San Francisco, USA, September 18, 2024, Chainwire
Aleo's L1 creates a new ecosystem for secure, programmable applications that allow users a new level of control over their data
Today, the Aleo Network Foundation officially announced the launch of Aleo Network, a layer-1 blockchain that combines general-purpose programmability with the power of zero-knowledge proofs (ZKP). The network enables the next generation of decentralized applications that provide data confidentiality for users and scale for enterprises.
Mainnet marks a critical inflection point for zero-knowledge technology. For the first time, developers can deploy and run applications on a layer-1 blockchain that is zero-knowledge by default. ZKPs are used to prove knowledge about a specific set of data, without having to reveal the data itself. This gives developers a platform to build cost-effective, private-by-default decentralized applications, and makes new use cases in identity, finance, and gaming feasible at scale.
Developers can now create applications that allow users to securely provide the information needed to access online services, while also preventing companies from taking the risk of maintaining and protecting that data.
Developers benefit from a network that offers:
- High scalability through off-chain execution with ZK proofs, reducing computation and speeding up transactions.
- Real decentralization thanks to a diverse and intentionally planned network of validators, ensuring stability, resilience, and inclusive governance.
- Unlimited runtime through off-chain execution, eliminating gas fees common to other blockchains.
- A full-stack development experience This makes it easier for developers to build ZK dApps by handling complex cryptography.
This launch marks a major milestone following the successful validation of Testnet Beta, where the network was thoroughly tested in a variety of environments. The Foundation enhanced the network’s security by addressing the findings of audits conducted by three independent firms and resolving issues identified through bug bounty programs.
“The launch of the Aleo mainnet marks a milestone in our mission to empower users to protect their personal information. This isn’t just a technological advancement; it’s a fundamental shift in how users interact with their data online,” said Alex Pruden, CEO of the Aleo Network Foundation. “Users can now securely share only the personal information relevant to a specific inquiry, such as their exact age or credit score, without needing to reveal the full contents of personal documents like birth certificates, financial data, health records, and more. Products like our internal identity solution ZPass demonstrate the potential of an Internet where users, not platforms, control the data they see and share.”
“At Variant, our guiding thesis for infrastructure investment is to expand the design space of what is possible for applications. The benefits of privacy-preserving decentralized computing cannot be understated – imagine truly secure and private applications that protect user data,” said Jesse Walden, Founder and Managing Partner at Variant. “Aleo is a pioneer in private computing and we couldn’t be more excited to continue supporting the network.”
There is already a robust ecosystem of partners developing real-world use cases on the network. Venture capital firm Electric Capital ranked Aleo as one of the top five fastest-growing ecosystems by developers overall, with overall growth of 167%, and to date, there are over 330 active projects covering applications such as DeFi, tools and infrastructure, identity, and gaming.
“Since the beginning of the project, creating safe online spaces that support and protect children has been at the core of our work at Bandio. The support and collaboration we have had from Aleo throughout our lifecycle has been invaluable,” said Lynzi Ziegenhagen, CEO of Bandio, a digital age assurance tool built on Aleo in partnership with Common Sense Media. “Seeing the mainnet launch as the culmination of this team’s hard work and dedication is truly exciting.”
The launch of the Aleo network comes at a time when demand for secure digital solutions is at an all-time high. Without security, Web3 risks remaining a digital casino, lacking the trust and utility needed for wider adoption. Aleo’s approach ensures that privacy is not an afterthought, but a foundational element, essential to the evolution of meaningful and secure digital interactions.
Aleo Selects Coinbase (NASDAQ:) for Day One Support
Coinbase, one of the largest cryptocurrency companies in the world, widely known for pioneering innovation in the digital asset space, has provided Aleo with support from day one in three key areas: custody, staking, and learning rewards.
- Coinbase Prime Coin Aleo is a leading tier-one institutional brokerage platform for crypto assets, trusted by some of the world’s largest institutional clients. Institutional investors can securely store the native Aleo token with Prime.
- Stake: Coinbase will be one of the initial validators of the Aleo network, bringing its best-in-class staking services to support the ecosystem. By leveraging Coinbase’s deep expertise in the proof-of-stake ecosystem and its track record of supporting staking innovation, this relationship will enhance the infrastructure of the Aleo network and provide secure and reliable staking services to its participants.
- Coinbase Learning Rewards Aleo offers developers and users the opportunity to earn rewards for learning about the unique benefits of the Aleo network. Quests challenge users through on-chain tasks to help them earn rewards and become familiar with key partners such as Demox Labs, Puzzle, Apybara, Arcane Finance, and Aleo Name Service.
This announcement underscores Aleo’s commitment to building a strong and secure network from the ground up.
“Aleo’s decision to select Coinbase to support it on day one is another signal to the market that users want autonomy in their experiences, and for some, that means supporting privacy-first technologies,” said Lewis Han, head of developer sales at Coinbase. “We’re excited to support Aleo’s mainnet launch by integrating our staking services into the genesis validator set, helping to build a more secure and user-centric on-chain ecosystem.”
The launch of the Aleo mainnet brings to life the need for a more secure internet, where user data privacy takes priority. As the Aleo ecosystem continues to develop, zero-knowledge will eventually find its place in the mainstream. For more information on Aleo, please visit www.aleo.org.
About the Aleo Network Foundation
The Aleo Network Foundation is a Wyoming-based 501c4 non-profit organization created to guide and support the Aleo Network, focusing on open source governance, developer engagement, and promoting zero-knowledge cryptography applications.
About the Aleo Network
Aleo Network is a leading, decentralized platform for developers to build secure, scalable, and cost-effective decentralized applications. Using zero-knowledge cryptography, Aleo moves smart contract execution off-chain to enable new use cases for applications such as identity, finance, and gaming, with scalability of thousands of transactions per second. Built on a decentralized, permissionless blockchain, Aleo offers the flexibility of a more scalable architecture designed from the ground up for privacy.
ContactSenior Public Relations ManagerPatrick KennedySerotonin[email protected]
This article was originally published on Chainwire
