Aleph Zero, a blockchain ecosystem focused on privacy and efficiency, has launched its new layer-2 solution compatible with Ethereum on its mainnet. This development leverages Aleph Zero’s Substrate-based WASM layer 1 as the Data Availability Layer and incorporates zero-knowledge operating system (zkOS) privacy tools.
According to a press release shared with Cointelegraph, the new Ethereum Virtual Machine (EVM) layer is designed to accelerate transactions, reducing block times to just 250 milliseconds. The ecosystem token, AZERO, will be used to facilitate gas transactions on this Layer-2 network, mirroring its current use on Layer-1.
Mainnet Features and Future Plans
The Aleph Zero EVM Layer-2 has been developed in collaboration with Gelato, a rollup-as-a-service (RaaS) provider, and utilizes Arbitrum Orbit technology. This new mainnet aims to support Ethereum-compatible application development and promises to deliver a highly efficient blockchain experience.
Plans are in place to introduce the zkOS privacy toolkit in Q4, which will aim to enhance zero-knowledge proof times and integrate advanced privacy features into blockchain applications.
Aleph Zero’s $50 Million Funding Initiative
On April 18, Aleph Zero unveiled a $50 million funding program to support developers building on its platform and promote global blockchain adoption. The initiative, managed by the Aleph Zero Foundation, provides more than just grants, aiming to attract developers with comprehensive support.
Antoni Zolciak, co-founder of Aleph Zero, highlighted in an interview with Cointelegraph that the funding program is intended to “support innovations from developer teams”.
Read more: Argo Blockchain Settles $35 Million Debt with Galaxy Digital
Privacy Tokens and Future Perspectives
In a discussion on Cointelegraph hashing it Out podcast on February 29, Zolciak shared insights into the evolving role of privacy in cryptocurrency and its implications for users. He noted that as users have increasingly traded privacy for free services, the importance of privacy has diminished. Zolciak emphasized the gap in understanding between privacy tokens and privacy-enhancing blockchain infrastructure in the Web3 space.
Cre: cointelegraph
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
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