WTF is Aleph Zero?
Aleph Zero aims to be the premier public blockchain that also enables private smart contracts to its users. Aleph Zero is a peer-reviewed DAG-based platform that’s scalable, private, and developer-friendly.
Aleph Zero is a Proof-of-Stake public blockchain with private smart contracts built from the first principles. They combined an original consensus protocol with a privacy framework based on ZK-SNARKs and sMPC with the Substrate stack.
What Makes Aleph Zero Unique?
1. Aleph Zero Guarantees a Trader’s Security
As life becomes more digital and virtual, our digital foot prints become increasingly sensitive, vital and valuable. Fortunately, Aleph Zero has the potential to alter how the data is handled drastically. This is possible thanks to Aleph Zero’s system that helps to prevent fraud and unlawful behavior. They do so by producing a record that can't be changed and is encrypted end-to-end. Mostly, user privacy concerns are handled by anonymizing personal data and limiting access through permissions.
Furthermore, because data is stored over multiple computers rather than on a central server, hackers will have a tough time gaining access. Like any other public blockchain, their system grows more secure as it becomes more decentralized and active. As the network grows in size, it becomes increasingly difficult for any form of attack to succeed. Malicious actors will find it nearly impossible to gather together and take control of the network.
What’s more, traders do not need to be skeptical when using Aleph Zero because the system records every transaction is made available to the public. That said, everyone is motivated to do the right thing for the network's benefit. Consequently, the need to hire third parties to verify transactions is eliminated, which helps lower costs even further.
2. High Level of Transparency
Without public blockchains like Aleph Zero in the market, each company would have to maintain its database. However, this would mean that information is not publicly available for traders to verify. Fortunately, transactions and information on Aleph Zero are recorded similarly in different locations because they use a distributed ledger. The same information is visible to all network members with permission at the same time, ensuring complete transparency. This allows members to see the whole transaction history, thus eliminating the possibility of fraud.
In any shared network system, nothing beats complete trust. The policy is so straightforward that if a trader has a copy of their ledger, the firm will make it fully visible to others. That way, users will have complete access to the database as a user at all times. This eliminates any disparities or grey areas in the system, as well as the possibility of corruption.
3. Past Transactions are Easy to Trace
Aleph Zero provides an audit trail that documents its provenance at each stage of an asset’s journey. This helps with verification purposes in areas where consumers are worried about ecological or human rights issues concerning a product. In addition, it promotes ethics and accountability in industries plagued by piracy and fraud. More interestingly, the firm makes it easy to exchange data regarding transactions directly with customers using the system.
4. Efficiency and Speed of Transactions is Greatly Improved
Traditionally, transactions take time, are prone to human error, and frequently necessitate third-party intervention. Fortunately, with Aleph Zero, transactions can be completed faster and more accurately by streamlining these processes using their public blockchain system. More importantly, documentation, along with crypto-currency transaction details, can be stored on the system, removing the need for paper exchange. Consequently, there’s no need to go through several ledgers, which makes clearing and settlement much faster.
5. Aleph Zero Promotes Automation through Smart Contracts
By using smart contracts, Aleph Zero automates operations, increasing trading efficiency and speeding up the entire process. Usually, the next stage in the transaction is automatically triggered after the pre-specified criteria are met. Moreover, smart contracts eliminate the need for human intervention and the reliance on third parties to verify that contract requirements have been satisfied. For instance, when a customer provides all necessary evidence to file a claim, the claim can be immediately settled and paid.
6. Privacy & Anonymity to Users
The anonymity feature of Aleph Zero is one of the reasons it has attracted so many users. This is because it is a safe and secure open platform where traders may conduct business effectively and safely. However, they are not needed to disclose their true identity or name to participate. As such, no one can trace your activity on the network if your identity is secured.
7. True Decentralization
One of the main attractions of Aleph Zero is the presence of true decentralization. Remember, this is a feature that most private blockchains lack. Fortunately, Aleph Zero’s network is not maintained by a single central platform. Instead, it is a distributed system in which each user owns a copy of the ledger. In addition, the ledger is updated on a consensual basis, and maintenance operations are performed from various nodes.
Who's On The Team?
Aleph Zero’s success so far can largely be attributed to teamwork. This is because the company comprises a team of 20 people all of who serve different roles such as graphic designers, developers, and managers. For example, 5 Ph.D. graduates in math and computer science are responsible for running the firm’s digital system. As a team, the company has won various awards through the efforts of its members. These awards include ICPC World Finals and the first winner of international mathematics competition, among others.
Matt Niemberg, Co-founder & CEO - Earned a Ph.D. in Mathematics in the field of Numerical Algebraic Geometry from Colorado State University. A Simons-Berkeley Fellow and also an IBM Center of Excellence Fellow in High Performance Computing at Oak Ridge National Laboratory. Has been actively involved in the DLT space since 2014. Has provided consultation to numerous projects related to security and consensus models, cryptographic schemes, as well as applying sound business and technological models for projects in the DLT space.
Adam Gogol, Co-founder & CTO - Received Ph.D. in mathematics for his work on applications of probabilistic method in combinatorics. During his doctoral studies, he was a beneficent of a SET project for interdisciplinary research and SSDNM fellowship for mathematical sciences. While his main domain is combinatorics, he is open to new technologies and has 4 years of experience in data science and machine learning applied in neuroscience research. He has been working as a freelance consultant in various areas spanning from mathematical modeling to deep learning.
Antoni Zolciak Co-founder & COO- Technology marketer with 10 years of professional experience. Involved in various public relations and marketing projects for ING, Samsung, Sony, Olympus, and Nikon. Antoni gained experience at the Corporate Communications department of ABB in Zurich while employed at Admind Agency, the largest Polish branding firm. Before joining In’saneLab as VP of Marketing, he worked as an inbound marketer for Brand24 and Codewise, the 2nd-fastest growing company in Europe according to The Financial Times. Member of American Marketing Association. At Aleph Zero, he combines the roles of COO and CMO, as well as takes care of the organizational culture.
Who's Funding Aleph Zero?
In the beginning, the founders of Aleph Zero contributed $2 million dollars to fund its initiation. This was in January 2018. Two years later, the company sourced more funding from Aura Block and ten other key investors. During the second round of funding, the company was able to raise 2.85 million dollars in capital.
Do They Have Any Significant Partners?
Aleph Zero has more than 25 partners and investors. Most of these are companies that invest in start-ups that seem to have a promising future. Here is a list of some of their top investors and partners:
• Crypto Valley
• Ubik Capital
• Necker Ventures
• Black Dragon
• Aura Block
• Petrock Capital
Remember, these are just some of the organizations that have partnered with Aleph Zero. The firm is one of the most promising firms in the digital trading market. As such, it has not had any difficulties convincing investors to partner with them.
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