Orbit

Arbitrum

Aleph Zero

Zero

Aleph Zero, a blockchain ecosystem geared toward privacy and efficiency, has launched its new Ethereum-compatible layer-2 solution on its mainnet.
The development aims to utilize the blockchain’s Substrate-based WASM layer 1 as its Data Availability Layer and to integrate with zero-knowledge operating system (zkOS) privacy tools.
A press release shared with Cointelegraph states that the new Ethereum Virtual Machine (EVM) layer will facilitate faster transactions to drop block times to 250 milliseconds.
<blockquote data-ct-non-breakable="true">
 “AZERO, the ecosystem token, will be used on the Layer-2 to power all gas transactions similarly to how it’s being used now on the Layer-1.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/aleph-zero-launches-50m-ecosystem-funding-program" rel="noopener noreferrer nofollow">Aleph Zero launches $50M ecosystem funding program</a>
<h2 id="mainnet-features-and-implications">Mainnet features and implications</h2>
According to the press release, the Aleph Zero EVM L2 is built collaboratively with the rollup-as-a-service (RaaS) provider Gelato and uses Arbitrum Orbit technology.
Designed to accommodate Ethereum-compatible application development, the new mainnet will reportedly provide users with an “exceptionally fast and efficient blockchain.”
The network plans to introduce the zkOS privacy toolkit in Q4 to reduce ZK proving time and to integrate privacy features into blockchain applications.
Related: <a href="https://cointelegraph.com/news/privacy-tokens-under-attack-aleph-zero" rel="noopener noreferrer nofollow">Are privacy tokens under attack? Aleph Zero co-founder explains</a>
<h2 id="aleph-zero-50-million-funding-program">Aleph Zero $50 million funding program</h2>
On April 18, Aleph Zero announced the launch of a <a href="https://cointelegraph.com/news/aleph-zero-launches-50m-ecosystem-funding-program" rel="noopener noreferrer nofollow">$50 million funding program to support developer teams</a> that want to build on its platform and boost global blockchain adoption.
The nonprofit Aleph Zero Foundation oversees the $50 million Aleph Zero Ecosystem Funding Program, which aims to attract developers with support beyond grants.
In an interview with Cointelegraph, Antoni Zolciak, co-founder of Aleph Zero, explained that the program aims to “fund innovations from developer teams.”
Related: <a href="https://cointelegraph.com/news/researchers-identify-key-circuit-layer-vulnerabilities-snark-systems" rel="noopener noreferrer nofollow">Researchers identify key circuit layer vulnerabilities in SNARK systems</a>
<h2 id="are-privacy-tokens-under-attack">Are privacy tokens under attack?</h2>
On Feb. 29, Zolciak also spoke on episode 49 of Cointelegraph’s Hashing it Out podcast, discussing the future of privacy in crypto and its implications for service users.
Zolciak explained that privacy had lost significance since <a href="https://cointelegraph.com/news/privacy-tokens-under-attack-aleph-zero" rel="noopener noreferrer nofollow">users became satisfied with exchanging privacy preservation</a> for free service access.
He elaborated that since most users don’t understand privacy in Web3, most also don’t recognize the split between privacy tokens and privacy-enhancing blockchain infrastructure.
Magazine: <a href="https://cointelegraph.com/magazine/china-crypto-ban-investors/" rel="noopener noreferrer nofollow">How Chinese traders and miners get around China’s crypto ban</a>

Aleph Zero launches zkOS-powered Ethereum layer 2 mainnet

Table of Contents

Cointelegraph

Other articles published on Aug 12, 2024

Cryptocurrency Uniswap's Price Increased More Than 3% Within 24 hours

Ronin expands lead as top chain for Web3 gaming

Cardano Is Heading To $5 Soon – Crypto Analyst

IKO Spotlight July 2024

Uniswap Foundation Reports $36.81M in Reserves and $3.22M in New Grants for Q2

Ripple Price Predictions: Is XRP on the Verge of a Massive Move?

Join our free newsletter for daily crypto updates!