Aleph Zero is a Tier 1 blockchain platform based on the new AlephBFT proven consensus protocol. It uses a directed acyclic graph (DAG) architecture as an intermediate data structure, which provides almost instant finality.
The platform is a suitable decentralized technology solution for enterprises that need to exchange large amounts of data and fast confirmations. Using a hub-and-spoke model, Aleph Zero allows enterprises to have a private instance that communicates with the main decentralized registry. In this way, businesses can efficiently and cheaply communicate with each other without trust, while maintaining their own private network.
Aleph Zero was created to help overcome the challenges of blockchain network security, scalability, decentralization, privacy, and user and developer experience.
Let’s take a look at each of these issues to determine if Aleph Zero has a chance to bridge the gap between them all.
Scalability
It is widely known that the most popular blockchains, Bitcoin and Etherium, are limited by scalability issues. At 3 to 15 transactions per second (TX/s), the technology is far from meeting the requirements for mass adoption. Bitcoin confirmation times are also still counted in minutes, not milliseconds.
Some protocols are — in theory — much faster than Visa or MasterCard. The only drawback is that they do it in a private, closed environment. If we’re debating whether digital assets can be adopted globally as the standard payment system or if we’re focused on deploying scalable decentralized applications, we need to build them using the proper medium.
Solution
Aleph Zero — as a platform — provides instant finality and is capable of efficiently scaling on both the consensus protocol and smart contract platforms. These numbers will allow the network to serve a large number of users, making it suitable for future use cases that will be deployed on the network.
Security
While distributed ledger technologies are considered by the general public to be more secure than conventional networks due to their decentralization, practical data suggests otherwise. While bitcoin can be considered relatively secure because of the size of its network, small networks are attacked on a daily basis.
One of the main problems with most modern DLTs is the security analysis of their chosen consensus protocol. Double-spending, 51% and denial-of-service attacks are possible blockchain vulnerabilities and need to be understood before deciding to deploy to a particular network.
Solution
To provide maximum theoretical security guarantees, Aleph Zero boasts the new AlephBFT consensus protocol. Aleph Zero can allow up to 33% of malicious committee members without affecting the validation process. Each transaction is validated as soon as 67% of the members agree with it. The most important element of the Aleph Zero network is its asynchrony, which does not depend on any assumptions about timing and ensures that all honest transactions are validated even while the network is fully asynchronous. In addition, Aleph Zero strives for decentralization and has no leader. It has no single node controlling the creation of a common order of units at any stage of the process. The result is fault tolerance for distributed denial of service and simple protocol recovery after network partitioning.
Privacy
The current Internet policy has turned us all into information commodities that are sold to the highest bidder. This is one of the biggest challenges facing the modern Internet, and many voices are demanding that control be put back in the hands of the user.
Blockchain technology is poised to meet these challenges with security measures that guarantee maximum privacy with social responsibility.
The solution
ZK-SNARK is typically used for private computing over user-owned data records, while MPC extends this computing model by adding the concept of “global secrets” — personal data that is controlled by smart contracts and allows for private multi-user interaction. This federated privacy model enables multi-user systems such as private voting, auctions or DeFi protocols.
Aleph Zero allows enterprises, governments, and developers to create new solutions that will benefit from a decentralized architecture.
AZERO is the Aleph Zero platform’s own token that is used to protect the network through betting, paying commissions and providing a base unit of account between multiple subnets created on the Aleph Zero platform.
The AZERO coin will be the base currency that supports the Aleph Zero ecosystem. It will be used for:
Validator node rate.
Decentralized Exchange (DEX) swap commission discounts
Collateral for wrapped assets in Liminal
Discounts on asset wrapping and bridging fees on Liminal
Transaction costs
Management voting processes
Aleph Zero Foundation is headquartered in Zug, Switzerland
The Aleph Zero Foundation is headquartered in Zug, Switzerland, which puts us at the forefront of the debate going on between various projects and regulators. An important catalyst for this situation is the positive attitude shown by the Swiss Federal Government as well as by the Swiss Financial Market Supervisory Authority (FINMA), who want to give Web3 projects registered in Switzerland progressive thinking and a quick adjustment to current conditions.
Switzerland has consistently proved to be at the forefront of everything blockchain-related since the Ethereum Foundation’s registration in 2014. From the beginning, public authorities saw blockchain technology as an opportunity and as a complementary, rather than competitive, sector for traditional financial structures. On September 25, 2020, the Swiss parliament approved the Distributed Ledger Technology Law .(DLT), which allowed the tokenization of rights, claims and financial instruments. It also laid the groundwork for best practices where cryptocurrencies are involved in insolvency proceedings. Later, several amendments were made to the Swiss Code of Obligations and the Federal Intermediated Securities Act to allow the creation of securities based on a distributed ledger. These rules took effect on August 1, 2021.
Aleph Zero is currently compliant with all Swiss laws regarding the Web3 space. We will continue an active dialogue with regulators, as we believe that regulation can have a beneficial effect on the crypto industry and be a catalyst for mass adoption. The progressive approach presented by the Swiss government serves as an example for all other legislatures. We sincerely believe that governments around the world will follow this path in the coming years as Web3 solutions become more mainstream.
The project is preparing to launch a grant program. There is growing interest from both startups and large enterprises. Stay tuned for more news in the near future!
Subscribe and follow place with me for top projects:
