Aleo Establishes Aleo Foundation to Drive Innovation in Zero-Knowledge Cryptography
In Brief
Aleo established the Aleo Foundation to focus on open-source governance, developer participation and promotion of ZK cryptography.
Programmable privacy network Aleo announced the establishment of the Aleo Foundation to provide guidance and support for the Aleo network. The foundation will focus on open-source governance, developer participation and the promotion of zero-knowledge (ZK) cryptography.
Key initiatives under the Aleo Foundation include a developer education, grants program and product incubation. It aims to launch a comprehensive program to educate developers on Leo, enabling them to build new applications using zero-knowledge cryptography.
The developer education initiative’s ultimate goal is to encourage developers to write ZK programs on Leo and deploy them on Aleo. The Developer Grants Program, with an initial allocation of 150 million tokens will support innovative projects.
Additionally, the foundation plans to develop in-house products serving as blueprints for the community, with the potential for future spin-offs that enrich the Aleo ecosystem.
Governance of the Aleo protocol is another core focus for the Aleo Foundation, aiming to facilitate discussions within the broader open-source ecosystem, engaging internal technical experts and external community advisors.
“Together, we’re not just building technology — we’re rebooting the internet to create a future where the connection between digital and physical identity is seamless and protected, where sending money globally is as effortless as sending an email, and where privacy and security don’t have to be in tension with personalized web experiences.”
said Alex Pruden, Chief Executive Officer at Aleo.
Aleo, as a permissionless, programmable and privacy-preserving network in Web3, covers application categories such as digital identity, decentralized finance and privacy-preserving machine learning.
Aleo’s Latest Advancements for Web3 Innovation
In a recent update, Aleo blockchain incorporated zPass, a ZK protocol designed for identity verification. This protocol enables users to upload identity documents offline to privacy servers and share anonymous “proofs” with organizations.
Consequently, these relieves companies to store this data themselves. Users can independently generate proofs, allowing them to precisely control which information they share and the extent of personal data disclosure.
Earlier this year, Bitmain, a manufacturer of Bitcoin mining rigs, announced plans to introduce a new line of mining machines tailored specifically for Aleo. This development enables users to mine Aleo coins, contributing to the network’s security and growth. The anticipated outcome is a more resilient and environmentally friendly proof-of-work network.
The establishment of the Aleo Foundation, reflects Aleo’s commitment to fostering a robust, privacy-preserving Web3 network.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
