Aleo is committed to building a modular and compliant zero-knowledge privacy application platform for building the ultimate toolkit for private applications. It uses decentralized systems and zero-knowledge encryption technology to protect user data on the Web to achieve this goal. The core is to provide users and application developers with unlimited computing space and absolute privacy. With Aleo, users can access the world of personalized Web services without giving up control of their private data.

The motivation of Aleo

1. Existing blockchains are inadequate for real-world applications

The concept of building smart contract mixers and dark pools on Ethereum is still flawed. Without privacy, these applications cannot fully protect user activity. It just doesn't work. For companies, the benefits of running business logic and data on a globally consistent platform are compelling. However, the lack of privacy is a fundamental barrier to compliance with the guidelines. For real-world adoption, we need blockchains that are private by default.

1. New technologies attract players who complicate the value proposition of the technology

We see this in many ecosystems, including ours. For example, the recent emergence of closed-source scalability engines is the second wave of the initial era of "permissive blockchains". It goes without saying that vendor lock-in is rarely a good thing, especially when it is associated with "no-trust" solutions. However, by building technology that is completely controlled by one company and available only from one company, it is, by definition, a "trusted" solution. To demonstrate the value proposition of the new technology, the solution should be open source and permissionless.

1. The importance of private network data in the development of Web services

Over the next decade, Web services will evolve into truly personalized services that live in more places than just your browser and can reason about every intimate detail of our personal lives. There are already some examples of this. In the last five years, for example, the number of smart assistants in the home has grown from zero to 5 billion connected devices. Our private lives have become a public good, and as online services become more personalized, we need to rethink how we control our data.

If it's online, someone else owns it. The web's business model is to offer free services in exchange for personal data. This model is outdated and puts users at odds with providers. Users are forced to give up their data in exchange for the services they want, at the expense of personal privacy. The provider assumes the risk of managing user data to provide services, with storage, processing and reporting implications. It doesn't have to be this way, nor should it.

Instead, users should be able to run their data on transparent algorithms from the provider. The provider should not need to store, process, or report user data. Instead, they should be able to offload their work to the user and only validate the response. By providing services in this way, neither the user nor the provider learns more than they should, and the control over personal data remains with the user.

The goal of Aleo

Privacy is crucial to a complete Web3 user experience. While public blockchains provide huge financial access, the fact that transactions are transparent and visible to all leaves opportunities for exploitation and arbitrage.

One proposed solution is absolute privacy. But absolute privacy precludes programmability by completely obfuscating everything about a transaction. The example of decentralized finance (DeFi) shows the importance of programmability for any expressive blockchain network. Until now, users have had to choose between the two: privacy or programmability.

conclusion

The main purpose of the Aleo project is to advance the security and privacy level of web applications (or blockchain projects), and to promote the application of zero-knowledge proof in practical areas through Aleo Studio, an IDE compiled using Leo language. In general, it conforms to the trend of blockchain development, and the current achievement is good, and the financing amount is also satisfactory.

Aleo is committed to building a modular and compliant zero-knowledge privacy application platform for building the ultimate toolkit for private applications. It uses decentralized systems and zero-knowledge encryption technology to protect user data on the Web to achieve this goal. The core is to provide users and application developers with unlimited computing space and absolute privacy. With Aleo, users can access the world of personalized Web services without giving up control of their private data.

The motivation of Aleo

1. Existing blockchains are inadequate for real-world applications

The concept of building smart contract mixers and dark pools on Ethereum is still flawed. Without privacy, these applications cannot fully protect user activity. It just doesn't work. For companies, the benefits of running business logic and data on a globally consistent platform are compelling. However, the lack of privacy is a fundamental barrier to compliance with the guidelines. For real-world adoption, we need blockchains that are private by default.

1. New technologies attract players who complicate the value proposition of the technology

We see this in many ecosystems, including ours. For example, the recent emergence of closed-source scalability engines is the second wave of the initial era of "permissive blockchains". It goes without saying that vendor lock-in is rarely a good thing, especially when it is associated with "no-trust" solutions. However, by building technology that is completely controlled by one company and available only from one company, it is, by definition, a "trusted" solution. To demonstrate the value proposition of the new technology, the solution should be open source and permissionless.

1. The importance of private network data in the development of Web services

Over the next decade, Web services will evolve into truly personalized services that live in more places than just your browser and can reason about every intimate detail of our personal lives. There are already some examples of this. In the last five years, for example, the number of smart assistants in the home has grown from zero to 5 billion connected devices. Our private lives have become a public good, and as online services become more personalized, we need to rethink how we control our data.

If it's online, someone else owns it. The web's business model is to offer free services in exchange for personal data. This model is outdated and puts users at odds with providers. Users are forced to give up their data in exchange for the services they want, at the expense of personal privacy. The provider assumes the risk of managing user data to provide services, with storage, processing and reporting implications. It doesn't have to be this way, nor should it.

Instead, users should be able to run their data on transparent algorithms from the provider. The provider should not need to store, process, or report user data. Instead, they should be able to offload their work to the user and only validate the response. By providing services in this way, neither the user nor the provider learns more than they should, and the control over personal data remains with the user.

The goal of Aleo

Privacy is crucial to a complete Web3 user experience. While public blockchains provide huge financial access, the fact that transactions are transparent and visible to all leaves opportunities for exploitation and arbitrage.

One proposed solution is absolute privacy. But absolute privacy precludes programmability by completely obfuscating everything about a transaction. The example of decentralized finance (DeFi) shows the importance of programmability for any expressive blockchain network. Until now, users have had to choose between the two: privacy or programmability.

conclusion

The main purpose of the Aleo project is to advance the security and privacy level of web applications (or blockchain projects), and to promote the application of zero-knowledge proof in practical areas through Aleo Studio, an IDE compiled using Leo language. In general, it conforms to the trend of blockchain development, and the current achievement is good, and the financing amount is also satisfactory.