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Aleph Zero is a Layer 1 blockchain platform that utilizes a novel, peer-reviewed consensus protocol, AlephBFT. The platform aims to solve the shortcomings of DLT base layers and tackle the problem known as the Blockchain Trilemma. Aleph Zero is built on Substrate, an open framework developed by Parity and the Polkadot developer community, making it an independent Layer 1 platform.
- Overview
- Consensus Protocol
- Decentralized Governance
- Economy
- Staking
- Validating
- Smart Contract Language Repository
- References
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Overview
Aleph Zero introduces a software-based privacy layer, Liminal, based on zero-knowledge proofs and secure multi-party computation. The platform's $AZERO coin can be purchased at several centralized exchanges, such as MEXC Global, KuCoin, Huobi Global, or Gate.io.
The Aleph Zero team comprises experts from various scientific and business backgrounds, with the core research and development partner being Cardinal Cryptography, a cryptography consulting firm founded by Aleph Zero co-founders and located in Krakow, Poland.
Consensus Protocol
AlephBFT, the consensus protocol of Aleph Zero, allows multiple users to create units/blocks simultaneously. The blocks are subsequently ordered and validated by the consensus, allowing for significant gains in both speed and throughput of the platform. Aleph Zero ensures ultimate safety with three qualities: being asynchronous, leader-free, and Byzantine Fault Tolerant.
Decentralized Governance
Aleph Zero aims to achieve complete decentralization, with a roadmap that describes the process of decentralizing Aleph Zero from a network validation perspective. The process involves introducing the Aleph Zero Foundation nodes, implementing the nomination mechanism, introducing external committee validators, and finally, decentralizing from the network validation perspective.
Economy
The $AZERO coin is inflationary with an annual 30,000,000 released as staking rewards and an infinite supply predicted. Aleph Zero has allocated 23% of the tokens to the Aleph Zero Foundation and 10% to the team. The Foundation's supply will be used for the ecosystem fund, research and development, marketing, operations, as well as ecosystem incentives and other operational expenses.
Staking
The staking process on the Aleph Zero blockchain is organized in periods called eras. Each era lasts approximately 24 hours, and throughout an era, all staking-related data on the chain is kept "frozen". Changes to staking choices can be made at any moment, but the changes will become effective only at the start of the next era.
Validating
In the Aleph network, a node can have one of two roles: an archivist, who only stores the blocks and can respond to queries about the network state, or a validator, who actively participates in the consensus and is tasked with producing new blocks. Validators can be staked upon and receive rewards for their efforts.
Smart Contract Language Repository
References
- Aleph Zero FAQ
- The Economy of Aleph Zero
- AlephBFT Consensus
- Decentralized Governance on Aleph Zero
- Staking Basics
- Validating Overview