San Francisco, United States, September 18, 2024, Chainwire
Aleo L1 creates a modern ecosystem of secure and programmable applications that give users a modern level of control over their data
Today, the Aleo Network Foundation officially announced the launch of the Aleo Network, a Layer 1 blockchain that combines general-purpose programmability with the power of zero-knowledge proofs (ZKP). The network enables a modern generation of decentralized applications that provide user data privacy and enterprise scalability.
Mainnet marks a critical turning point for zero-knowledge technologies. For the first time, developers can deploy and run applications on a layer-1 blockchain that is zero-knowledge by default. Mainnets are used to prove knowledge of a given set of data, without having to reveal the data itself. This gives developers a platform to build private, cost-effective, decentralized applications and makes modern operate cases in identity, finance, and gaming feasible at scale.
Developers can now create applications that allow users to securely provide the information they need to access online services, while relieving businesses of the risk of storing and securing that data.
Developers benefit from a network that provides:
- High scalability by performing off-chain operations with ZK proofs, which reduces the amount of computation and speeds up transactions.
- True decentralization thanks to a diverse, purpose-built network of validators ensuring stability, resilience and inclusive governance.
- Unlimited operating time by executing tasks off-chain, eliminating the gas fees that are common on other blockchains.
- Full-scope development experience allowing developers to easily create decentralized ZK applications by supporting complicated cryptography.
This launch marks an essential milestone following the successful validation of Testnet Beta, where the network was thoroughly tested in various environments. The Foundation has enhanced the security of the network by addressing the findings of audits conducted by three independent companies and resolving issues identified in bug bounty programs.
“The launch of the Aleo mainnet is a major milestone in our mission to empower users to secure their personal data. This is not just a technological advance; it is a fundamental change in how users interact with their data online,” said Alex Pruden, executive director of the Aleo Network Foundation. “Now, users can securely share only the personal data relevant to a specific query, such as their exact age or credit score, without having to reveal the entire contents of personal documents such as birth certificates, financial details, medical records, and more. Products like our in-house identity solution ZPass demonstrate the potential of the Internet, where users, not platforms, control the data they see and share.”
“At Variant, our guiding thesis for our infrastructure investments is to expand the design space of what’s possible for applications. The potential for decentralized, privacy-preserving computing cannot be overstated—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 this network.”
There is already a solid ecosystem of partners building real-world operate cases for the network. Venture capital firm Electric Capital named Aleo one of the top five fastest-growing ecosystems by all developers, up 167%, and there are over 330 vigorous projects to date spanning applications such as DeFi, utilities and infrastructure, identity, and gaming.
“Enabling safe online spaces that support and protect children has been at the heart of our work at Bandio since the project began. The support and collaboration we’ve received from Aleo throughout the lifecycle has been invaluable,” said Lynzi Ziegenhagen, CEO of Bandio, a digital age enablement 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 Aleo Network comes at a time when demand for secure digital solutions has reached an all-time high. Without security, web3 risks remaining a digital casino that lacks the trust and usability needed for wider adoption. Aleo’s approach ensures that privacy is not an afterthought, but a fundamental element, indispensable to the evolution of meaningful and secure digital interactions.
Aleo Chooses Coinbase (NASDAQ:) for First Day of Support
Coinbase, one of the largest cryptocurrency companies in the world, known for pioneering innovation in the digital asset space, has been supporting Aleo from day one in three key areas: custody, staking, and learning rewards.
- Coinbase Prime is a leading institutional prime brokerage platform for crypto assets, trusted by some of the world’s largest institutional clients. Institutional investors can safely store the native Aleo token with Prime.
- Placing: Coinbase will be an early validator of the Aleo network, offering best-in-class staking services to support the ecosystem. Leveraging Coinbase’s extensive experience in the proof-of-stake ecosystem and its history of supporting staking innovation, this relationship will strengthen the Aleo network infrastructure and provide reliable, secure staking services to its participants.
- Coinbase Educational Rewards offers developers and users the opportunity to be rewarded for learning about the unique benefits of the Aleo network. Quests challenge users with on-chain tasks to aid them earn rewards and get to know key partners such as Demox Labs, Puzzle, Apybara, Arcane Finance, and Aleo Name Service.
This announcement underscores Aleo’s commitment to building a stalwart and secure network from the very beginning.
“Aleo’s decision to choose Coinbase for Day 1 support is another signal to the market that users want autonomy in their experience, and for some, that means supporting technologies that put privacy first,” said Lewis Han, Head of Developer Sales at Coinbase. “We are excited to support Aleo’s mainnet launch by integrating our staking services into the genesis set of validators, which will help build a more secure and user-centric on-chain ecosystem.”
The launch of the Aleo mainnet reinvigorates the need for a safer Internet where user data privacy takes precedence. As the Aleo ecosystem grows, zero-knowledge will finally find its place in the mainstream. To learn more about Aleo, visit www.aleo.org.
About the Aleo Network Foundation
The Aleo Network Foundation is a Wyoming-based 501c4 nonprofit organization dedicated to operating and supporting the Aleo Network, which focuses on open source governance, developer engagement, and promoting zero-knowledge crypto applications.
About the Aleo network
Aleo Network is a decentralized and leading developer platform for building secure, scalable, and cost-effective decentralized applications. Using zero-knowledge cryptography, Aleo moves intelligent contract execution off-chain to enable modern operate cases for applications such as identity, finance, and gaming, scaling to thousands of transactions per second. Built on a decentralized, permissionless blockchain, Aleo provides flexibility with a more scalable architecture that is designed from the ground up for privacy.
ContactSenior PR ManagerPatrick KennedySerotoninpatrick@serotonina.co
