Aleo is the first platform offering completely private applications (dApps). It becomes possible by encrypting user data online using zero-knowledge cryptography and using decentralized network.
Data may be transmitted between two parties using the Zero-Knowledge Proof protocol without the need for a password or any other transaction-specific information. It is a technique through which one party (the verifier) can demonstrate to the other party (the verifier) the truth of a statement without revealing any additional information.
The Aleo platform enables developers to construct decentralized applications that provide consumers with customized Web3 services without relinquishing control over their personal data by utilizing cutting-edge technology known as zero-knowledge cryptography.
Why is it so important? Because we can use the internet more effectively than we do currently without leaving behind extractable traces of our data. We may profit from the benefits of the internet’s worldwide connectivity without having to pay the hidden price of our privacy.
Aleo transactions are handled off-chain and merely confirmed (not executed) by network nodes, in contrast to other blockchains like Ethereum. As a result, the platform can handle more transactions. While adhering to current laws, developers will be able to construct apps that can handle complicated activities that presently call for centralized servers.
A decentralized network with opt-out privacy that combines the greatest features of both worlds is the best option. Users are able to share any information they like with anyone they choose. No party can make self-interested and unjust actions if they cannot acquire information or exploit information asymmetry. Additionally, it gives users back control by allowing them to choose how much or little information about themselves or how they interact with others is shared.
Aleo is the first platform for completely private apps. With the use of blockchain technology and zero-knowledge cryptography, Aleo offers a brand-new online experience that is both private and personal. The big advantage of the project is that even developers who are not specialists in blockchain or cryptography may create private apps with Aleo.
Recently, the project raised $228M from the such funds, as: a16z, Coinbase Ventures, Polychain Capital, Galaxy Digital, etc.
Learn more about the project:
Twitter - https://twitter.com/AleoHQ
GitHub - https://github.com/AleoHQ
Discord - https://discord.gg/aleohq
