If you are a follower of the technology industry and Web3, and you have probably heard about “privacy computing”, what role does Aleo play as the leader of the privacy race track?
In short, Aleo is the first public chain that uses Zero-knowledge proof to solve privacy problems while ensuring programmable features.
It completes transactions or interactions without the need for users to disclose any privacy (such as personal information, transaction amount, quantity, etc.). It can also transfer the execution of smart contracts offline, support various Dapps, and ensure their scalability (thousands of transactions per second).
Zero Knowledge Solution — ZK
Zk (Zero Knowledge) is a specific zero knowledge solution proposed by Aleo, which is an improvement on ZeroCash’s original zk sparks technology. It can make the verifier believe the correctness of a certain statement without providing any useful information to the verifier. This technology is widely recognized as a definitive technology and will become one of the most widely used technologies in the blockchain field in the future. Simply put, when you trade online, you don’t need to provide your personal information and data to the other party to complete the transaction or interaction. Greatly protect your personal privacy and data security.
Aleo Consensus Mechanism — PoSW
Aleo uses the PoSW consensus algorithm based on SNARK, which is called concise Proof of work. PoSW provides Aleo networks with the same level of security as Bitcoin’s PoW.
But the Bitcoin PoW algorithm is used to calculate the SHA256 function, while Aleo’s PoSW algorithm is used to calculate SNARK. This allows PosW to act as a POS to ensure system consensus and also validate all transactions contained in the blockchain. This approach actually leads to the coexistence of PoW and PoS, drawing on the advantages of both mechanisms. The benefit is that the generation speed of ZK Proof will be significantly reduced, and the ZKP generation task is parallel and sharable. Therefore, hardware devices, generation strategies, node competition, etc. will all affect the rewards obtained by the verifier.
Computing Environment — zkCloud
ZkCloud is a component built by Aleo as an off chain, untrusted computing environment where programs operate in a private, secure, and affordable manner. The peer-to-peer, decentralized private computing model established by Zkcloud enables protected identities and interactions to be transferred offline, while achieving privacy assurance and greater transaction throughput.
These interactions are conducted through blocking exchanges and providing decentralized and anti censorship data availability guarantees.
Programming Language — Leo
The Aleo team was inspired by Rust to develop a statically typed programming language, Leo, with a particular emphasis on its readability and ease of use. Leo language can intuitively express logic without knowledge, allowing developers to intuitively build applications with privacy and decentralization attributes on the Aleo public chain.
And this static type programming language developed by Aleo can modularize the zk sparks settings of consensus protocols, allowing any Dapp that can operate on the Aleo platform to use zk sparks, reducing development difficulty
Application Scenario
As Layer1, Aleo’s programmability can be compared to Ethereum, and has added privacy protection, high TPS and other features. Projects developed based on Aleo can use Zero-knowledge proof to achieve privacy protection. Not only that, the team’s proposal for opt out privacy also allows users to default their transactions to privacy mode, which means they should selectively disclose the information they want to disclose.
Many cases have shown that programmability is crucial for any blockchain? The importance of collateral expression. But users have to choose between privacy and programmability, and the result is that the transaction history of user addresses is transparent. Zcash provides users with complete privacy, but its programmability is limited. Ethereum provides powerful programmability, but its privacy is limited. However, if Aleo’s Zero-knowledge proof solution is adopted, it means that all transaction details can be hidden by anonymous means.
Participation mechanism?
At present, Aleo mainly needs to use a video card machine to generate certificates. At the same time, Aleo’s algorithm also has corresponding requirements for CPU and GPU, which is equivalent to the upgrade of Ethereum POW and will undertake part of the Ethereum mining pool.
Aleo’s logic is that the device completes the calculation tasks of Fast Fourier transform (FFT) and Multi Scalar multiplication (MSM) algorithms as required, and the verifier needs to produce valid proof within the specified time. The calculation unit of the number of valid proofs completed per unit time is PPS, which is also the only standard to measure how much Aleo token rewards a device can receive.
At present, in order to achieve a high output ratio, the graphics card should be at least 3080Ti, with a graphics memory of 10G or more, and a CPU of 32 cores or more. However, as the Nvidia 40 Series is fully launched, relying on more advanced manufacturing processes, the more energy-efficient 40 Series may become the first choice for everyone. However, regardless of the configuration and solution being changed, the Aleo token reward is only related to the PPS computing power that the machine can generate, so ultimately everyone only needs to focus on the investment cost and revenue generated per PPS.
Testnet3 is divided into three stages and provides 25 million tokens.
The first stage mainly focuses on incentive measures for developers, such as writing and deploying programs. The second stage is aimed at the Prover, as well as the vulnerability reward plan for opening SnarkOS and SnarkVM. The third stage is for the public to participate in the production of verification blocks and receive token rewards.
As for the economic model, the total financing of Aleo is $228 million. Currently, the market estimates that the initial circulation rate of Aleo will be around 15%, equivalent to a circulation market value of around $400 million, with a total market value of $2.83 billion.
Website: https://www.aleo.org/
Twitter：https://twitter.com/AleoHQ
Discord：https://discord.gg/aleohq
