Students, all your questions about Aleo are here! Take a look! Don’t forget to retweet and like after reading it! ❤️
Aleo basic information:
Official Twitter: @AleoHQ
Official website: aleo.org
Total token supply: 3 billion, initial circulation: 1.5 billion
Token: $Aleo Price: Unknown
Mainnet time: Official announcement in the first quarter of 2024 (February or March)
It is expected to be listed on the stock exchange: both the first and second tiers will be online
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Aleo is a developer platform for building fully private, scalable, and cost-effective applications. Using zero-knowledge cryptography, Aleo moves smart contract execution off-chain to enable a variety of decentralized applications that are both completely private and scale to thousands of transactions per second. To achieve this goal, Aleo has launched many unique tools and software.
snarkVM: decentralized virtual machine
snarkOS: operating system
Leo: a dedicated programming language that includes ZK functionality
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1/n Financing status
Completed Series A financing of US$28 million in April 2021
Completed Series B financing of US$200 million in February 2022, with a valuation of US$1.45 billion
The investors are as follows:
2/n development history
In 2019, Aleo was established
On August 19, 2020, it was officially announced that the developer version would be launched.
Early 2021, official Aleo Discord server launched
On April 20, 2021, Series A financing raised US$28 million
On June 3, 2021, it received a US$1 million grant from the Ministry of Finance to launch the Aleo Community Rewards Program and Leo Programming Competition.
On August 16, 2021, Aleo setup (mining) officially started, and Testnest1 went online at the same time
On December 6, 2021, the incentivized test network Testnet2 was officially launched, with more than 10,000 nodes and millions of zero-knowledge proofs generated.
On February 7, 2022, Series B financing amounted to US$200 million
In March 2022, Aleo launched the ambassador program and Testnet3 is ready to go online.
On August 19, 2022, Aleo Discord officially announced that the three testing phases of Aleo Testnet3 will be postponed.
On November 10, 2022, Aleo network launched the second phase of three tests
On January 24, 2023, Aleo released the 2023 roadmap
On March 30, 2023, Aleo released a summary of the second phase: more than 94 countries, 44,000 provers connected to the network
On May 2, 2023, Aleo announced the deployment of incentives, totaling: 5 million Aleo points
May 22, 2023 Aleo Tools and Infrastructure Grant Program Announced
May 30, 2023, Aleo Bug Bounty Program Announced
Aleo deployment incentives launched on June 21, 2023
August 29, 2023, launch of Aleo’s new logo
October 31, 2023, Testnet 3 third phase deployment incentive review (6 million points allocated)
On December 20, 2023, the establishment of the Aleo Network Foundation was announced, a new chapter
On December 29, 2023, Aleo completed the security audit of snarkOS and snarkVM
In January 2024, the second stress test will be launched
On January 17, 2024, a community call indicated that a semi-official Mainet celebration would be held from February 29 to March 2.
On January 19, 2024, in DC, Alex said that the previous POSW algorithm had loopholes and was game-like, and a new POWS algorithm would be released in February.
On January 25, 2024, Aleo temporarily closed Aleo’s faucet test coin
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3/n Aleo points introduction (points = coins)
Aleo Credits allow users and developers to secure verification and data services on the decentralized network and compensate service providers for their work, benefiting the entire Aleo open source ecosystem.
Points use:
grant access
Create incentives
Enable staking
Promote governance
Points distribution
Tokenomics
The latest token economics are not currently public, but several key pieces of information can be gleaned from the latest code. (Personal analysis by Xiao Fan)
The coinbase reward ratio between POW and POS is half and half. Official Source: Provers provide 50% of the Coinbase solution reward to validators to incentivize their participation and reward receipt.
Link: aleo.org/faq/?mtm_campa…
The block reward is: 23 points per block.
The genesis block will include approximately 1.5 billion points in initial circulation of tokens, and the specific locking and release mechanisms are unknown. [This is very important]
About 40 million Testnet2 and Testnet3 were distributed. There were only 3.7 million miners in the second phase of the third test, and the rest were given to ecological people.
A validator needs 1 million points to start, and the 55 validators announced in the early stage will require: 55 million points. Including the issuance of 40 million points, the points circulating in the market are approximately: 100 million
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4/n Aleo’s three roles and AleoBFT consensus mechanism
Stakers: Stakers lock points to help validators participate in consensus and protect the network
Prover (Miner): Use specialized hardware to generate proofs and solve puzzles, and are rewarded with Aleo points
Validator: Run nodes, verify transactions and participate in consensus to add new blocks, receive fees and rewards (1 million points are required to become a validator)
AleoBFT is a novel consensus algorithm tailored for Aleo based on Bullshark/Narwhal.
Official details: aleo.org/faq/
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5/n Aleo’s official minimum mining machine configuration
Official link: github.com/AleoHQ/snarkOS
The official will launch the latest POSW algorithm in February 2024, which will seal previous loopholes. This is of vital reference significance for the selection of mining machines.
Regarding the selection of Aleo mining machines:
1. Since the chip machine will be on the market, when choosing a GPU graphics card machine, you need to consider the impact, depreciation and recycling of the chip machine after it is launched.
2. The chip machine will be available 6-8 months after the main network, and mass production will take more than 10 months.
3. Choose a cost-effective graphics card for your graphics card, such as 3080 and 3080Ti, which are good choices. The following is reference information for testing graphics cards with ZKLION hoe
4. Whether to choose Intel or AMD for CPU, few cores or many cores, you can wait until the new algorithm comes out. It will be compatible with more other mining and AI computing power rentals in the future. It is also a good choice to consider multi-core and high-frequency CPU. (The rate of PCI 4.0 or 3.0 channel is an indicator of AI computing power)
5. If you choose a server-like chassis, you can enter the IDC computer room. Non-standard chassis can only be placed in the mine.
6/n Aleo ZK Ecosystem and Applications
zPass: A privacy-focused solution that allows users to securely prove identity to third parties using pre-verified documents, user data, and digital signatures without revealing more personal information than you need. For example, proving to a cryptocurrency exchange that you are over 18 and a resident of a country without actually providing your name or date of birth.
Neural Networks in zkSNARKs (ZKML): Aleo has launched a converter that makes it easy to convert Python machine learning models into Leo code. Leveraging the power of ZK, models can access and train sensitive data such as health or financial information without revealing the specific information to outsiders.
ZKGaming Toolkit: The beginning of a full-fledged gaming toolkit for building games using open source zero-knowledge proofs. The initial toolkit features a verifiable randomization engine, zero-knowledge powering, proof generation, and in-game state aggregation.
Leo Wallet: is a privacy-preserving wallet for the Aleo network that guarantees confidentiality through the ability to generate zero-knowledge proofs directly in the browser. It also provides developers with a platform to create, deploy, sign and deliver privacy-focused programs.
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7/n How does Aleo participate?
I will teach you how to play airdrops in the next thread. Although the official says there are no airdrops, you can interact with them at zero cost.
Purchase a mining machine and mine directly when the mainnet is launched.
The second step is to take orders from the market and buy Aleo’s spot after listing on the exchange.
Those who know development can write Dapps in LEO language and get official rewards.
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8/n Aleo third-party ecosystem
The Aleo ecosystem is booming, and there will be hundreds of projects when Aleo is launched, which will be introduced in detail in the next thread.
