Announcing our Partnership with Aleph Zero: a Peer-reviewed Public Blockchain with Private Smart Contracts

Published in

WWVentures

4 min readJun 10, 2021

Aleph Zero’s open-source platform enables enterprises to build decentralized, scalable projects by utilizing distributed ledger technology.

About the Project

Aleph Zero is a peer-reviewed Directed Acyclic Graph (DAG) platform that’s scalable, fast, and developer-friendly. It’s a Proof-of-Stake public blockchain with private smart contracts built by a world-class team that aims to reach mass adoption of Distributed Ledger Technology. It solves the current solutions’ shortcomings and the ‘blockchain trilemma’ problem to serve as the best base layer for future decentralized applications.

Aleph Zero aims to become a complete blockchain system, boasting fast, feeless transactions to the tune of 89,600 transactions per second with a confirmation time of 416 milliseconds in a test Golang implementation built on 112 AWS nodes spread across five continents. When compared to existing blockchain solutions, the Aleph Zero’s design scales more effectively since multiple blocks can be produced and added to the DAG simultaneously.

To ensure broad adoption and a state-of-the-art development environment, Aleph Zero is also integrated with the Substrate framework. Notably, the team behind Aleph Zero (Cardinal Cryptography) received a Web3 Foundation grant for their work on a randomness beacon for the Substrate stack.

That’s not all — Aleph Zero is an ecosystem consisting of:

AlephBFT Consensus: A novel DAG protocol with a frequently rotating committee to ensure decentralization
Aleph Zero Cloud: Decentralized file storage
Private Smart Contracts: Scalable & self-executing
Common: Decentralized exchange + trustless universal wallet (launching in 2022)
Liminal: multichain privacy layer that will be usable on all major chains (launching in 2021/2022)

Use Cases

Developers can utilize Distributed Ledger Technologies to create projects within the decentralized and secure ecosystem. The Aleph Zero team envisions multiple possibilities for use cases on their platform; the sky’s the limit as to how it can be used to revolutionize decentralized applications. A few possibilities include:

New design for carbon credit registries
Supply chain management
Virtual game assets
Automatic tax payments
Asset digitization
…and more

Tokenomics

$AZERO is at the core of the ecosystem, used for:

Providing liquidity for Liminal services
Staking and running validator nodes
Running Liminal’s off-chain workers
Fee discounts on Common and Liminal

Behind our Partnership

The team behind Aleph Zero is set on solving existing, real-world challenges currently being faced in the industry. WWVentures seeks out project teams that are addressing the needs of the market, and doing so with passion and dedication to the work. Aleph Zero’s impressive team gives us confidence in their ability to execute the project’s ambitious visions. Their platform solves the following problems:

Security:

Distributed Ledger Technologies are more resilient to external attacks as a result of decentralization. However, the majority of currently deployed solutions do not provide theoretical security guarantees, making them less practical from a long-term usage perspective. Aleph Zero provides both practical and theoretical security guarantees backed by their peer-reviewed research paper on AlephBFT and further research on threshold ECDSA.

Scalability:

Existing blockchain protocols trade speed for security. Aleph Zero is capable of processing transactions at lightning-fast speeds without compromising security and vice versa.

Cost:

Traditional Proof-of-Work blockchain protocols rely on monetarily and environmentally costly mining hardware; Aleph Zero is mining-free. The team is also working on making the transactions as close to feeless as possible.

Privacy and the multichain future:

The way for the project to contribute to the multichain future, the team will intensify development of their multichain privacy layer called Liminal, which will be compatible with all the major chains. That way, developers can either choose Aleph Zero as an ecosystem to directly deploy their dApps on, or as a layer (Liminal) that they can use on other chains. With Liminal still being based on Aleph Zero, the network’s usage will increase, as should the value of the underlying $AZERO token.

Speed:

Aleph Zero’s Golang implementation processed around 90,000 transactions per second with 0.5 second confirmation times.

We encourage you to read more about the project in their easily digestible whitepaper. If you’re eager to develop applications that will drive the technological revolution, check out their technical whitepaper.

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DISCLAIMER: Content in this article does not constitute financial advice. Cryptocurrencies are volatile assets. Always do your own research and invest at your own risk.