Ethereum is an open and programmable blockchain platform that supports the construction and deployment of smart contracts and decentralized applications (DApps).
Although Ethereum is an innovative and powerful blockchain platform, it also has some flaws and challenges. Here are some common flaws of Ethereum:
Scaling issues: Ethereum’s current design has scalability issues, leading to network congestion and transaction delays. When the network is overloaded, transaction fees can increase significantly and transaction confirmation times are longer.
High transaction fees: Ethereum transaction fees are typically determined by miners and can be very high when the network is busy. This may limit the ability for small transactions and widespread adoption of smart contracts.
Security and vulnerabilities: Programming errors and vulnerabilities in Ethereum smart contracts can lead to serious security issues and even loss of funds. There have been some incidents of smart contracts being hacked in the past.
Fixed nature of blockchain: Ethereum’s blockchain is immutable, which means that once data is written to the blockchain, it cannot be easily changed. This can become a challenge in dealing with erroneous or unwanted data.
Energy consumption: Ethereum's consensus algorithm (currently proof of work) requires a lot of computing power and energy consumption. This leads to an increased demand for electricity and has a certain degree of negative impact on the environment.
Aleo, a leading developer platform, focuses on building privacy-preserving, scalable, and cost-effective applications. With cutting-edge zero-knowledge cryptography, Aleo moves smart contract execution off-chain to create decentralized applications that protect privacy while enabling thousands of transactions per second. The platform perfectly combines efficiency, programmability, and privacy, injecting new vitality into the development of Web3.0. Its unique privacy computing and data processing capabilities have brought revolutionary innovations to the field of blockchain technology.
Aleo Network Technology Advantages
●Performance advantage: Aleo uses zero-knowledge proof encryption technology to move smart contract execution off-chain, creating a new chapter in decentralized applications. These applications not only protect user privacy, but also achieve efficient expansion of thousands of transactions per second.
●Scalability: Aleo has created a new public blockchain, and the architecture optimization improves the flexibility of Ethereum. Miners do not need to repeat transactions, but only need to verify the correctness, which greatly improves efficiency.
●Programmability: Aleo launches a full-stack zero-knowledge proof solution, making ZK technology programmable at all levels of the application stack, helping to achieve large-scale decentralized private computing.
●Accessibility: The Aleo platform provides end-to-end tools to support the development, deployment, and sustainability of privacy-preserving applications.
● Security: Aleo uses advanced zero-knowledge proof cryptography technology to create a set of secure, compliant and fair Web standards. This innovation provides users with the option to "opt out of privacy", greatly reducing the risk of data leakage. This move by Aleo not only protects the privacy rights of users, but also promotes the healthy development of the Internet industry.
●Privacy: Aleo can prove ownership of an asset, while also resolving information leaks caused by the transparency of transactions on blockchain platforms such as Bitcoin, such as transfer addresses, amounts, and all sources of assets.
●Economic model: Aleo has a stable token economy and predictable prices, providing the perfect foundation for implementing the next generation of computing on zero-knowledge proof cryptography.
Aleo's three major competitive advantages
①Simple and complete tool
Developers can use a set of simple, efficient, and user-friendly tools and services to create a new generation of smart contracts, and benefit from a powerful, efficient, and easy-to-use decentralized application (DApp) development environment.
②Strong privacy
Aleo enables a powerful decentralized financial (DeFi) infrastructure, including stablecoins and decentralized trading platforms. At the same time, all transactions on the platform are fully private, ensuring that developers and users have full control over their data.
③Save transaction fees
The transaction fee on the Aleo network is budgetable, and there is no concept of fuel fee (gas). The cost of each transaction includes the verification fee of zero-knowledge proof. This mechanism helps to reduce transaction costs and effectively increase transactions per second (TPS).
【Why is Aleo known as blockchain 3.0! Because it fully complies with the infrastructure of Web3 from the bottom of the technology, and is also known as the privacy version of ETH. There is no second BTC in the world, but the technology will definitely be updated and iterated to be the next Ethereum ETH, just like Aleo, it is entirely possible to subvert ETH. 】
Web3: ALEO and FIL
Many people "link" Aleo and Filecoin because they do have many similarities. For example, the financing amount of Aleo is 228 million US dollars, and that of Filecoin is 258 million US dollars. If you look at the investors behind the two, you will find that well-known investment institutions such as A16z, Softbank, and Sequoia have almost all invested heavily in Aleo and Filecoin at the same time. At present, the market value of Filecoin has reached 2.5 billion, while the market valuation of Aleo is 1.45 billion because the main network has not yet been launched.
However, once the Aleo mainnet is launched, the most conservative prediction is that the market value will double several times. This can be seen from Filecoin after its mainnet was launched that year.
After several years of baptism, Filecoin has become stable as a whole. In the absence of major good news, the occasional increase and fluctuation are very limited, just like a calm volcano, you don't know when it will erupt next time. This obviously can no longer satisfy the appetite of many old leeks who have been in the circle for many years, so everyone has set their sights on the big cake of Aleo. Why Aleo? Because it represents the future.
Analysis from the perspective of market feedback and support
At its peak, Filecoin’s price rose from $10 to $238 per token, which is an astonishing increase. However, the subsequent progress of the project has been quite slow. As of now, Filecoin’s main application area is still storage, and the search function has not yet been launched. Those who understand storage know how important search is to storage, which is one of the reasons why Filecoin has been struggling at the door of the issue price after experiencing that big market trend.
The biggest difference between Aleo and Filecoin is that "the ecosystem is implemented as soon as it goes online", which means that Aleo was born with "divine equipment". Aleo's ecosystem has been built in the initial stage, and the application can be implemented after the main network is launched, rather than just staying on the PPT. This is very important and largely determines how far a project can go, not just how fast it can go.
Many people say that Aleo was born at the wrong time and missed the craziest expansion period in the industry. My view is exactly the opposite. Only when the tide recedes can you really see who is swimming naked. Only when the market and investors slowly "cool down" will the real "king" begin to appear. Just like the Internet revolution that broke out in 2000, there are still a few companies that have survived from the first batch of companies, and most of them have been beaten to death on the beach by the waves. Even the "two Ma" back then were juniors in front of the "godfather" of the Internet, but what about now? This is what we often call the latecomer advantage, because the predecessors have stepped on many pits for you, and you only need to use the experience of the predecessors to find your own way. The ecological problems that Filecoin is facing today will not appear in Aleo.
★Aleo launch price estimate
The current ALEO futures price is 65u
The initial total supply of ALEO is 1.5 billion, allocated 35% to early supporters, 25% to public distribution, 16% to employees and contributors, 10% to the company, 8% to strategic partners and 6% to the foundation.
We all know that the coins of institutions and project parties are not circulated when they go online, and they will be released only after being locked for one year, so the 25% of public distribution will be circulated when they go online.
According to ALEO's current market popularity and the technology it has, there is no problem for ALEO to enter the top 10 in terms of circulation market value. The estimated listing price is 50-70 USD. After a period of market mobilization, the price will rise to 200-500 USD. Once the ecological application is implemented, the price will reach 600 USD.
Alex Pruden, executive director of the Aleo Foundation, once expressed his expectations for ALEO in an interview and his goal of $20,000. In the near future, it may surpass ETH❗Let us look forward to it together❗❗❗
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