Breaking the Limits: The Power of Aleph Zero’s Layer 1 Zero-Knowledge Proof System
Aleph Zero : Zero-knowledge, scalable layer 1
Aleph Zero is a layer 1 privacy-enhancing blockchain that ensures scalability, low transaction fees, instant finality, and optimal security.
What is Aleph Zero?
Aleph Zero is a privacy-enhancing public blockchain featuring integration with the Substrate stack, it solves the shortcomings of current distributed ledger technology platforms by offering superior speed, validation time, scalability, and security.
Aleph Zero achieved validation times of 416 milliseconds for a simulated amount of 89’600 transactions per second (TPS). The environment this testing was conducted in consisted of 112 Amazon Web Services (AWS) nodes spread across five continents. The current iteration of Aleph Zero was implemented in Rust to allow for integration with Parity’s Substrate technology stack.
Background of Alph Zero
Aleph Zero is powered by a custom algorithm that takes advantage of Directed Acyclic Graph (DAG) technology to create an efficient and decentralized system. It surpasses industry competition by employing a practical approach to the transfer of value and the extensibility of smart contracts. The validation times are always fast regardless of the number of transactions. Aleph Zero represents our vision for decentralized technology at the protocol level and will introduce a more pragmatic future for businesses and technology-seeking methods for exchanging large amounts of data with fast confirmations. The technology was built with customizable business solutions in mind that interact with other parties and allow for settlements to be made on a truly decentralized ledger thus proving the authenticity of centralized records.
Overall, the goal of Aleph Zero is to make it possible for SMBs and enterprises to communicate at a rate close to what they would expect with regular internet communication while still utilizing the benefits of decentralization.
AlephZero Ecosystem
The Aleph Zero ecosystem consists of a web of interconnected projects, initiatives, and partnerships that are dedicated to building the Web3 future.At the moment, Aleph Zero’s ecosystem consists of the following:
- AlephBFT Consensus: A novel DAG protocol Aleph Zero Cloud: A decentralized file storage solution supported by IPFS
- Smart Contracts: Scalable, self-executing, private smart contracts that will soon include added privacy capabilities via Liminal
- Common: A decentralized exchange (DEX) with a trustless universal wallet
- Liminal: A multichain privacy layer usable across all networks that bridge to Aleph Zero
- Future infrastructure use cases
The network is also a bedrock for innovative projects that are leveraging features such as private smart contracts and the speed of the AlephBFT consensus protocol. These include dapps and solutions that are native to the network as well as third-party integrations and ongoing partnerships with development teams, launchpads, and validators.
Aleph Zero Features:
SCALABILITY
Up to 100,000 TPS in a fully decentralized system* *in a test simulation of sample transactions on 112 nodes spread across five continents
PEER-REVIEWED
The Aleph Zero Consensus Protocol has been officially peer-reviewed and accepted for publication in the conference proceedings of Advances in Financial Technology 2019
NEAR-FREE VALUE TRANSFER TRANSACTIONS
On average, a transaction on the network costs 0.0003 AZERO
DECENTRALIZED
While Aleph Zero is DAG-based, it implements a large, rotating, and random committee to achieve decentralization
COMMON WALLET & DECENTRALIZED EXCHANGE (DEX)
Using advanced cryptography, exchange your Bitcoin, Ethereum, and other digital assets on non-custodial peer-to-peer decentralized exchange.
PRIVATE SMART CONTRACTS
Customize functionality for automation and programmable contracts
HUB AND SPOKE MODEL
Sync your application to Aleph Zero’s ledger
FILE STORAGE
Application Programming Interface (API) hooks that allow seamless integration into InterPlanetary Fill System (IPFS) as well as proprietary data solutions.
How Aleph Zero is different from blockchain?
In general, blockchain is a chain of blocks where each block contains the hash of the previous one. A block is a collection of data, and each piece of data is added to the blockchain by connecting one block after another in chronological order. What is important, in what we usually call ‘blockchain protocols,’ only one block at a time can be created globally, which requires a mechanism of assigning block creation tasks to a specific user. No matter what mechanism is utilized, such constraint puts serious limits on the whole protocol throughput.
AlephBFT, as a DAG consensus protocol, allows multiple users to create units/blocks at the same time, and the blocks are subsequently ordered and validated by our novel consensus. Such an approach allows for massive gains in both speed and throughput of the whole platform. What’s worth pointing out, however, is that Aleph Zero is a blockchain, not a DAG — as it only uses a DAG as an intermediary data structure to help facilitate faster time to finality.
How secure is the Aleph Zero technology?
- Aleph Zero ensures ultimate safety with three qualities: being asynchronous, leader-free, and Byzantine Fault Tolerant.
- Asynchronicity : Aleph Zero does not rely on any timing assumptions and ensures that all honest transactions will be confirmed even during times of total asynchrony of the network. The outcome is both DDoS resilience and easy protocol recovery after the network partitions.
- Leader-free (leaderless) : Aleph Zero is decentralized and leaderless. It does not have a single node in control of creating a total ordering of units at any stage of the process. This quality provides not only a greater degree of decentralization than many existing protocols — but also guards against timed DDoS attacks that can be aimed at validators.
- BFT (Byzantine Fault Tolerant) : Aleph Zero can tolerate up to 33% of malicious committee members without an effect on the validation process. Each transaction is confirmed as soon as 67% of the members agree upon it.
How does Aleph Zero plan to solve the Miner Extractable Value (MEV) problem?
- Importantly, while in a ‘classical’ submarine sends users are tasked with sending decrypted transactions after appropriate time has passed, in Liminal that will happen automatically — alongside the initial transaction, user will be obliged to send threshold encryption to specific committee, which in turn will be responsible for decrypting it on time. It is an important update, as in classical scenarios users could not reveal encrypted transactions, hence such systems lack atomicity.
- The idea behind fixing the MEV problem in Aleph Zero has to do with our Liminal MPC framework and the so-called submarine sends. A user would send an encrypted transaction that’s immediately ordered, but is revealed only after some time (as an example, after three blocks have been finalized). As an order in which such a transaction would be ledgered corresponds to the order of their encrypted versions, miners can not influence the ordering for their own benefit — at the time they need to provide an order on transactions, they do not know their content yet.
Community:
Website : alephzero.org
E-mail : hello@alephzero.org
Telegram : https://t.me/AlephZeroFoundation
Facebook : https://www.facebook.com/AlephZeroFoundation/
Twitter : https://twitter.com/Aleph__Zero
Instagram : https://www.instagram.com/alephzerofoundation/
Linkedin : https://www.linkedin.com/company/alephzero
Discord : https://discord.gg/4KAa9H5j2G
Summary
Aleph Zero is one of the fastest, most scalable, and secure blockchains on the market. It offers a novel approach to many problems that we believe haven’t been solved effectively yet.
It can be used as a foundation for new digital economy, bring efficiency to various parts of our lives, and discover completely new ways that businesses, governments, and people communicate and exchange value online. Most importantly, it’s able to act as a hub and spoke, to connect many ledgers, forks, and protocols to operate in one, decentralized ecosystem.
The possibilities are endless.
If you want to discuss more about Aleph Zero or any other blockchain project/ Staking please reach out to us at info@coindelta.io with your queries.
For more info please visit : https://www.coindelta.io/
