Privacy By Default: Aleo Set To Roar To Life
Zero knowledge by design, Aleo uses ZK cryptography to achieve both programmability and privacy.
What is Aleo?
→ Think: programmability of Ethereum meets the privacy of Zcash.
According to CEO Alex Pruden, this is how Aleo aims to provide a platform for data privacy preserving applications.
It is a layer-1 blockchain that is based on zero-knowledge cryptography and mainly focuses on both privacy and personalization.
“Aleo can be seen as the synthesis of Ethereum and zCash”
Potential use cases:
Upon its mainnet release, Aleo looks set to be used in a variety of ways, the most anticipated of which will be in the identity privacy space. This is because the tech built into Aleo will enable users to share only the most relevant information to another party, without revealing details about why this information is true.
It’s a solution that could alleviate privacy concerns not only in Web3, but also in Web2 as its infrastructure creates a new paradigm of cybersecurity, authorization, and authentication.
Let’s look at an example to put things into context:
“Steve” has a zPass account that uses a decentralized digital identity model to prove his credentials without needing him to reveal why his information is true. One day he decides to use a crypto banking site, but he is prompted to verify his identity. Here (using Aleo’s tech) zPass will generate a proof that keeps Steve’s private information hidden, but will meet the banking site’s verification needs.
Aleo Products
→ Aleo SDK
Aleo’s Software Development Kit enables developers to create Smart Contracts on its chain. The SDK is made up of a number of TypeScript & JavaScript libraries that provide the tools needed to build zero-knowledge applications. These tools can provide an array of functionalities including: Aleo network communication, account management, credit transfers, and program state and data management; just to name a few.
→ Leo Language
Based on its predecessor, Rust, Leo is a domain-specific statically typed programming language built for writing privacy-preserving applications.
Leo enables developers to intuitively build on the Aleo Network. By abstracting away the low-level cryptographic concepts associated with ZK, Leo allows developers to leverage the power of ZK without being cryptographers. . It’s a notable advantage as the complexity of ZK tech has traditionally been a hurdle for many wanting to utilize the tech.
Leo is the first formally-verified programming language for writing programs that compile into R1CS to create zero-knowledge proofs. Leo will also include a testing framework, package registry, import resolver, remote compiler, and theorem prover for an optimal developer experience..→ Aleo Explorer
Built with users in mind, the Aleo Explorer is an intuitive web-based tool that allows the interaction with and exploration of the Aleo blockchain. Information about blocks, transactions, addresses, and more are accessible with its easy-to-use interface.
→ snarkOS
A fundamental layer to the Aleo network, the decentralized snark Operating System introduces the coexistence of both privacy and transparency to applications on the chain. snarkOS forms the backbone of the Aleo Network, handling critical functions like P2P networking, communication between nodes, verifying transactions, and consensus.
→ snarkVM
Central to Aleo is snarkVM — a zero-knowledge execution environment (zkVM) purpose-built for zero-knowledge cryptography. Unlike other projects that need to retrofit their VMs to support ZK, Aleo can support it natively.
How Aleo works
Taking a look under the hood of the protocol, the first thing that stands out is its use of both PoS and PoW mechanisms.
Aleo’s PoS mechanism is supported by the chain’s novel AleoBFT consensus protocol that uses the Bullshark Narwhal algorithm. This allows the chain to scale to a large number of validators, without affecting the network’s throughput.
Meanwhile, a group of provers uses a PoW-like mechanism to generate proofs for the protocol.
Simply put… when the chain needs to generate a block, it first sends a proof request to its provers. The provers create cryptographic proofs of transactions without revealing any content. There is no gas fee incurred during proof generation, as this occurs off-chain. (Provers also have unlimited runtime, as time to verify a program proof is not directly linked to the program’s runtime.)
Once complete, the proof is sent to validators, which incurs the first gas fee on the Aleo user side.
Validators on the PoS side then verify the proof and deploy the new block on the chain.
Block rewards in the form of Aleo’s token (Aleo Credit) are then unlocked and distributed to both provers (PoW) and validators (PoS). Provers are rewarded for generating proofs and sending these to validators, while validators are rewarded for making a new block.
The new block means that statements are updated by users’ txs, or that Leo Smart Contracts are deployed by developers.
But what about staking?
Aleo has two (2) ways to participate in securing the network, by becoming either a validator or a delegator (a common approach in the Cosmos space).
Now validators need to run an Aleo node that communicates with other validators to form consensus on block history and add new blocks. Each validator needs to stake one (1) million Aleo Credits.
If you choose to be a delegator, you can choose your validator(s) and stake your Aleo Credits to them. As with other chains, you will keep full control of your assets and can vote on proposal, restake, or unstake at any time.
How does Aleo integrate its ZK tech?
In contrast to other chains Aleo was built as a Layer 1 chain with a
bottom-up approach to zk cryptography and is fully permissionless. It means that multiple parts of the chain are zk-oriented, from consensus to VM.
Another unique feature of Aleo is that while Monero, Zcash and others place privacy on payments; privacy on Aleo’s network can extend beyond payments to include Smart Contracts.
Essentially Aleo is able to be permissionless, private, and programmable all at once, creating the perfect environment for dApps that put users in control.
Insights
While Aleo is set to join a growing list of privacy chains, what sets the network apart is its own tailored AleoBFT consensus algorithm and its easy-to-use ZK tech.
Aleo Support
The privacy chain has raised around US$ 300 mil. with the backing of some 19 investors.
These include notable names such as: Andreessen Horowitz (a16z), Placeholder, Kora, and Slow Ventures amongst others.
Future roadmap
To facilitate continued growth, Aleo has purposefully been designed with simplicity and intuition in mind for potential app builders. The chain also has an IDE (Integrated Development Environment) called Leo Playground and has included several examples for writing apps.
Aleo’s SDK is also accessible and can be used to submit proofs generated on the Leo Playground.
Looking to the future Aleo plans to create a foundation to foster an open-source ecosystem and to eventually bootstrap a proving ecosystem that spreads and applies to users on a different apps.
There is also Aleo’s Developer Grants Program which offers funding for talented developers looking to build on the protocol.
What is Cøsmostation?
Cøsmostation is a dYdX Chain genesis validator and a key player in the Cøsmos ecosystem, providing invaluable infrastructure legos essential for scaling and onboarding users onto blockchain networks. Cøsmostation also bootstraps networks and onboards end-users.
Mintscan
Moreover, Cøsmostation offers its own blockchain explorer, Mintscan. It provides insightful interactions with chain data across various networks and also features a user-centric design, with transparency placed at the core of its ethos.
