Privacy-Focused Blockchain Project Aleo Raises $200 Million From Softbank, Tiger, And Others
Industry News
Aleo, a blockchain venture that focuses on data protection through zero-knowledge-proof systems, has brought up $200 million in a Series B funding round. The initiative was spearheaded by SoftBank Vision Fund 2 and Kora Management, with involvement from noteworthy companies such as Samsung Next, Tiger Global, Andreessen Horowitz, Slow Ventures, and Sea Capital.
According to the initiative’s chief executive officer, Howard Wu, Aleo intends to develop a GitHub-like firm. Aleo’s team has also developed its own scripting language, Leo, to make it easier for programmers to construct decentralized and secured apps.
The dev team has built its own Layer 1 blockchain platform, which enhances both scalability and privacy dramatically. Aleo features a novel computing method known as ZeXe. ZeXe, which stands for zero-knowledge execution, helps make off-chain computation with on-chain verification by default for scalability and privacy.
The Aleo testnet is already operational, with a mainnet debut expected in the near future. The mainnet will be launched with “Aleo credits,” which will function similarly to the company’s native token. In the Aleo blockchain environment, the token will be used to pay for computing resources.
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