Simply Explained: Aleph Zero (AZERO)

Aleph Zero is a privacy-enhancing blockchain aiming to ensure “scalability, low transaction fees, and maximum security guarantees for developers.”  The first version of Aleph Zero’s mainnet went live on November 10, 2021. 

Let’s dive in!

What is Aleph Zero?

Layer 1

Aleph Zero is a Layer 1 (L1) blockchain. Layer 1 refers to a simple base blockchain network like Ethereum and Solana. They’re called Layer 1s as they are the core networks within their ecosystem on which decentralised applications (DApps) can be built. 

Decentralisation

The Aleph Zero platform is built on a custom algorithm powered by what’s known as Directed Acyclic Graph (DAG) technology to create a decentralised system. 

According to its website, “Aleph Zero represents our vision for decentralized technology at the protocol level and will introduce a more pragmatic future for businesses and technology-seeking methods for exchanging large amounts of data with fast confirmations.“

Security, privacy and scalability

Aleph Zero uses both zero-knowledge (ZK) and multi-party computation (sMPC) technology. 

Zero-knowledge technology adds both privacy and scalability to blockchains. It’s a type of cryptography that allows something to be proven without actually revealing the information that proves it. Learn more here. 

Multi-party computation ensures the security and privacy of data through multiple computers which can’t access information without unanimous consensus. 

Azero ecosystem

Aleph Zero’s goal is to provide a scalable and secure platform on which decentralised applications can be built. 

The platform features integration with the Substrate stack (a software development framework to build blockchain technology). 

It aims to drive Web3 adoption by bridging “the gap between scalability, security, developer friendliness, and cost of use.”

According to Aleph Zero, “the technology was built with customizable business solutions in mind that interact with other parties… businesses can interact with each other in a trustless manner efficiently and cheaply while still maintaining their own private network.”

Following its mainnet launch, Aleph Zero has seen significant adoption by developers. Its partners and developers include MetaMask, KuCoin, and Gate.io.

View Aleph Zero’s roadmap here.

AZERO

AZERO is Aleph Zero’s native coin. It’s used to secure the network through staking, pay transaction fees, and vote in governance.

The token’s total supply is 300M, and its distribution is as follows:

• Team: 10%
• Foundation: 23%
• Pre-seed: 17%
• Seed: 17%
• Public presale: 18%
• Early community: 5%
• Public: 10%

For AZERO’s vesting schedule, click here. Or, to learn more about Tokenomics, vesting schedules and token distribution, click here.

Staking

Aleph Zero is a proof of stake (PoS) blockchain. So, it uses a staking mechanism to secure the platform. 

Staking involves temporarily locking AZERO tokens. Both validators and nominators are rewarded in proportion to their stake:

• Validators run Aleph Zero nodes, process transactions, and validate blocks to help secure the network. Validators need to stake at least 25,000 AZERO and have a specified technical set-up. Read more here.
• Nominators don’t run nodes but still contribute to Aleph Zero’s security and earn staking rewards by using their stake to nominate validators.  

Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.