07 March What is the Azero series?
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Aleph Zero aims to address critical challenges hindering widespread adoption and functionality of blockchain technologies. These known challenges include scalability, security, privacy, and the overall user and developer experience. The Aleph Zero team sees traditional blockchains like Bitcoin and Ethereum facing scalability limitations, with transaction times falling short of global adoption requirements, due to long confirmation periods. The Aleph Zero architecture promises instant finality, scalable consensus and smart contract platforms, and presents itself as a viable infrastructure for decentralized applications.
Aleph Zero says it addresses vulnerabilities in other blockchains with its AlephBFT consensus protocol, which provides robust security by tolerating up to 33% malicious committee members and ensuring network asynchrony. This consensus mechanism, being devoid of a single control node, enhances resilience against Distributed Denial of Service (DDoS) attacks and facilitates seamless protocol recovery for post-network sections, promising a higher degree of security and reliability for its users.
On the privacy front, Aleph Zero offers a cutting-edge approach by incorporating technologies such as Zero-Knowledge Proofs (ZK-SNARKs) and Multi-Party Computing (MPC). This combination allows for private computations on user data and supports private multi-user interactions, enabling applications such as private voting and decentralized finance (DeFi) protocols. These privacy measures aim to restore control over users' personal data, in line with the increasing demands for privacy and data security in the digital age.
The Aleph Zero ecosystem is based on its native token AZERO, which plays a critical role in network security through staking, payment of transaction fees, and governance. The utility of the coin extends across various functions within the Aleph Zero platform, including decentralized exchange fees and collateral for the wrapped assets. Aleph Zero's commitment to environmental friendliness can be seen in its efforts to become a carbon negative blockchain, joining initiatives such as the Crypto Climate Agreement and implementing CO2 offset programs. This environmental awareness, coupled with its technical innovations, positions Aleph Zero as a forward-thinking blockchain solution that aims to redefine the decentralized technologies landscape.
What is the AZERO code?
AZERO token is Aleph Zero's native cryptocurrency. It serves many basic functions that are essential to the operation, security, and utility of the network. AZERO holders can participate in the security of the network by storing their tokens. This process involves locking tokens to support the network's consensus mechanism while receiving staking rewards, which helps maintain its integrity and resilience against attacks.
AZERO is used to pay transaction fees on the Aleph Zero network. This fee compensates 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 (DEXs). This facilitates liquidity and trading of various assets in a decentralized manner.
The platform's multi-chain privacy solution, Liminal, allows for asset wrapping. AZERO acts as collateral for these encapsulated assets, enabling secure and private transactions across different blockchain networks.
AZERO holders can participate in the management of the Aleph Zero network. This includes voting on proposals that shape the network's development, standards and future direction, ensuring a decentralized and community-oriented approach to governance.
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The Aleph Zero blockchain project has structured its token distribution with a strategic allocation to support its development, growth, and community engagement. Of its total token supply, 23% has been allocated to the Aleph Zero Foundation, and 10% to the project team, underscoring the commitment to long-term R&D, commercialization and operational improvements. The enterprise allocation is primarily aimed at strengthening the ecosystem through the Ecosystem Fund, with great emphasis on promoting innovation and ensuring strong operational capacity. Future phases of the project's development will see the community gain voting rights on non-core treasury expenditures, representing a step towards greater decentralization and community participation.
For the team, a cautious approach to token issuance was adopted, with 80% of their tokens locked for a 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 where tokens were issued at $0.04 each, according to the Simple Agreement for Future Tokens (SAFT) model. This round saw 16.667% of the tokens distributed, with half becoming available in a token generation event (TGE) and the rest acquired over a 15-month period.
Subsequent funding rounds, including the seed round and the private early community round, offered tokens at progressively higher prices, with different vesting terms to balance immediate liquidity and long-term stakeholder commitment. The sell and public sale phases expanded the token's distribution, culminating in a public sale at $0.10 per coin, a significant increase from the initial pre-seed price. All tokens were made available from the public sale at TGE, providing liquidity and incentive for new participants in the Aleph Zero ecosystem.
How to buy AZERO with cryptocurrencies
1. Log in to your Bitfinex account or register to create an account.
2. Go to the deposit page.
3. In the Cryptocurrencies section, choose the cryptocurrency you plan to buy AZERO with and create an Exchange wallet deposit address.
4. Send the crypto to the generated deposit address.
5. Once the funds arrive in your wallet, you can exchange them for AZERO. Learn how to trade on Bitfinex here.
How to buy AZERO with fiat currency
1. Log in to your Bitfinex account or register to create an account.
2. You need to get full verification to be able to deposit fiat currencies into your Bitfinex account. Learn about the different verification levels here.
3. On the Deposit page, under the Bank Wire menu, choose the fiat currency for your deposit. There are minimum fiat deposits on Bitfinex; Learn more here.
4. Check your registered Bitfinex email to get the transfer details.
5. Send money.
6. Once the funds arrive in your wallet, you can use them to buy AZERO.
We also have Bitfinex on mobile, so you can easily buy AZERO on the go.
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