It covers three of the four privacy dimensions: private input, output, and user privacy.
When you make a transaction, all an outsider sees is what happened, which program was used, and the sequence number of the input record (to prevent double spending). ALEO was also originally committed to functional privacy, but abandoned it for better performance.
You can choose to share certain information publicly or grant someone a "view key." This key decrypts your data for a third party without them taking any action. It's easy to share your records with people like accountants while keeping them safe from prying eyes.
ALEO is versatile and supports private applications with local state updates. No gas limit means unlimited running time, which makes it perfect for games, identity solutions, and peer-to-peer transactions.
ALEO excels at updating the global state through its Finalize function, fusing public and private states together to enable innovative application designs. For example, imagine a semi-private DEX where pool statistics are public but user positions remain hidden.
In terms of privacy, ALEO’s SNARK-based approach provides strong privacy protection, but is not quantum-proof and requires a trusted setup. Plans to build bridges with other blockchains such as Namada could enhance privacy protection across multiple networks, although this presents technical challenges.
ALEO sets privacy by default, encourages users to interact within a blocked range, and improves individual user privacy. This is a welcome step towards a more private and secure digital world!
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