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Market Cap

₹21.47 B -0.3501%

Circulating Supply

310180000

Max Supply

--

Volume

₹185.44 M

All Time High :

₹236.15

All Time Low :

₹46.16

Price change in 24H :

₹-0.423656

24H High :

₹71.57

24H Low :

₹67.17


Aleph Zero (AZERO) Price Live Chart


Aleph Zero (AZERO)

Aleph Zero is a layer 1 blockchain designed to boost privacy, prioritizing speed and efficiency comparable to traditional web2 systems. It maintains strict criteria for safeguarding data privacy and transaction security while striving for increased decentralization in the future. Its adaptability shines through over 40 actively developed use cases, demonstrating its versatility across multiple sectors and applications.


What is Aleph Zero?

Aleph Zero represents a Layer 1 blockchain technology offering developers a secure and scalable environment with flexibility. It serves as an enterprise-ready, privacy-centric blockchain featuring low transaction fees, Substrate integration, and a peer-reviewed consensus protocol.

Within the Aleph Zero ecosystem lies a decentralized and secure infrastructure, facilitating scalability through a smart contracts platform. Developers leverage a network of validators, Substrate stack integration, and a peer-reviewed consensus protocol for rapid and secure DApp development and deployment.

The Substrate stack, supported by Parity Technologies, enables custom blockchain development. At its core, directed acyclic graph blockchain technology (DAG) ensures efficiency, even during high transaction volumes, with settlements occurring via distributed ledger technology.

Aleph Zero distinguishes itself by utilizing secure multi-party computation and zero-knowledge proofs to safeguard sensitive data. These features position the Aleph Zero network as an increasingly favored choice among developers, especially in sectors like finance that prioritize data privacy.


History of Aleph Zero

Aleph Zero was specifically designed to address common challenges found in other networks, such as poor developer and user experiences, mediocre privacy, and issues related to security, decentralization, and scalability.

 Its mainnet launched on Nov 10, 2021, following work that commenced in 2018. Co-founded by Matthew Niemerg, Adam Gagol, Antoni Zolciak, Birk Hintze Thisted, and Michal Swietek, the project now involves over 40 individuals.


How Does Aleph Zero Work?

Aleph Zero operates as a layer-1 blockchain powered by the AlephBFT consensus algorithm. This protocol ensures asynchronous Byzantine failures, allowing it to function even if some nodes are malicious or unavailable.

By utilizing Byzantine Fault Tolerance (BFT), Aleph Zero ensures transparent communication among nodes, even in the presence of potentially malicious ones. The BFT consensus framework operates under the assumption that if less than one-third (⅓) of the nodes act maliciously and at least two-thirds (⅔) behave honestly, the blockchain remains secure with an unaltered transaction history.

To overcome the challenges of implementing BFT in a decentralized setting, Aleph Zero employs rotating committees. This strategy assigns different groups of nodes to validate transactions at different times, making collusion among malicious nodes more difficult.

Moreover, Aleph Zero uses asynchronous operations to bolster security, allowing nodes to operate independently without waiting for responses from others before confirming transactions. This enhances the network's resilience against disruptions.

AlephBFT combines Proof of Stake (PoS) and Directed Acyclic Graphs (DAGs). PoS allows nodes to engage in the consensus process by staking tokens, while DAGs facilitate parallel transaction processing, improving scalability. The fusion of BFT, DAGs, and asynchronous operations positions Aleph Zero as a highly secure and scalable blockchain, enabling swift transaction processing, increased throughput, and reduced transaction costs.


Attributes of Aleph Zero

Aleph Zero's network is a flexible system designed to uphold privacy, boost transaction speed, and reduce fees. Simultaneously, it streamlines developers' endeavors by virtue of its structure and functionalities. Let's delve into the primary characteristics defining Aleph Zero.

  • AlephBFT Consensus: While blockchain systems are susceptible to various threats such as 51% attacks, double spending, and denial-of-service attacks, Aleph Zero counters these risks using the AlephBFT consensus protocol to heighten security. Transaction validation necessitates agreement from only 67% of committee members, bolstered by its asynchronicity, guaranteeing authentication of all legitimate private transactions. Moreover, the network is decentralized and leaderless, further fortifying its security measures.

  • Aleph Zero Cloud: Aleph Zero boasts a decentralized cloud-based file storage system that integrates with the InterPlanetary File System (IPFS) through application programming hooks. This storage system, complemented by proprietary features, supports scalable private smart contracts.

  • Liminal: Another pivotal aspect of Aleph Zero is Liminal, a multichain privacy layer that acts as a bridge connecting Aleph Zero with other chains. Its functionalities rely on secure multiparty computation and a software-based framework leveraging zero-knowledge proofs.

  • Staking: Aleph Zero incorporates a staking mechanism vital for maintaining stability and security within its proof-of-stake (PoS) blockchain. This system involves nominators and validators. To stake AZERO, Aleph Zero's native coin, users must temporarily lock or bond some coins as collateral.
    Nominators, who aim to contribute without running nodes, stake digital assets to nominate validators, granting them augmented voting power. Since validating requires technical proficiency to earn AZERO rewards, nominating is the more prevalent method of contributing to the blockchain.

  • Validation: Validators operate nodes on the Aleph Zero blockchain, responsible for validating blocks, processing transactions, and finalizing blocks through the AlephBFT consensus. Becoming a validator mandates staking at least 25,000 AZERO and possessing the technical know-how to run the node software, rewarded with AZERO tokens.
    Annually, 30 million new AZERO tokens are minted, with validators and nominators collectively receiving 90% as rewards, while the remaining 10% is allocated to the incipient Ecosystem Fund.

  • Common: Common serves as a decentralized exchange (DEX) on Aleph Zero and features a trustless universal wallet. Users can create or import wallets onto the blockchain, manage accounts through Polkadot, and access third-party wallets like Fearless Wallet, Nova Wallet, and Talisman, among others, within the Aleph Zero ecosystem.


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