Let’s review together what is Aleo? When will the mainnet be launched?
Aleo is a project well known in the Web3 community that provides a Layer-1 blockchain solution for building a more secure Internet. The Aleo network allows independent nodes (such as personal computers, mobile phones, and other devices) to work together to update the ledger. This ledger is used to maintain records, including encrypted data owned by end users and mapped, publicly shared data owned by programs. Compared to other widely used and provably secure blockchain ledgers such as Ethereum, Aleo has an important additional security mechanism: it is specifically designed so that developers can achieve all this without exposing all user data.
Ethereum and other nodes update their ledgers with the actual data stored and updated on them. For example, if you share your date of birth on these networks, all other nodes can access it as well. Due to the public nature of blockchain, adequate protection of personal data is not possible without further innovation.
Aleo leverages zero-knowledge technology to help companies and developers build applications that update ledgers without having to share personal data with others on the internet. It provides a way for people to have “evidence” that something is true without having to broadly disclose any information unrelated to it. For example, you can share proof that you are 21 or older without revealing your exact age.
Data breaches are on the rise — and technology isn’t keeping up
People are concerned about online data storage and protection, but there are still many organizations that promise to ensure data security but have data breaches, of which at least 33% of consumers are victims. These public and private institutions need to verify critical information online, but businesses and governments holding this data are also being targeted. 1 in 40 organizations face ransomware attacks every week, and the number of such attacks is increasing, not decreasing. To address this issue, the United States, the European Union, and other countries are taking action, with regulations such as the European Union’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) becoming the norm.
Although some progress has been made, the cost of providing cybersecurity and the risk of data breaches remain expensive, leaving ordinary people who use online services, as well as the governments and businesses that provide these services, looking for a more secure digital reality.
How does Aleo protect users and organizations?
Aleo Network provides a secure way for people to provide the information they need to access online services, while relieving businesses from the regulatory and financial risks of maintaining and protecting their data.
It uses zero-knowledge proof technology to transform users’ documents and information into verifiable proofs without exposing key information. The process of achieving this may be technically complex, but is usually simple for the user. Users provide files and information in an offline environment and have it converted into verifiable zero-knowledge proofs. These proofs can be provided to querying authorities in a trusted manner to satisfy the requirements needed to access online services. Similar to how encryption is used to minimize the scope of sharing of credit card information, Aleo Network minimizes the sharing of sensitive information through zero-knowledge proofs to provide a secure digital service experience.
Aleo Network’s security is built on zero-knowledge technology. Although the specific implementation is confidential, other nodes can still verify the authenticity of the content without knowing the specific content of the off-chain data. Developers can leverage this feature to build applications that migrate data to the blockchain. Once the data is on the blockchain, it can be kept private or publicly stored as desired without revealing information beyond the user’s intent. This way, the data can be further exploited and its accuracy can be verified without revealing sensitive information. By choosing what information is stored on the blockchain, application developers, including private businesses and government agencies, can limit the likelihood of themselves being targeted by cyberattacks. They can choose what information is stored and limit the storage of data as needed, reducing risk.
In summary, Aleo Network provides a secure way for people to provide the information required for online services, while mitigating the regulatory and financial risks that businesses bear to maintain and protect their data. By using zero-knowledge proof technology, Aleo Network provides a privacy-preserving and secure digital service experience.
Who is Aleo Systems?
Aleo Systems is the company that built the Aleo Network and is the hosting company for this website. It is open sourcing the network as a blockchain that exists independently of the company: in other words, it is “giving the Aleo Network to the world . ” Thereafter, the network will exist as a user-governed open source protocol, and Aleo Systems will work to build products and services on top of the network.
When will the open source ecosystem be launched?
Aleo is in the final stages of launching a testnet, with mainnet expected to be launched by the end of 2023. Upon launch, Aleo Systems will relinquish all control of the Aleo network, which will operate independently of its founding company — similar to other decentralized systems like Ethereum, even without the Ethereum Foundation. continue to exist. Founding companies will then seize the opportunity to build in the zero-knowledge application space. This means that participants in the Aleo network are participants in the open source ecosystem, rather than in a hosted or curated ecosystem in which the company plays any special role.
