Although the encryption market is currently in a bear market, miners still pay close attention to the ALeo project, which is likely to break the encryption winter. At present, the incentive plan for the phase 2 of the Aleo test has been finished.
Next, let's take a deep look at the most promising new star project - Aleo.
What is Aleo? What can it bring to users?
Aleo is the first platform to offer fully private applications. It uses a decentralized system and zero-knowledge cryptography to provide users with unlimited computation and absolute privacy. Aleo is uniquely positioned to address the shortcomings of blockchains by defaulting to a private, open-source, web-based blockchain. Using Aleo, users can access a truly personalized web service world, which not only retrieves data from large companies and large platforms, but also manages their own data.
Aleo's current stage
Aleo has finished the testnet 1 and the testnet 2, and the Prover incentive plan for the phase 2 of the testnet 3 also ended at 23:29 UTC on January 31 (07:59 on February 1, Beijing time). A total of 44,000 nodes joined the test network this time, and more than 5 billion proofs were submitted per second. At this stage, a total of more than 3.1 million Aleo points have been mined.
The next time, the official will follow this plan, as follows:
⭐ Deploy & Execute will be enabled next, allowing devs to launch private applications on-chain.
⭐ Staking starts in February (similar to the test phase before the formal incentives of the testnet 3 and phase 2, no rewards).
⭐ The phase 3 of Testnet will start in March and provide an incentive plan, which is expected to end in May (the details of the three-stage rewards have not yet been clarified)
⭐ In June, the final preparations for the mainnet audit and emphasis on testing will be made
⭐ Mainnet launched in July
The full of official roadmap can be accessed here
Aleo financing amount
Aleo has an extremely luxurious investment institution, and its valuation has reached 1.45 billion US dollars. The lead investor in the A round is the well-known A16z, whose crypto investments include Coinbase, Sloana, Protocol labs, OpenSea, etc. B-round investment institutions are not limited to encrypted investment institutions, but also include traditional investment institutions such as SoftBankVision, TigerGlobal, SamsungNext, etc. Aleo’s Series B round of financing is the largest ever round of financing in the zero-knowledge industry.
Aleo's Project Highlights
（1）Web3 privacy public chain head project: Layer 1 public chain + privacy computing + poSW mining.
Privacy computing is a hot technology in the Internet and blockchain fields, with high growth and high valuation, and the privacy track is difficult to popularize. The project created the largest round of financing in the field of zero-knowledge proof, with two rounds exceeding 228 million. The investment institution is luxurious and recognized by traditional VCs.
（2）Zero-knowledge proof requires a strong technical team with a high-quality team composition and top-notch technical capabilities to guarantee the project.
The Aleo team is composed of world-class cryptographers, engineers, designers and operators from companies such as Google, Amazon and Facebook, as well as research universities such as UC Berkeley, Johns Hopkins, NYU and Cornell .
（3）Privacy can be compared to Zcash: the transaction only includes the proof, not the input that generated it.
（4）The support for smart contracts can be compared to Ethereum: ZEXE supports smart contracts and interacts in a predefined way.
（5）There is no concept of Gas fee, and the cost is controllable: In zkCloud, the running program is carried out off-chain, and the points spent on the Aleo network can be calculated in advance, and there is no unpredictable cost caused by Gas.
in conclusion
Although the blockchain is currently in a bear market, this has not stopped Aleo from moving forward. The official has made it clear that the task of this year is to ensure the successful launch of the Aleo mainnet and bring zero-knowledge technology to the public.
Aleo can be said to be the product style closest to miners’ psychological expectations in the privacy track at present, because the lack of privacy in current privacy projects is definitely not privacy, but the high cost of privacy and the poor user experience brought about by more complicated processes , so the privacy track is difficult to popularize. Furthermore, Aleo satisfies the three major characteristics of Daniel team + strong technology + capital bonus. It can be seen that Aleo is a public chain project worthy of attention。
About DamoMiner
DamoMiner is a simple and easy-to-use mining software tailored for Aleo miners. The Aleo mining service it provides does not require miners to build nodes, and the mining machine can directly run the software to achieve solo mining.
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