If you haven’t heard of Aleo before, you’ve come to the right place. We are well known in the Web3 community for the Layer-1 blockchain developers can use to build a more secure internet.
The Aleo network allows independent nodes (PCs, phones, and other devices) to work together to update the ledger. This ledger is used to maintain records: encrypted data owned by end users, and mapped, publicly shared data owned by programs. This makes it very similar to other widely used and provably secure blockchain ledgers such as Ethereum, but with an important additional security mechanism: Aleo is purpose-built so that developers can do all this without No need to publish 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. Since blockchain is public in nature, it is impossible to adequately protect personal data without further innovation.
Aleo uses zero-knowledge technology to help companies and developers build applications that update the ledger 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 revealing any extraneous information more broadly. 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 how their data is stored and protected online, but at least 33% of consumers have been victims of a data breach from organizations that promise to keep their data secure.
These public and private agencies require online verification of critical information. But by holding on to this data, businesses and governments alike become targets: 1 in 40 organizations will face a ransomware attack every week in 2022, and such attacks are becoming more common, not less.
The US, EU and many national actors have attempted to address this issue, with regulations such as the EU’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) becoming the norm.
However, despite some progress, the cost of providing cybersecurity and the risk of a data breach remain prohibitively expensive. Ordinary people who use online services, as well as the governments and businesses that provide them, are looking for a more secure digital reality.
How does Aleo protect users and organizations?
Aleo enables people to securely provide the information they need to access online services, while freeing businesses from the regulatory and financial risks of maintaining and protecting that data.
How it’s implemented is technically complex, but usually simple. People provide direct documents and information offline, which are then converted into zero-knowledge proofs that can be shared with querying authorities online. This way, the proof required to access the service can be provided in a trustworthy manner without exposing the critical information behind the proof. This is somewhat similar to how users use credit cards to make purchases online, while using encryption to minimize how widely credit card information is shared, thereby providing e-commerce functionality while minimizing the risk of credit card theft.
Aleo Network’s ability to generate and verify proofs in a secure manner relies on zero-knowledge technology. Although the proposed update is “confidential,” the underlying cryptography still allows non-affiliated nodes to confirm that their content is “authentic,” without containing any off-chain content itself (from sports scores and weather reports to proprietary data or personal identification numbers) any content)).
Developers can build applications that help migrate data to the ledger. Once completed, the Aleo network allows that information to be kept on the ledger privately or publicly depending on usage (for example, weather reports can be kept publicly while Social Security numbers can be kept private).
Once this data is on the blockchain, it can be further exploited and its accuracy can be verified without revealing more information than the user intended. Developers of applications, whether private companies or government agencies, can also limit their data storage by choosing what information they are and are not willing to store, thereby limiting their likelihood of being targeted by cyberattacks.
Who is Aleo Systems?
Aleo Systems is the company that built the Aleo Network and is the hosting company for this website. It’s open-sourcing the network as a blockchain that exists independently of the company: in other words, it’s “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.
Launch an open source ecosystem
Aleo is in the final stages of launching a testnet, with the mainnet expected to launch in late December 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.
