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Aleo: Institutional Report

3 min readResearch

Aleo: Abbreviated Introduction

Aleo was originally conceived in 2016 in the context of research into programmable zero-knowledge. The company was officially established in 2019 by Howard Wu, Michael Beller, Collin Chin, and Raymond Chu.

Aleo leverages decentralized systems and Succinct Non-Interactive Arguments of Knowledge (SNARKs) to protect user data on the web. The main innovation delivered by the company is Leo, a Rust-inspired statically typed programming language built for writing private applications.

These applications operate on snarkOS, a decentralized operating system and the backbone of Aleo. 

In August 2022, Aleo started deploying its Testnet III, an experimental network for developers to begin building and testing applications on it. Aleo is currently transitioning its consensus mechanism to a hybrid architecture for provers and validators. It consists in a Byzantine Fault Tolerant mechanism (AleoBFT) that:

Guarantees instant finality for each block.

Ensures the network remains sufficiently decentralized.

Incentives Provers to scale proving capacity for the Aleo ecosystem over time.

Aleo is a private company with venture capital funding. The Aleo team has raised $200 million in a Series B funding round that values the company at $1.45 billion. The Aleo project is based in California, USA.

The ecosystem token has not been issued yet. However, Aleo has already published its plan for offering it and its tokenomics.

Its breakthrough research on privacy technology has attracted support from the academic community and blockchain developers, web developers, and open-source enthusiasts. 

A strong community of early supporters helps strengthen the Aleo project. It has over 30k Discord members, 100 ambassadors, 50 apprentices, and 30 maestros.

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