knowledge proofs to ensure the security of the offline check system. Everything can ultimately be verified by ALEO.
ALEO combines Ethereum's account system and Bitcoin's UTXO system, and has zero-knowledge proof, offline computing, privacy execution and other functions. Its performance is almost unrestricted by traditional TPS, so ALEO is technically superior to all existing public chains. As for how ALEO's price will perform after it goes online, I believe that as long as the ALEO project party is not stupid and does not mess around, ALEO's performance will not be bad after it goes online.
Okay, that’s all for today. Today is Friday, I wish you all a happy weekend!