Latest on Aleo
I want to tell you about the latest activities in Aleo. Aleo is a super cool project with a top fund on board. So now the testnet is running.
Here is a brief description of the testnet, don't miss it. For ordinary mortals, all activities will be in September. so, let's begin
What is AleoBFT?
AleoBFT combines the instant finality of new blocks from validators with the computational power of validators to inject coinbase supply into the network. The AleoBFT design incentivizes validators to stay alive by building blocks, and validators to extend the validation options for the Aleo ecosystem. In essence, this is a hybrid Proof-of-Stake / Proof-of-Work architecture, which is the “best of both worlds” solution.
What are the benefits of AleoBFT?
* Transactions are confirmed after validators create and reach consensus for each block. This approach solves the problems of shallow forking for validators and improves node stability. In addition, it ensures that Aleo developer applications run smoothly. And for users, it improves the user experience, allowing for quick verification across wallets, browsers, search engines, and apps. Finally, this guarantee greatly simplifies interaction with other ecosystems.
2. AleoBFT ensures that the network remains fairly decentralized.
• As Testnet 2 showed, block production became highly centralized after a small number of verifiers developed specialized hardware for zero-knowledge cryptography. While ZPrize helps level the playing field, the fact remains that a handful of organizations will dominate the network, risking centralization and censorship for users.
3. AleoBFT incentivizes reviewers to increase the evidential capacity of the Aleo ecosystem over time.
• In AleoBFT, verifiers decide and create coinbase proofs (PoSW) on the network in exchange for a share of the coinbase reward in each block. With this new model, verifiers now calculate the main sub-components of zero-knowledge proofs, namely multiscalar multiplications (MSMS) and fast Fourier transforms (FFTs), while earning their percentage share of the proofs from the block reward.
🪙 TESTNET - 3 FEATURES
Here is a preview of some of the new features coming to Aleo Testnet3
• Deploy and run programs on the Aleo Virtual Machine (AVM)
• Verify coinbase puzzles (PoSW) for new credits
• Verify blocks and generate coinbase proofs with AleoBFT
• Verify batch with of our Marlin + Plookup proof system
• Multi-signature wallet support using FROST threshold signatures
🪙 TESTNET3 INCENTIVES
We are giving away 25 million Aleo credits to developers, hackers, reviewers and validators during Testnet3.
Developers:
May be rewarded for writing, deploying, and running programs.
Hackers:
You can earn rewards by spotting bugs in our protocol.
Verifiers:
Can generate PoSW proofs and earn coinbase rewards.
Validators:
Can participate in block production and consensus within AleoBFT and receive rewards from the protocol
News on Ambassadorship Program
On September 20th 2022, a form for ambassadors will open do not miss the opportunity and be active
What we do
* We communicate and help in the general chat (do not talk about the weather).
* Host an offline event. It is not necessary to make a large-scale event, you can call all your friends and that will be enough.
* Come up with unique content.
* Also participate in competitions and quizzes.
Go ahead, don't miss the opportunity to fly into the Aleo discord