What is ALEO
What is Aleo? Before explaining this clearly, I need to talk about the background of Aleo’s birth.
Internet privacy concerns:
There is no privacy on the blockchain at all.
As blockchain data analysis companies become more and more professional, coupled with the requirements of many exchanges for user KYC real-name authentication, it is now easy to bind a person's real identity with his Web3 identity. Moreover, almost all blockchains are currently open and transparent. Users have no choice but to disclose their account balances, transaction information, and every move on the blockchain. This is like disclosing all your social media, Uber taxi records, Google search records, and emails to others. Imagine that you live in a house with only glass walls but no curtains. Everyone who passes by your house can see what you have and what you do. This is the price of Web3 without privacy.
Since blockchain data cannot be deleted once it is made public, your exposed privacy will remain on the blockchain forever.
Aleo was born to solve the pain point of privacy. Starting from the most indispensable privacy of Web3, it allows Web3 users to have a truly personalized and absolutely private Web3 world experience.
Aleo is an application development platform that provides complete privacy.
Aleo is a private, open source, public blockchain built for Web3.
It takes a whole new approach to security, privacy, and data ownership!
Aleo not only has the high scalability and editability of Ethereum smart contracts, but also has the privacy of Zcash. As a product that integrates Ethereum and Zcash (which once surpassed Bitcoin), it solves the biggest challenges in the history of blockchain: privacy and scalability. After 6 years of hard work, Aleo combines zero-knowledge to provide a full-stack solution to ensure that every layer of the application stack is programmable, usable, and decentralized for private computing. And from the Leo programming language, Aleo Studio development environment, tool side, RPC, etc., ordinary programmers in Web2.0 who do not understand encryption algorithms can easily, quickly and efficiently develop, deploy and sustain privacy-protected applications, etc., accelerating the arrival of Web3.0 - the world's first fully private application development platform!
Aleo’s Team and Funding
The birth of Aleo is inseparable from some researchers from famous Web3 institutions such as Berkeley, Cornell, and Zcash, who have deep attainments in the field of zero-knowledge proof. Howard Wu, the founder of Aleo, has had a close research collaboration with them for several years. In this field, they have always been at the forefront of the world. Aleo stands on the shoulders of giants. It integrates the most cutting-edge and most promising zero-knowledge proof technology in the current Web3 industry. The founding team of Aleo was established in 2019.
CEO, CTO & Co-founder Howardwu is a cryptography legend and a top student. Graduated from the University of California, Berkeley. Berkeley is a prestigious college in the field of computer science. It is extremely difficult for the public to enter. However, he studied at Berkeley with a bachelor's and master's degree and obtained a dual master's degree in applied mathematics and computer science. Howard has been studying blockchain technologies such as Bitcoin since 2011, and has made some contributions to the code bases of Ethereum and Zcash. Later, he co-authored the paper "Zexe: Realizing Decentralized Private Computing" with his friends. Once published, it caused a huge response in the industry, just like the white paper written by Satoshi Nakamoto for Bitcoin. It can be said that this paper laid the foundation for Aleo's current .
The Aleo team is a world-class team. Even in the fast-paced Web3 industry, the Aleo team's execution is the most impressive.
After spending nearly two years developing the underlying blockchain framework, Aleo completed a $28 million Series A financing in April 2021, led by a16z, with participation from Coinbase Ventures, Galaxy Digital, Polychain Capital, Zero Knowledge Validator, and former Coinbase CTO Balaji Srinivasan. Then on February 7 of this year, Aleo announced the completion of a $200 million Series B financing, with an equally luxurious investment lineup, led by Kora Capital and SoftBank Vision Fund, and participating investors a16z, TigerGlobal and SeaCapital, Samsung Next, and SlowVentures. At the same time, Aleo's valuation has also reached an impressive $1.45 billion, which is the highest valuation of a zero-knowledge privacy project to date, and has attracted widespread attention in the Web3 industry.
a16z, known as the "investment vane" of Web3, has continued to invest in Aleo, which is enough to show how popular Aleo is in the primary market. In addition, it is worth mentioning that the US$200 million in Series B is also the largest round of financing in the Web3 zero-knowledge track to date.
Aleo now has a large amount of funding to help them develop multiple focus directions, such as growing the team, growing the ecosystem, attracting other protocols and users, and creating a learning center, Matter University.
Project name: Aleo
Online time: expected in the first quarter of 24
Expected listing: Top five exchanges
Official website: https://ALEO.org/
Twitter: https://twitter.com/ALEOHQ
Discord：https://discord.gg/ALEOhq
GitHub：https://github.com/ALEOHQ
Blog：https://www.ALEO.org/blog
Aleo App Tools
Aleo is an open blockchain network where developers can develop the privacy applications they want. To this end, Aleo provides a wealth of infrastructure and development tools. Among them, the Leo programming language and snarkOS are the most popular.
Leo language is a programming language developed by the Aleo team, which is specially used to write privacy applications. It is very easy to use, and developers do not need much cryptography knowledge to learn how to use Leo.
Looking at the entire industry, there are only a handful of blockchain projects that can independently develop a programming language for their own blockchain ecosystem, which is enough to show the strong technical strength of the Aleo team. snarkOS; you can think of snarkOS as an Apple or Android operating system in your phone, just like the various apps in your phone now. In the future, you can run a variety of blockchain applications on it. Unlike other blockchain projects, Aleo will bring strong versatility and privacy to these applications.
Project token economic model
The ALEO token is the native digital currency of the ALEO platform, and its purpose is to drive transactions, smart contracts, and network governance to incentivize participants, protect the network, and ensure the sustainability of the platform. The token economic model includes rewarding network participants (such as validators and miners) and adopting a token distribution mechanism that is consistent with the growth and adoption of the project. To ensure the security of the network, the Aleo team set a relatively high inflation rate in the initial stage and carried out two halvings in the first ten years. After the final halving after nine years, 12.5 Aleo tokens will be released per block to ensure the security and economic stability of the network.