In the current era of the Internet, on the one hand, the Internet has provided us with many conveniences in our daily lives, and on the other hand, the Internet is constantly collecting various types of data that appear scattered and aggregate into big data. Almost everyone has become a “transparent person”. Once these data is leaked or misappropriated, it will cause us privacy exposure and direct economic losses.
Let’s start with a cruel truth about the blockchain world: blockchain has no privacy at all
With blockchain data analysis companies becoming more and more professional, coupled with the requirements of many exchanges for user KYC real name authentication, it is now easy to bind a person’s real identity to their Web3 identity.
Moreover, currently almost all blockchains are open and transparent, and users have no choice but to disclose their account balances, transaction information, and every move you make on the blockchain. This is like disclosing all your social media, Uber taxi records, Google search records, and emails to others.
Imagine living in a room with only glass walls but no curtains. Everyone passing by your house can see what you have and what you have done, which is the price of Web3 without privacy.
And since blockchain data once made public cannot be deleted, the privacy you expose will always be retained on the blockchain.
Since the birth of smart contracts, they have faced two major shortcomings. The first is the transparency caused by the underlying design, which does not have privacy and allows anyone’s account balance to be queried.
The second flaw is that they do not have millions of scalability capabilities, let alone billions of users. These limitations exist because trust requires verification.
Fortunately, many developers are trying to solve the above two defects by using the very cutting-edge zero-knowledge proof technology. And their exploration can be divided into four quadrants based on two dimensions (privacy and programmability).
We are familiar with Bitcoin and Ethereum, which fall into the third and fourth quadrants respectively, and neither of them has privacy, while the latter has better programmability.
The single functional privacy products represented by the second quadrant have been a major focus in the past. A typical example is ZCash. Compared with Bitcoin transfer, it is widely used in anonymous transfer. With innovative zero-knowledge proof technology, it combines good privacy with a single function of transfer.
However, that’s all, ZCash cannot combine privacy with broader programmability. Therefore, we can foresee that the next opportunity and hot spot in the market is a project that combines privacy and programmability well.
Aleo belongs to the first quadrant. Aleo is the first public chain that uses zero-knowledge proof to solve privacy problems while ensuring programmable features. Aleo protects user information privacy through zero-knowledge proof, including hiding transaction information (amount, time), and allowing users to choose the degree of privacy disclosure.
In terms of scalability, Aleo transfers the execution of smart contracts offline, ensuring the feasibility of tens of thousands of transactions per second.
Which investment institutions are ALEO invested in?
As of now, Aleo has three rounds of financing, namely A round B round B+, with A round financing of $28 million and B round financing of $200 million and B+round financing of $70 million. A total of 298 million US dollars!!! A total of 19 investment institutions are investing!
And in the bear market stage, there are many institutions laying out the Web3 privacy race track, and this year’s “landing” is undoubtedly the main theme of the privacy race track!
