I. What is Aleo?
Aleo is the first platform to offer completely private apps. Aleo leverages decentralized systems and zero-knowledge cryptography to provide users of unfettered computing with absolute privacy.
By architecting a private blockchain by default, open source, and built for the web, Aleo is uniquely positioned to address the shortcomings of blockchain adoption. With Aleo, users have access to a world of truly personalized web services without having to give up control of their personal data.
II. History of Aleo
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III. Striking Features of Aleo
Aleo is a project that applies ZK technology, which can provide users with more choices and reduce the risk of data theft. The outstanding advantages of ZK encryption technology:
- Boost web security: Users can encrypt and log in on the device without transferring the password, instead of revealing credentials. Additionally, this lowers the expense of access control and the liability that web services currently face.
- Web services are suited for ZK technology: Users today frequently have access to personal information when utilizing web services, and web service providers may sell this information to third parties. There is a very severe unresolved issue here.
- ZK technology ensures fairness in web services: Users must have the freedom to interact with network services without disclosing any personal information.
Since Aleo is a distinct blockchain, it also employs Leo, another programming language. Leo is a programming language modeled after Ethereum’s Solidity language that enables developers to create secure, private web applications that don’t compromise user data.
Additionally, Leo and Javascript and Typescript share a lot of similarities, which makes it simple for developers who are proficient in these languages to work with Leo. To make it simpler for project developers to create dapps on Aleo, the Aleo team have published Aleo Package Manager (PM), which is comparable to Cosmos SDK.
The Proof of Succinct Work (PoSW) consensus method is used by Aleo. It is a variation of the SHA-based difficulty adjustment algorithm used by Bitcoin, with the primary distinction being that the underlying calculation does not use a random hash function. however, evidence of knowledge. As a result, Aleo and BTC share a mining system.
Users will be aware of how many Aleo points (Aleo credits) are required to run a typical dapp thanks to the precalculable nature of fees on the Aleo network. Aleo does not employ the idea of gas, in contrast to Ethereum.
IV. Core Technology of Aleo
Aleo applies a decentralized system and unique technique “Zero knowledge proof” to protect user data on the web.
Aleo will structure its platform based on the blockchain system in a private-by-default direction to address the shortcomings of blockchain adoption and help users get Browse the web completely to your liking without losing control of your personal data.
The problem that Aleo solves
Currently, if your data is online, someone will definitely “own” it. The current business model is to provide free services to users in exchange for their private data (Facebook, Google, …). This model (Web 1.0 and 2.0) is outdated and will cause users to conflict with providers.
Users are forced to provide their data in exchange for the service they want, which means loss of privacy. Providers assume the risk that when managing user data in order to provide their services, they face the effects of storing, processing and reporting such data. However, with Aleo this needs to be changed. The project aims to make the environment for private browsing data a reality.
V. What is ALEO Token?
1. Detailed Information about ALEO Token
- Token Name: Aleo Token.
- Ticker: Updating…
- Blockchain: Ethereum.
- Token Standard: ERC20.
- Contract: Updating…
- Token Type: Utility.
- Total Supply: Updating…
- Circulating Supply: Updating…
2. ALEO Token Allocation
ALEO is expected to be distributed proportionally as follows:
At the beginning:
- Early Backers: 57%
- Team: 20%
- Public: 15%
- Grants: 8%
After 5 years of operation:
- Early Backers: 33%
- Team: 11%
- Public: 55%
- Grants: 1%
3. ALEO Token Noticeable Milestones
Aleo token release schedule:
4. Use Cases of ALEO Token
The native token of the Aleo blockchain is called ALEO, and it can be used for the following things:
- Native token that symbolizes the ecosystem’s value and expansion.
- Use as a transaction fee on the network.
- Use for dapp activities on Aleo.
- Use a system of rewards for miners to incentivize users to support network security.
- Accumulating AWS credits for using cloud services equates to earning offers.
VI. How to earn & own (Project Token)?
Users can own ALEO tokens by participating in operations, network security, mining, participating in programs organized by Aleo team.
VII. Which Crypto Wallets are suitable for (Project Token)?
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VIII. ALEO Token Recent Developments
Roadmap & Updates
Since its launch, Aleo has quite a few community development programs:
- Aleo Ambassador Program: Recognizing Aleo ambassadors that promote the project and raise awareness…
- Aleo Feature Bounties: This initiative invites community members to submit suggestions for new Leo programming language features.
- Community Grants Program: Providing funding and support for initiatives utilizing ZK technology and creating dapps on Aleo. For this program, a total of around $1 million USD will be set aside. This fund has only ever given money to one project, Pine Street Labs.
- Testnet with incentives: The initiative encourages people to take part as network administrators.
- Technology research and development competition for the ZPrize. The winner of this competition will get $2 million USD in addition to the chance to work with top organizations in the sector, including the Ethereum Foundation, ZCash Foundation, Mina, and Aztec.
In the near future, Aleo will deploy Testnet 3, if nothing changes, Aleo can move to the mainnet in Q1/2023.
IX. Teams, Funds & Partners of (Project Token)
1. Team
The company was officially founded in 2019 by Howard Wu, Michael Beller, Collin Chin and Raymond Chu. The team includes world-class cryptographers, engineers, designers and operators from companies like Google, Amazon, Facebook and research universities like UC Berkeley, Johns Hopkins, NYU and Cornell.
Advisor of Aleo coin project
The company was officially founded in 2019 by Howard Wu, Michael Beller, Collin Chin and Raymond Chu. The team includes world-class cryptographers, engineers, designers and operators from companies like Google, Amazon, Facebook and research universities like UC Berkeley, Johns Hopkins, NYU and Cornell.
2. Investment Funds & Partners
Aleo has announced that it has raised $28 million to build a next-generation platform for private, decentralized applications. The investment round was led by Andreessen Horowitz (a16z) with participation from Placeholder VC, Galaxy Digital, Variant Capital and Coinbase Ventures.
Other notable investors include Polychain Capital, Slow Ventures, Dekrypt Capital, Scalar Capital, acapital, zkValidator, Balaji Srinivasan, and Ethereal Ventures, a new venture fund founded by Joseph Lubin.
X. Where can Aleo information be updated?
Currently, Crypto users can fully consult, research, and analyze information about ALEO through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of ALEO and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
Conclusion
In conclusion, Aleo is a blockchain-based project that is used to build dapps that help users have a private web experience. By designing Aleo to be a private-by-default, open-source blockchain, the project believes that Aleo has important features to make blockchain more universal. .
For users, Aleo introduces new experiences that are both truly personal and truly private. And for developers, Aleo introduces a programming model that integrates with existing web applications. Aleo’s groundbreaking approach to security technology has garnered widespread support from academic researchers, blockchain developers, web developers, and the open source community.
The above is Meta Lion’s comment on the Aleo project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.
