The best blockchain of 2022 — Aleo
Hello there! Today I will tell you about the analytics of a very promising project — Aleo. We will discuss investors who follow twitter, technology, ambassador program and perspective. Well, let’s go!
What is ALEO
Before doing analytics, you need to understand what kind of project it is and what its essence is.
Aleo is a Layer 1 blockchain that will provide anonymity and privacy for applications that will be built on this blockchain. In this way, we can protect the confidential information of not only developers who build their dapps, but also users who use these applications for their own needs. Everything will be completely private.
In fact, this is a huge problem for the crypto market — privacy. Any transaction can be seen in the blockchain and all this is in open sources. If you are a “whale”, then your cryptocurrency assets can be monitored even more closely. This is rather paradoxical, since everyone goes to the crypt for privacy.
Few projects can provide protection for your data. But now 2 projects are being built that can provide this! Aleo and NYM.
Two giants in the field who want to solve the problem of privacy. Behind them are big investors and teams that will compete with each other. But I think that each of these projects will have its own area that it will occupy. And in the end, we will only cooperate with NYM.
LEO programming language
Aleo has its own programming language called Leo. It was created to make life easier for developers. As we know, there are many programming languages: JavaScript, Python, C++, Rust, Solidity, Substrate and so on. Aleo could choose one of these languages and write their project in it. But they went their own way and created Leo because it connects bits and pieces from every language, for example Leo is designed to resemble Javascript and Typescript. And these languages are used by millions of people and will be easier for Leo to learn.
But how do you learn the Leo language?
And Aleo prepared for this issue and made a great document, which contains information about how to use the Leo language.
There is absolutely everything that developers need to know! Everything is divided into sections, and you can see any subtleties that you would like to know.
You need to understand that developers are incredibly needed by Aleo, since this blockchain was created specifically for programmers to make their applications on it! The more of them, the better.
Testnets
Aleo has already run two successful testnets. A lot of people participated there, and the project became many times stronger thanks to them!
The first testnet did not require a strong server and everything worked relatively stable. It was a node and a guide for it was here.
Many people learned about this project thanks to the great guys from Nodes Guru. They helped Aleo a lot and attracted an incredible number of new users and node runners!
And after a while, Aleo announced 2 testnets. And this time participants will be rewarded. It was necessary to spend a few hundreds of dollars on this testnet, since Aleo is built on Proof Of Work and it was necessary to mine blocks. The server cost about $130 per month if you didn’t have a farm at home :)
The rewards in the second testnet were 15,000,000 credits. This is the pool that the Aleo miners will share.
There were some difficulties in this testnet, since one Chinese pool of miners took absolutely all the blocks and did not allow others to mine it. But in the end, if you pooled, then you could get at least one block. Here are the awards that were eventually received for 2 testnets:
If you held a miner but failed to mine a block — 125 credits.
If you were able to mine at least one block — 500 credits.
And in the end, we are waiting for 3 testnets. It will be coming soon, so stay tuned!
But right now, you can participate in the 3 Aleo testnet!
Aleo Testnet 3 will be released across three (3) phases to our community. The following is a summary of the highlights for each phase.
Phase 1 — Developers (August 2022)
- Developers can start writing, deploying, and executing programs.
- The Aleo team bootstraps the network with genesis beacons.
Phase 2 — Provers (September 2022)
- Provers start solving coinbase puzzles (PoSW) to earn credits.
- The Aleo team kickstarts the bug bounty program for snarkOS and snarkVM.
Phase 3 — Validators (October 2022)
- Validators start producing blocks and earning rewards.
- Provers with 1 million Aleo credits will be able to become validators.
- The Aleo team will bootstrap the network for Phase 3 with AleoBFT.
You can find more information about this testnet here.
Twitter is another important indicator of the project. There you can see how actively the team is leading it and whether the community is developing.
Aleo (@AleoHQ) / Twitter
If we go to Aleo’s twitter, we can see that it was created in 2019. Apparently, this is the year in which the idea to create this project came up.
Further, we can observe that almost every day some information about the project is fasted here:
Threads:
- AMA sessions
- News
- Updates
Now we can check which people follow Aleo on twitter. We will check this using the coinsguru.io service
As we can see in the picture, Aleo SMP Score is 109. This is just an incredible number for the project! Some of the most famous projects, investors, journalists and other cryptocurrency influencers follow Twitter.
This number shows that Aleo is being followed by some really great people/organizations who believe in the development of the project.
Investors
Aleo investors
This project has a lot of top investors. There were two rounds of funding:
- Round A — $28 million was raised in Aleo in April 2021. Venture firm a16z led the round, followed by Coinbase Ventures, Galaxy Digital and other top investors.
- Round B — $270 million was contributed to Aleo in February 2022. Kora Management LP led the round and the remaining investors were SoftBank Vision Fund 2, Tiger Global, Sea Capital, Samsung Ventures, Slow Ventures, and Andreessen Horowitz.
As we know, a16z is the top fund in the crypto industry. And if this fund contributes its own funds, then the project definitely has a promising future and good technology.
Definitely need to pay attention to this project, if it contributes as much as 228 million dollars! This GEM is simply not to be overlooked.
Also, a16z wrote in this article why he invested in Aleo and why this fund considers this project very promising:
https://a16z.com/2021/04/20/investing-in-aleo/
Maybe this article was a little long, but I told everything I knew about the project. Now you can study the project on your own and if you are a developer, then write some kind of application in the Leo language. The team will greatly appreciate it!
I hope you enjoyed my article and learned a lot about the incredible Aleo project. I wish you good luck and bye. Peace!
Website: https://www.aleo.org/
Twitter: https://twitter.com/AleoHQ
Discord: https://discord.com/invite/aleohq
Youtube: https://www.youtube.com/c/AleoHQ
Telegram: https://github.com/AleoHQ
GitHub: https://github.com/AleoHQ
Community Forum: https://community.aleo.org/
Author: Kris Moris#8414
