What is Aleo?

Aleo is a blockchain platform project used to build dapps that help users have a private web experience.

What is Aleo?

Aleo is a blockchain platform project 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.

In the next few years, network services will become very popular, and it will be important for users to control their personal information.

Aleo believes that it is obsolete for users to exchange personal data for free services, and the project aims to change this by using privacy-preserving technologies. In particular, the highlight is ZK (zero knowledge) encryption technology.

Highlights 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:

• Increase web security: Instead of leaking passwords, users can encrypt and log in on the device without sending the password. This also reduces the cost of access control and reduces the liability that web services incur today.
• ZK technology is suitable for web services: Today when using web services, users often have access to personal data and web service providers can sell this information to 3rd parties This is a rather serious unresolved problem.
• ZK technology makes web services fair: Users need to be able to interact with network services without revealing information, as well as have freedom in the use of data.

Aleo is a separate blockchain, so it also uses its own programming language called Leo.

A programming language inspired by Ethereum’s Solidity language, Leo is designed to write applications that are private, run smoothly on the web, and ensure user data is not stolen.

In addition, Leo has a lot in common with Javascript and Typescript, developers fluent in these languages will have easy access to Leo.

Aleo team also released Aleo Package Manager (PM) similar to Cosmos SDK to make it easier for project developers to build dapps on Aleo.

Aleo uses the Proof of Succinct Work (PoSW) consensus mechanism: a variant of Bitcoin’s SHA-based difficulty adjustment algorithm, the main difference being that the underlying computation is not an arbitrary hash function but a proof of knowledge.

Thus, Aleo also has a similar mining mechanism with BTC.

Fees on the Aleo network are also precalculable, users will know how many Aleo points (Aleo credits) are needed to run a regular dapp. Unlike Ethereum, Aleo does not use the concept of gas.

Benefits of holding ALEO tokens

ALEO is the native token of the Aleo blockchain, this token has the following uses:

• Native token, representing value and growth in the ecosystem.
• Use as a transaction fee on the network.
• Use for activities in dapps on Aleo.
• Reward miners, use as a system to encourage participants to contribute to the security of the network.
• Earning offers is the same as accumulating AWS credits for cloud service usage.

Project team, investors, partners

Project team

Aleo was founded in 2019 by original members Howard Wu, Michael Beller, Collin Chin and Raymond Chu.

These are all engineers, cryptographic researchers, partners of many large enterprises in the world such as Google, Amazon … and a number of universities such as NYU, Cornell University, University of California …

The Aleo project team mainly operates directly with headquarters in Reno in the state of Nevada, USA. Information about team members is posted on Linkedin.

Investors

Aleo’s idea of applying ZK technology has received a lot of attention from investors, the project has successfully called for 2 rounds of capital with a total amount of 228 million USD.

Series A

• Publication date: August 20, 2021
• Funding amount: 28 million USD
• Investors: a16z, Placeholder VC, Galaxy Digital, Variant Fund, Polychain Capital, Slow Ventures, Dekrypt Capital, Coinbase Ventures…
• Leading investor: a16z

Series B

• Publication date: 7/2/2022
• Fundraising amount: 200 million USD
• Investors: Tiger Global, Sea Capital, Samsung Next, Slow Ventures and Andreessen Horowitz (a16z)…
• Leading investors: Kora Management LP and SoftBank Vision Fund 2

Partner

Aleo will tend to collaborate with projects that can use its technology, the first project to announce a partnership with Aleo is Forte, a blockchain game development company.

Aleo x Forte

Roadmap & Updates

Since its launch, Aleo has quite a few community development programs:

• Aleo Ambassador Program: Reward Aleo ambassadors who help spread the word about the project, increase awareness…
• Aleo Feature Bounties: The program encourages community members to suggest ideas for features of the Leo programming language.
• Community Grants Program: Awarding and encouraging projects using ZK technology and building dapps on Aleo. A total of about 1 million USD will be earmarked for this program. To date, only one project, Pine Street Labs, has received money from this fund.
• Incentivized Testnet: The program encourages users to participate as network operators.
• ZPrize Competition: ZK technology research and development competition. The prize of this contest is 2 million USD and the opportunity to collaborate with leading teams in the industry such as Ethereum Foundation, ZCash Foundation, Mina, Aztec.

In the near future, Aleo will deploy Testnet 3, if nothing changes, Aleo can move to the mainnet in Q1/2023.

Detailed information about ALEO token

Key Metrics ALEO Token

• Token Name: Aleo Token
• Ticker: ALEO (tentative)
• Blockchain: Aleo Blockhain
• Token Contract: No
• Token Type: Utility Token
• Total Supply: Updating…
• Circulating Supply: 0

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%

ALEO Token Release Schedule

The community allocation rate as well as the initial inflation of ALEO is quite high to favor early users joining the network. ALEO is amortized according to the following inflation curve:

ALEO Token Sale

The project is not open for token sale.

How to earn and own ALEO Token

Users can own ALEO tokens by participating in operations, network security, mining, participating in programs organized by Aleo team.

ALEO Token exchange & storage wallet

Updating…

Similar projects

Projects using ZK technology: Mina, Aztec, ZCash, ZkSync…

Information channels of Aleo:

• Twitter: https://twitter.com/AleoHQ
• Discord: https://aleo.org/discord
• GitHub: https://github.com/AleoHQ
• Community wiki: https://aleo.org/community/wiki

Summary

Another project using ZK technology received the attention of both the community and investors, successfully raising $228 million. This also shows that ZK technology has a lot of potential to become the core technology of the future.

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