Aleph.im is a cross-blockchain, cross-technology layer-2 network specifically focused on decentralized applications (dApps) and their security related infrastructure. Aleph.im aims to revolutionize IoT, the web, and the cloud as we know it by being the first cloud-native blockchain.
At present, in most of the blockchain projects with smart contract support, the current state of applications are written (or computed from) on a blockchain, this is immutability. Immutability may be a great feature for archival data, but what if you want instantaneous actions, batching user requests for non-critical items? You will need a second layer of truth, a distributed state that you can influence by signing messages. Agents will then commit the messages on the blockchain for the users, incentivized by the network token. The agents will spend the native chain asset and will receive the token in exchange for their service.
This allows for free and instant interaction with dApps for users, with efficient batched inserts on the blockchain for immutability and maximum security. Storage of files and messages (content) is also incentivized and distributed.
Aleph is the first project of its kind! It allows any developer to build big applications (think internet scale, like the big “social applications”), hardware devices that can talk with a powerful distributed cloud (aleph.im!) and many others.
While we have numerous competitors that might relate to one specific area of technology, no other current project has the same capabilities as Aleph.
Why would I want the Aleph token and what might it be used for?
The Aleph token is designed to be adopted and utilized, not just sit in a wallet and collect dust. In the near future, Aleph tokens can be used for storage on the network (for dApp owners, devices providers, and the user themselves if they are using a non-incentivized dApp). You will also be able to use the Aleph tokens to sync on chains (for dApp owners) and pay for computing on a CPU/GPU intensive virtual machines (e.g. machine learning). These are only a few of the use cases we are envisioning, but there will be many more in the future, and Aleph is currently being tested on several projects as a Proof of Concept (POC).
How Can I Support Aleph and Earn Aleph Tokens at the Same Time?
In the distributed blockchain network, multiple nodes work together to verify the transactions and to protect the network. These nodes use certain predetermined rules, known as the consensus protocol. By staking NULS on Aleph.im nodes, you can gain Aleph tokens through the protocol called Proof of Credit Mining (POCM), which is an advanced form of Byzantine fault tolerance. Utilizing POCM increases security and decreases costs.
Current opened Aleph POCM NULS nodes:
You will notice that when you stake on Aleph nodes, the commission rate is set at 99%. The NULS that would normally get rewarded to node stakers will move to an Aleph Team account. Instead of being rewarded with NULS, you will be rewarded with Aleph tokens. By staking with the Aleph nodes, you will not only be securing difficult to acquire Aleph tokens, but you will also be supporting the Aleph project simultaneously.
Currently, there are only two ways to acquire Aleph tokens; you can simply stake in Aleph Nodes, or you can contact us at hello@aleph.im in order to discuss Venture Capital (VC)/Angel contribution opportunities.
In the future, you may be able to acquire Aleph tokens through bounties offered by Aleph. Once the network launches in the future, you can also run servers to share storage and CPU to earn Aleph tokens.
Of note, Aleph tokens will be locked up and unmovable for now. They will be unlocked at a future date to be determined by the team. More information will be forthcoming in future articles. For the detailed information on reward/return rate, please refer to section “4. Aleph Token” in Aleph’s whitepaper.
We look forward to hearing from you soon at our first AMA with our Lead Developer Moshe Malawach and other team members at https://www.reddit.com/r/Aleph_im/!
