What is the ALEO favored by 19 institutions in ZKP’s largest funding round ever?
Abstract
Privacy, programmability, and scalability have always been the “impossible triangle” of blockchain, restricting the rapid development of blockchain, especially Defi, and Aleo is the first public chain in the world to use zero-knowledge proofs to solve the privacy problem while guaranteeing programmability and high scalability by utilizing the ZKP technology, in particular zk-SNARKs. and highly scalable public chain.
About Aleo
Aleo was born out of a seemingly impossible desire to create a truly personal and truly private user experience on the web.
Before Aleo, there was no public chain or underlying logic system that could achieve user privacy based on programmability and extensibility. The emergence of the blockchain provided great financial access to users, but the transparency of transactions also deprived users of the right to privacy of their money.
The reasons for this are very complex, both the conflicting nature in the underlying logic of the blockchain that leads to the inability to verify, and the original programming language that cannot support all three. Aleo was also able to break the fastening thanks to a programming language developed specifically for Aleo: Leo.
Aleo became the first platform to offer a completely private application.
Aleo achieves this by leveraging a decentralized system and zero-knowledge encryption to protect user data on the network.
Built to be private by default, open source, and built for the web, we believe Aleo is uniquely positioned to address the shortcomings of blockchain adoption. With Aleo, users can access a truly personalized world of Web services without having to give up control of their private data.
As Aleo’s goal is expressed: at its core, Aleo is about providing users and application developers with unlimited computing with absolute privacy.
Aleo is getting infinitely closer to that goal!
Further talk about consensus, Aleo consensus mechanism — PoSW
Let’s talk about what is PoSW consensus mechanism, in fact, it is very easy to understand, literally it is not difficult to see, this is the combination of the two mechanisms of POS and POW, but the clever thing is that PoSW is not a crude sewing monster, but a kind of “remove the dregs, take the essence of the process”.Aleo through the unique AleoBFT consensus algorithm, so that PoSW balances the security of POW and POS low energy consumption + high efficiency characteristics, becoming a new AleoBFT consensus algorithm, so that PoSW balances the security of POW and POS low energy consumption + high efficiency characteristics, to become a new high-efficiency and low energy consumption of the proof of work — called “PoSW”.
i.e.: Simple Proof of Work
PoSW provides the Aleo network with the same level of security as Bitcoin’s PoW.
However, while Bitcoin’s PoW algorithm is used to compute the SHA256 function, Aleo’s PoSW algorithm is used to compute SNARK, which allows PoSW to act as a POS to ensure the system’s consensus, as well as validate all transactions contained in blocks on the chain. This approach effectively allows PoW and PoS to coexist, drawing on the strengths of both mechanisms.
In the second phase of the Aleo Test Network 3, Provers were formally introduced and enabled the AleoBFT consensus mechanism, also known as PoS, to achieve instant certainty in block confirmations and to use PoW to incentivize the development of faster proof generation techniques.
Aleo’s key technical features:
The programmability and privacy-preserving nature of the Aleo platform gives it a unique advantage in decentralized application development. aleo’s smart contract programming language, Leo, provides a secure and efficient development environment that supports large-scale transaction processing without sacrificing user privacy.
Innovative technology in snarkVM and snarkOS:
Aleo’s snarkVM is a virtual machine that executes trusted transactions while maintaining privacy, while snarkOS provides a secure and scalable infrastructure for dApps. These technologies increase the availability and security of the Aleo network.
Aleo Studio Development Environment:
Aleo Studio is an interactive development environment designed for writing zero-knowledge applications. Its simple and intuitive user interface and instant preview features provide developers with powerful support that makes developing zero-knowledge applications more efficient and easier.
Summary:
Aleo is strategically important in the cryptocurrency market as a privacy-preserving platform based on ZKP technology. It not only provides a high degree of privacy protection and security, but also provides a wide space for the future development of decentralized applications through its innovative technical features. With the continuous development of blockchain technology, Aleo’s future development space is worth looking forward to. Pay attention to its activities and participate early by contributing early.
