Aleo is a Layer 1 Blockchain
Aleo is designed to protect privacy (private-by-default), open-source. And the Aleo DEV team believes that their project will help Blockchain become more widely adopted.
In the coming years, blockchain-related network services will become commonplace, and users' personal information security will be very important.
Notable for information security, with ZK (Zero-knowledge) encryption technology.
Zero-knowledge is a technology for authenticating information without the need to provide that information. This is one of the upcoming trends in the market.
What makes Aleo special?
Aleo uses ZK technology. This technology has many advantages, providing users with more service options and reducing risks when using services.
Some outstanding advantages of Zk technology include:
Web security: Instead of logging in with a password or storing passwords on the web or devices, which poses the risk of password leaks, the technology will encrypt, allowing you to log into the web or devices without a password, ensuring user safety, protecting the web, and avoiding security and legal issues that web services may face.
Enhancing personal privacy: You will still have to worry about your information being sold by the WEB you access or the web service you use being attacked and leaking information.
Aleo is a private blockchain, so it uses its own programming language called Leo. The language is inspired by Ethereum's Solidity.
Aleo uses the Proof of Succinct Work (PoSW) consensus mechanism: A variant of the difficulty-adjusting algorithm based on Bitcoin's SHA algorithm.
The computation is based on proof of knowledge instead of an arbitrary hash function.
Aleo also mines like Bitcoin.
Network fees are calculated in advance, and users know how many Aleo points are needed to run dapp. Aleo does not use the term Gas like some other L1 Blockchains.
Aleo development team:
Aleo was founded in 2019 with founding members including: Collin Chin, Howard Wu, Raymond Chu, and Michael Beller...
These are engineers, cryptographers, researchers, and partners of many large tech companies like Google, Amazon.... and major universities like NYU, Cornell University, University of California…
Aleo's headquarters is in Reno, Nevada, USA.
Investment fund into Aleo:
Investor interest in ZK technology and the Aleo project is very high. From 2 funding rounds, the project has successfully raised $298 million.
See at: https://www.crunchbase.com/organization/aleo-673f/investor_financials
Aleo has many community development policies & incentives such as:
Aleo Ambassador Program: Aleo ambassadors tasked with promoting the brand to the community.
Aleo Feature Bounties: Rewards for community members with ideas to add features to Aleo, securing the network.
Community Grants Program: A fund to encourage projects running dapps on the Aleo network.
Incentivized Testnet: A reward fund for those who participate in early network operations (early mining).
ZPrize Competition: A competition to develop and research ZK technology. A reward of $2M and the opportunity to collaborate with leading projects.
ALEO Token Allocation
ALEO is expected to be allocated as follows:
At the initial time:
Early Backers: 57%
Team: 20%
Public: 15%
Grants: 8%
After 5 years of operation:
Early Backers: 33%
Team: 11%
Public: 55%
Grants: 1%
How to own Aleo?
The project does not sell initial coins; to have Aleo at this time, one must participate in operating, securing the network, mining, and participating in programs organized by the Aleo team.
Above are some basic information about the Aleo project. This year, the project is expected to launch its coin and sell on the exchange, at which point you can consider adding it to your investment portfolio. Or you can mine it now.
All for informational purposes only, and not investment advice.
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