Aleph Zero (AZERO) operates as a privacy-focused blockchain designed to enhance web3.0 activities. The protocol provides open access to privacy-enhancing tools to empower developers to create more robust systems. Alpha Zero continues to raise eyebrows across the network due to its unique combination of features, costs, and performance.
How Does Aleph Zero Work?
Aleph Zero was designed to support the latest Web 3.0 and DeFi use-cases. The network operates as a public blockchain that integrates elements from Parity’s Substrate stack. The network is a Directed Acyclic Graph (DAG)-based platform that supports Secure Multi-Party Computation concepts.
Aleph Zero also integrates a cloud computing aspect as part of its decentralized file storage system. The network enables developers to leverage powerful off-chain sensors called oracles and supports Application Programming Interface (API) hooks, which adds to its overall flexibility.
What Problems Does Aleph Zero Attempt to Fix?
Aleph Zero (AZERO) helps to solve some key pain points in the market. For one, the network operates in a decentralized manner. There are no central groups or developers to censor your payments or participation. The network provides open access to advanced DeFi functionalities.
Congestion
Congestion issues are still a primary concern for crypto users. Networks like Ethereum are in the midst of record-high congestion which has led to high gas fees. When gas fees go up, regular users suffer because they pay more for all transactions on the network. Alpha Zero introduces a new consensus mechanism to provide the network with top-notch scalability.
High Fees
Another major problem that goes alongside congestion is high fees. Gas fees are the cost of paying nodes to execute smart contracts and transactions. Gas fees rise when a network becomes congested. This strategy is meant to help reduce spam posts on the blockchain.
These fees have now hit record levels with some users unable to send transactions because the gas price is over the value being sent. Alpha Zero reduces fees across the board thanks to its unique technical structure. The average transaction fee on Alpha Zero is just 0.0003.
Private
Privacy is a major issue for both users and developers. For users, privacy is the first layer of protection against online threats. No one will hack you if they don’t believe there is any reason to attack you. Alpha Zero doesn’t require your personal information like a bank. As such, your data remains securely in your possession.
This approach is ideal for traders as data breaches are on the rise. Major exchanges like Coinbase have already been hacked and user information stolen. The best way to prevent your data from getting in the wrong hands is to never give it out in the first place.
Developers also enjoy more privacy control measures when building on Aleph Zero. Developers can create and monitor private smart contracts on the network. Private smart contracts are a game-changer because they enable Dapps to be more immersive and to communicate with private networks.
Benefits of Aleph Zero
There are some key benefits that make Aleph Zero a cool protocol to consider. For one, the network is enterprise-ready. Everything about the platform was designed to meet the needs of large clientele. There is support and access to vital data at your fingertips. In this way, Aleph Zero does its part to promote blockchain adoption.
Secure
Security is another main concern for users. The developers went to great lengths to ensure their platform was safe for users of all backgrounds. The system was designed to operate independently of external vendors as part of this approach. The Aleph Zero blockchain has been both peer-reviewed and audited by Trail of Bits in 2021.
Scalable
Scalability is an issue that can’t be ignored. Today’s advanced DeFi-capable blockchains need to be able to handle transaction throughput on par with top-performing payment processors. Aleph Zero provides excellent transaction throughput to the market. The protocol provides ultra-low latency with instant finality on transactions.
According to company documentation, the Aleph Zero network can handle 89,600 tx/s with a 416 ms confirmation times. Additionally, the protocol combines this speed with a dynamic fee structure to keep spam posts in check as the network expands.
Liminal
At the core of Aleph Zero’s privacy-centric approach is the Liminal protocol. This privacy framework is what enables Aleph to host private smart contracts securely. This system leverages Zero-knowledge Proofs (ZKPs) and secure Multi-Party Computation (sMPC) to provide its services to the network.
Common
Common is the first DEX built on Aleph Zero. This protocol operates in a non-custodial manner. Users can save on fees and enjoy maximum privacy when using Common. It’s free to join and there are no KYC requirements. Best of all, the exchange has low fees compared to the competition.
Token
AZERO is the utility token for the Aleph Zero network. This token enables users to interact with the features of the network. It’s also used as the main reward token for the protocol. The token can be sent globally in a permissionless manner utilizing the Aleph Zero blockchain.
Consensus
Aleph Zero leverages a Proof-of-Stake consensus protocol. The AlephBFT conenoses system has undergone peer review to ensure safety and security. The system integrates special nodes that rotate every 15 minutes. These nodes are elected daily as part of the network’s strategy to reduce centralization.
Bottom Line
The Aleph Zero project helps to fill a much-needed niche in the market. Institutional and enterprise users have long wanted exposure to blockchain technologies. However, in the past, there weren’t any protocols geared towards these specific needs. Aleph Zero fills this request and provides a host of other helpful features to drive blockchain adoption forward.
