What is Aleph Zero (AZERO)? Scalable Blockchain Network with a Privacy Focus

Bittime - What is Aleph Zero (AZERO)? This network offers an attractive solution, combining high scalability, decentralization and security with advanced privacy features. 

This article will discuss in more depth what Aleph Zero is, its technology, and its potential in the future. Don't forget, here we will discuss the AZERO token which will be listed on Bittime, you know. So, keep watching!

Apa Itu Aleph Zero (AZERI)?

The rapid development of crypto and smart contracts has given rise to a new digital economy that operates in a decentralized manner. However, the blockchain technology that is the foundation of crypto has limitations. Its transparent nature means that all transactions, balances and user interactions can be tracked.

Aleph Zero is here as a solution to these privacy needs. The network provides confidential "smart contracts" that allow users to interact anonymously. The level of contract privacy can be adjusted by the developer.

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Teknologi Aleph Zero (AZERO)

The heart of Aleph Zero's privacy capabilities lies in a special layer called "Liminal." This layer leverages advanced cryptographic technologies such as ZK-SNARKs and Secure Multi-Party Computation (sMPC) to create a more confidential environment for its users.

ZK-SNARKs allow users to prove ownership of certain data without having to reveal its contents. For example, users can prove their ability to purchase goods without showing their balance. 

Meanwhile, sMPC involves multiple computers that store incoming data, perform joint calculations, and verify transactions without revealing each user's individual input. In this way, the confidentiality of each participant's information is maintained.

It is this combination of ZK-SNARKs and sMPC that forms the foundation of Liminal. ZK-SNARKs verify transaction integrity without exposing data, while sMPC completes the transaction. The combination of the two results in a revolutionary layer of privacy.

Potensi Aleph Zero (AZERO)

With blockchain technology and its own network, Aleph Zero's potential is nearly limitless. Developers can take advantage of the multiple layers that Aleph Zero offers to build their applications. 

However, several organizations and protocols have announced their interest in using the network, spanning the crypto market, legal consulting services and software development sectors.

Aleph Zero also has a staking feature, where AZERO tokens can be deposited to secure the network and earn rewards in the form of new tokens. In addition, AZERO is used to pay transaction fees and swap fees on Decentralized Exchanges (DEX) built on the Aleph Zero network.

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Aleph Zero Ecosystem

The Aleph Zero main network launched in 2021 and immediately attracted the interest of various projects. The ability to run smart contracts, which will only be available in March 2023, further strengthens Aleph Zero's appeal. 

Since then, their main network has continued to be filled with new projects. These include DeFi (decentralized financial) platforms, Decentralized Exchange (DEX), lending and borrowing platforms, Metaverse projects, DAOs (Decentralized Autonomous Organizations), launchpads, and NFT projects. 

As more projects join, a network effect is created, attracting more users and capital.

What is AZERO Token?

AZERO is the native crypto token of Aleph Zero. This token plays an important role in network operations, security and utility. AZERO holders can participate in securing the network through staking. 

This process involves storing tokens to support the network consensus mechanism while earning staking rewards. Staking helps maintain network integrity and resilience against attacks.

AZERO is also used to pay transaction fees on the Aleph Zero network. This fee is compensation for validators who process transactions and secure the network, thereby ensuring operational efficiency and scalability.

Additionally, AZERO tokens can be used to pay swap fees on DEXs built on the Aleph Zero network. This facilitates liquidity and trading of various assets in a decentralized manner.

Aleph Zero's multichain privacy solution, Liminal, enables “wrapping” of assets. AZERO acts as collateral for these wrapped assets, enabling secure and confidential transactions across different blockchain networks.

Not only that, AZERO holders can participate in the governance of the Aleph Zero network. They have the right to vote on proposals that shape the development direction, parameters and future of the network, thereby realizing decentralized and community-centered governance.

Tokenomics Token AZERO

AZERO token distribution is strategically designed to support community development, growth and participation. Of the total token supply, 23% is allocated to the Aleph Zero Foundation and 10% to the project team. 

This allocation demonstrates a commitment to research, development, marketing and long-term operational improvements. The Foundation's funds are focused on strengthening the ecosystem through ecosystem funds, with an emphasis on innovation and ensuring robust operational capacity. 

In the next phase, the community will gain voting rights on non-core treasury spending, signaling a move towards decentralization and greater community participation.

For the team's part, their tokens will be released carefully, with 80% locked for one year followed by a four-year vesting period. This approach reflects a long-term commitment to the project.

Since its inception, fundraising has played an important role in Aleph Zero's journey. It started with a pre-seed round in 2018, where tokens were circulated at $0.04 per token using a Simple Agreement for Future Tokens (SAFT) model. 

This round distributes 16.667% of the total coins. Meanwhile, half is available at the Token Generation Event (TGE) and the rest is divested for 15 months.

Subsequent funding rounds, including a seed round and a special Early Community round. It offers tokens at higher prices and varying vesting requirements to balance immediate liquidity with the long-term commitment of stakeholders. 

The pre-sale and subsequent public sale phases expanded token distribution, with the public sale setting a price of $0.10 per token. This represents a significant increase from the initial pre-seed price. 

All tokens from the public sale are available on TGE, providing liquidity and incentives for new participants in the Aleph Zero ecosystem.

Conclusion

Aleph Zero delivers an innovative blockchain solution that combines scalability, decentralization, security and privacy. Its cutting-edge technologies, such as ZK-SNARKs and sMPC, enable confidential and secure transactions, opening up new opportunities for various applications and projects. 

With a growing ecosystem and well-structured tokenomics, Aleph Zero has great potential to become a major player in the blockchain landscape of the future.

Well, that's a review of what Aleph Zero (AZERO) is. Hopefully useful, yes!

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