THELOGICALINDIAN - With the accession the aggregation aims to body a scalable and privacyoriented blockchain
Aleo has aloft $200 actor in a alternation B allotment annular to body a new Layer 1 blockchain focused on scalability and user privacy.
Aleo Pulls In VC Backing
Aleo, a Layer 1 blockchain focused on scalability and privacy, has bankrupt a $200 actor allotment round. The aggregation appear in a tweet that it hoped to “build the next-generation of clandestine apps powered by zero-knowledge proofs.”
The allotment annular was bankrupt at $1.45 billion valuation. It led by SoftBank Vision Fund 2 and Kora Management, with accord from notable VCs as Tiger Global, Andreessen Horowitz (a16z), Samsung Next, Slow Ventures, and Sea Capital.
Aleo was created by Howard Wu, who based it on his aboriginal analysis on a atypical cryptographic archaic alleged ZeXe.
The Layer 1 blockchain will apply a aegis archetypal in which decentralized applications are hosted on-chain but best computations booty abode off-chain. To do this, Aleo will await on of zero-knowledge proofs. Notably, such proofs are currently actuality acclimated by absolute blockchain scalability solutions on Ethereum, including Polygon Miden, StarkWare, zkSync, and Loopring.
The Aleo testnet is currently alive with a mainnet barrage planned soon. Once that goes live, blockchain will accolade validator nodes with its built-in token, Aleo Credits. The badge will be acclimated to pay for computational assets in the Aleo blockchain ecosystem.
Aleo has additionally appear Aleo Studio, a development ambiance like GitHub that will be acclimated alone for zero-knowledge proofs. The aggregation has additionally developed a new programming accent called Leo. Both of these assets are geared against simplifying the experience of deploying applications on the network.
As of today, Aleo has aloft a absolute of $228 million. It bankrupt a Series A annular of $28 million led by a16z in April 2021.
Disclosure: At the time of writing, the columnist of this allotment owns ETH.
