What is Aleo? Aleo is the first platform to offer completely private applications, using decentralized systems and ZK (Zero Knowledge) encryption technology. In addition, Aleo also raised $200 million USD in Series B funding round. So why is this project so highly valued! Let’s learn about Aleo and overview this project!
To understand more about Aleo, people can refer to some of the articles below:
- What is Layer 1? The Importance of Layer 1 in the Crypto Market
- What is Proof Of Work (POW)? Advantages, Disadvantages and Core Operating Mechanism of Bitcoin
Aleo Overview
What is Aleo?
Aleo is the first Blockchain platform to provide completely private applications by leveraging decentralized systems and ZK (Zero Knowledge) encryption technology. Therefore, Aleo provides users and application developers on the Aleo platform with absolute privacy. The Aleo platform is built based on two criteria: private-by-default and open source (Open Source).
So Aleo offers Ethereum’s flexibility, high scalability, and guaranteed privacy.
How Does Aleo Work?
Zero Knowledge (ZK): Aleo uses ZK encryption technology to achieve absolute privacy and programmability. Aleo uses this technology as a foundation and creates an additional new system called ZEXE (Zero knowledge EXEcution), this mechanism allows users to interact or pass values in a predefined way.
POSW (Proof of succinct work): Aleo uses the POSW protocol, which is a variant mechanism from Bitcoin’s POW (Proof of work), so Aleo also has a Mining mechanism similar to Bitcoin.
Leo programming language: Aleo creates the Leo programming language, which is inspired by Ethereum’s Solidity but Leo is designed to build highly private applications. In addition, the Leo language also has many similarities with JavacSript and Rust, so developers of this language can easily approach Leo.
Aleo Studio
Aleo Studio is designed as a space for developers, who can use the programming language to create ZK applications that launch within the Aleo platform. In addition, Aleo Studio also has the feature Aleo Packed Managerthis feature allows developers to easily share and edit their products without leaving the editor.
SnarkOS: Aleo runs on a decentralized operating system called SnarkOS. SnarkOS serves as the backbone of the information verification and state storage process on the Aleo platform. At the same time, it makes interaction easier with applications or smart contracts deployed on SnarkOS.
ZK Cloud
ZK Cloud is a solution that helps Aleo solve the difficulty of “Privacy”. ZK Cloud is an offline computing environment where programs operate privately, safely and with high security. Most Blockchains must prioritize either programmability or privacy, and so far no Blockchain other than Aleo can meet those two criteria. ZK Cloud is what helps Aleo make a difference.
The Aleo Difference
- Applying ZK encryption technology and improving it to ZEXE for the Aleo platform only
- The Aleo platform uses the improved POSW protocol from POW, with a Mining mechanism similar to BTC
- Its own programming language called Leo helps developers build highly private and secure applications.
- Aleo Studio and Aleo Packed Manager create a space for developers while increasing the convenience of sharing programming products
Development Roadmap
According to the latest update, in Q1/2023 Aleo will officially launch Mainet
Core Team
Austin H. (Technical Product Manager of Aleo)
- February 2023 until now he is Technical Product Manager at Aleo
- October 2020 – February 2021 he held the position of Technical Recuiter and Operations at NEAR Protocol
- From December 2019 to June 2020, he was a System Engineer at Coinbase
- He has more than 1 year of experience holding the position of IT Operations Engineer at Github 12/2018-10/2019
- From March 2013 to October 2018, he worked at Apple with the positions of Specialist, Building Automation Engineer, Expert.
Sina Kian (COO)
- From December 2022 until now she is COO at Aleo, from March 2022 to December 2022 she is chief strategy officer at Aleo
- December 2021 until now she is an associate professor at the University of Texas School of Law, and a consultant for SentiLink and Tech GC.
- From May 2020 to July 2021, she held the highest position at Kennedy Lewis Investment Management LLC
- She has 4 years of experience as Vice President at The Black Stone Group, a business that explores investment and provides capital to businesses in need.
- In addition, she also has 3 years of experience working at the Federal Court as a secretary.
Investor
- April 20, 2021: At the Series A round, Aleo raised $28 million USD from 14 investors and was led by A16z
- February 7, 2022: At the Series B round, Aleo was extremely successful when raising $270 million USD from 9 investors and led by SoftBank and Kora.
Tokenomics
Information About Aleo Token
- Token Name: Aleo
- Ticker: ALEO
- Blockchain: Aleo
- Token Standard:
- Contract: Update…
- Total Supply: Update…
- Circulating Supply: Update…
Token Allocation
At the beginning:
After 5 years:
- Early Backers: 57%
- Team: 20%
- Public: 15%
- Grant: 8%
- Early Backers: 33%
- Team: 11%
- Public: 55%
- Grant: 1%
Token Release
During the first 3 years after launching the project. Amount of Tokens distributed to the community and early project supporters. After the 9th year, the allocation level will balance and bring the network to stability.
Token Use Case
- Used as a fee in network transactions
- Pay compensation to Miner
- Incentive for activities in the ecosystem
Project Information Channel
- Website: https://www.aleo.org/
- Twitter: https://twitter.com/AleoHQ
- GitHub: https://github.com/AleoHQ
- Discord:
Summary
Aleo is a project with many special mechanisms such as ZK, POSW, SnarkOS,… so Aleo is highly private and secure. With nearly $300 million USD in capital calls from major investment funds, Aleo is one of the upcoming potential projects!
