March 7 What is Aleph Zero (AZERO) Chain?
Aleph Zero aims to address critical challenges hindering the widespread adoption and functionality of blockchain technologies. These well-known challenges include scalability, security, privacy, and overall user and developer experience. The Aleph Zero team believes that traditional blockchains like Bitcoin and Ethereum face scalability limits, with transaction times below the requirements for global adoption, due to long confirmation times. Aleph Zero's architecture promises instant finality, scalable consensus and smart contract platforms, and presents itself as a viable infrastructure for decentralized applications.
Aleph Zero claims to address security vulnerabilities in other blockchains with its AlephBFT consensus protocol, which provides robust security by tolerating up to 33% of malicious attacks. the members of the committee and ensure network continuity asynchronicity. This consensus mechanism, because it lacks a single control node, improves resilience against distributed denial of service (DDoS) attacks and facilitates smooth protocol recovery after network partitions, thus promising a greater degree high level of security and reliability for its users.
On the privacy front, Aleph Zero introduces a sophisticated approach by integrating technologies such as Zero-Knowledge Proofs (ZK-SNARK) and Multi-Party Computation (MPC). This combination enables private computations on user data and supports private multi-user interactions, enabling applications such as private voting and decentralized finance (DeFi) protocols. Such privacy measures aim to put users back in control of personal data, in line with the increasing demands for data privacy and security in the digital age.
The Aleph Zero ecosystem is built on its native coin AZERO, which plays a crucial role in network security through staking, payment of transaction fees, and governance. The coin's utility extends to various features of the Aleph Zero platform, including decentralized exchange fees and collateral for wrapped assets. Aleph Zero's commitment to environmental friendliness is reflected in its efforts to become a carbon negative blockchain, joining initiatives such as the Crypto Climate Accord and undertaking CO2 offset programs. This environmental awareness, coupled with its technical innovations, positions Aleph Zero as a forward-thinking blockchain solution aimed at redefining the landscape of decentralized technologies.
What is the AZERO token?
The AZERO token is the native cryptocurrency of Aleph Zero. It performs several key functions essential to the operation, security and utility of the network. AZERO holders can participate in the security of the network by staking their tokens. This process involves locking tokens to support the network's consensus mechanism while earning staking rewards, thereby helping to maintain its integrity and resilience against attacks.
AZERO is used to pay transaction fees on the Aleph Zero network. These fees pay validators for processing transactions and securing the network, ensuring efficient operation and scalability.
Within the Aleph Zero ecosystem, AZERO tokens can be used to pay swap fees on decentralized exchanges (DEX). This facilitates liquidity and trading of various assets in a decentralized manner.
The platform's multi-chain privacy solution, Liminal, allows the grouping of assets. AZERO serves as collateral for these wrapped assets, enabling secure and private transactions across different blockchain networks.
AZERO holders can participate in the governance of the Aleph Zero network. This includes voting on proposals that shape the development, parameters and future direction of the network, ensuring a decentralized and community-based approach to governance.
AZERO Tokenomics
The Aleph Zero blockchain project has structured its token distribution with strategic allocation to support its development, growth, and community engagement. Of its total token supply, 23% is dedicated to the Aleph Zero Foundation and 10% to the project team, highlighting the commitment to long-term research, development, marketing and operational improvements. The Foundation's allocation is primarily aimed at strengthening the ecosystem through an Ecosystem Fund, with a focus on promoting innovation and ensuring strong operational capacity. Future phases of the project's development will see the community gain the right to vote on non-essential spending from the treasury, marking a step towards greater decentralization and community involvement.
On the team's side, a cautious approach to token release is taken, with 80% of their tokens locked for one year, followed by a four-year vesting period. This method reflects a commitment to the longevity and success of the project. Funding rounds have played a crucial role in Aleph Zero's journey, starting with a pre-seed round in 2018 in which tokens were issued at $0.04 each, under a Simple Agreement (SAFT) model. for Future Tokens). This cycle saw 16.667% of coins distributed, with half becoming available during the Token Generation Event (TGE) and the remainder vesting over 15 months.
Subsequent funding rounds, including a seed round and a special Early Community round, offered tokens at progressively higher prices, with varying vesting terms to balance immediate liquidity with long-term commitment of the stakeholders. The presale and public sale phases further expanded token distribution, culminating in a public sale priced at $0.10 per coin, a significant increase from the initial pre-seed price. All tokens from the public sale have been made available at TGE, providing both liquidity and incentive to new participants in the Aleph Zero ecosystem.
How to buy AZERO with cryptocurrencies
1. To log in on your Bitfinex account or register to create one.
2. Access the Deposit page.
3. In the Cryptocurrencies section, choose the crypto you plan to buy AZERO with and generate a deposit address on the Exchange wallet.
4. Send the crypto to the generated deposit address.
5. Once the funds arrive in your wallet, you can exchange them for AZERO. Learn to trade on Bitfinex here.
How to buy AZERO with Fiat
1. To log in on your Bitfinex account or register to create one.
2. You must obtain full verification to be able to deposit fiat into your Bitfinex account. Discover the different verification levels here.
3. On the Deposit page, in the Bank transfer menu, choose the fiat currency of your deposit. There is a minimum amount for escrow deposits on Bitfinex; learn more here.
4. Check your Bitfinex registered email address for transfer details.
5. Send the funds.
6. Once the funds arrive in your wallet, you can use them to purchase AZERO.
We also have Bitfinex on mobile, so you can easily buy AZERO currency on the go.
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