What's up Feed Fam!
Welcome to the newest Episode of the #ALEO Pulse, your one-stop hub for all things on ALEO😎
From today, I have decided to revise some things around this edition of ThePulse, so you guys get the chance to learn much more about Aleo, instead of some technical updates🙈
So, Here's the Roadmap for this Week's topics.
1️⃣Aleo | The Godfather of Truly Private Applications
2️⃣Leo Language and SnarkOS Explained.
3️⃣ Usages on snarkVM and AleoPM
4️⃣Unleashing the Beast of zk | Aleo Studio
And more to come up😉
So Let's Start with Today's Topic:
1️⃣Aleo | The Godfather of Truly Private Applications
In 2009, Bitcoin was born, to become the true financial asset for humanity, expanding from a small crowd at BitcoinTalk to ETFs and Legal Tenders to adopt mass adoption.
As transparency began to grow in the blockchain industry, so did the issues related to privacy👀
As the First privacy blockchain, Monero was formed in April 2014, but Monero's capability was not enough to cater to the concept of truly private applications which have been highly in demand in the dApp Space.
Finally, came the solution, which is known as Aleo😎
So, What makes aleo different from other privacy blockchains🤔
Let's find out.
Aleo uses zk(Zero Knowledge Cryptography) to protect user data on the web by leveraging blockchain technology🤯
Aleo will revolutionize the internet by bringing truly private web data
Wait!
What are ZK Proofs?
Simply speaking, zero-knowledge proof is the cryptographic approach where one entity proves something to another entity that is true, but without revealing how it's true🤯
You might ask, so if ZK is that huge, why don't we see it in real-life applications?
To be exact, some blockchains are highly programmable, but with less privacy.
Imajin seeing a blockchain that is highly programmable and with the best privacy👀
You got me right! Aleo will solve this problem becoming the first privacy blockchain that can provide highly private and programmable dApps to mankind.
Let's take a real-life scenario :)
Let's say there is a perpetual trading DEX called zkDEX.
If zkDEX was deployed on a normal blockchain, other users can trace action on the blockchain as it is fully open to the public.
But, if zkDEX was deployed on Aleo,
➡️Users can trade with 100% anonymity.
➡️Transfer assets 100% anonymously, but leave a track record on the blockchain indicating this task happened.
E.g./ Someone Shorted $BTC (Doesn't show which address or DeFi platform was used), but will update funding fees, interested rates, liquidation prices, etc. real-time.
Even the Aleo Core team doesn't know what happened🤫
That's a brief overview of how aleo works for the average Joe.
Moving forward!
The Aleo ecosystem consists of the following components.
1️⃣Leo language - The Native programming language on Aleo
2️⃣AleoStudio- The OG IDE leveraging programming on Aleo
3️⃣Aleo Package manager- Similar to Rust crates and NPM packages, but done with ZK
4️⃣snarkOS - The OG decentralized operating system, which runs the Aleo blockchain and all Leo programs.
Now, to the most anticipated section👀
Funding and Tokenomics
Aleo has currently conducted three funding rounds.
1️⃣Series A - raised 28M USD from the Tier-1 VCs such as Polychain capital, a16z crypto, slow ventures, Placeholder, and many others.
2️⃣Series B - raised a whooping 200M USD from a16z, SoftBank, Kora management, Tiger Global, Samsung Next, and others.
3️⃣Series B+ - raised 70M USD from Samsung NEXT, SoftBank, and Vision Fund.
This brings total funding to 298M USD😎
Tokenomics👀
Genesis Supply: 1B Aleo Credits (Which I will refer to AC from now on)
The inflation Schedule is as follows👇
Year 1-3 --> 100 AC/block
Year 4-6 --> 50 AC/block
Year 7-9 --> 25 AC/block
Beyond the 9th year --> 12.5 AC/block
Aleo credits will be utilized for the following purposes⬇️
➡️Block rewards are awarded to the miners
➡️For transaction fees in the Aleo blockchain
➡️To pay provers live on Mainnet
Here's a breakdown of the emission
At Genesis, the token distribution is expected to be as follows👇
57% --> Early Backers
20% --> Team members
15% --> Public
8% -->Token Grants
it's also worth mentioning that Aleo has conducted 3 Testnets as of now, more info on that later!
For now, Here I wrap up!
See ya Tomorrow, with the next episode, Leo Language and SnarkOS Explained.🫡
