Aleph Zero - The next big thing?
There rarely comes a time when a new upcoming project gets me as excited as this one. What I mean by this is a project where there is true innovation and has the potential to be a future bluechip within the crypto-sphere. This such project is called Aleph Zero (token $AZERO).
Overview
In simple terms, AZ can be described as a ‘Public blockchain with private smart contracts’. One of the big challenges blockchain technology faces as an industry is generating enterprise adoption with sufficient security measures in place. Aleph Zero is solving that problem with a very methodical approach.
With a wide-range of potential applications, Aleph Zero can operate as a public ledger as well as a private, connected to the public ledger. This allows enterprises to build decentralized projects that benefit from the speed and security of a public DLT platform while still being able to preserve the privacy of their transactions.
The core of Aleph Zero is a new algorithm built using the technology of a Directed Acyclic Graph (DAG) to create an efficient and decentralized system. It exceeds industry competition by using a practical approach to the transfer of value and the extensibility of smart contracts. Regardless of the number of other transactions, the validation times are always fast. Aleph Zero is what decentralized technology should look like at the protocol level.
(Aleph Zero’s peer-reviewed consensus protocol (AlephBFT) achieved 89,600 tx/s with a 416 ms confirmation time in a decentralized test setting of 112 AWS nodes spread across five continents.)
Essentially, the team state that AZ has been developed to solve the ‘Blockchain Trilemma’ (security, scalability, and decentralisation). Therefore the goal of Aleph Zero is to make it possible for SMBs and enterprise to communicate at a rate close to what they would expect with regular internet communication while still utilising the benefits of decentralisation.
Core Features
> SCALABILITY
100,000 TPS in a fully decentralized system
> PEER-REVIEWED
The Aleph Zero Consensus Protocol has been officially peer-reviewed and accepted for publication in the conference proceedings of Advances in Financial Technology 2019
> NEAR-FREE VALUE TRANSFER TRANSACTIONS
Simple value transfers are as close to being free as possible
> DECENTRALIZED
While Aleph Zero is DAG-based, it implements a large, rotating, and random committee to achieve proper decentralisation
> COMMON WALLET & DECENTRALIZED EXCHANGE (DEX)
Using advanced cryptography, exchange you Bitcoin, Ethereum, and other digital assets on non-custodial peer-to-peer decentralized exchange
> PRIVATE SMART CONTRACTS
Customise functionality for automation and programmable contracts
> HUB AND SPOKE MODEL
Sync your application to Aleph Zero’s ledger
> FILE STORAGE
Application Programming Interface (API) hooks that allow seamless integration into InterPlanetary Fill System (IPFS) as well as proprietary data solutions.
Building a Multi-chain World
Aleph Zero will also be capable of synchronising with other blockchains and running smart contracts—and its privacy framework can be used on all the major chains. Moreover, the team is working on a truly trustless universal wallet called Common.
Tokenomics
Hard Cap: $14,850,000
Initial Circulating Supply: 180,000,000
Initial Market Cap: $18,000,000
Total Supply: 300,000,000
Fully Diluted Market Cap:Â $30,000,000 (at $0.10)
33% (100,000,000) of the tokens were sold at the recent Public sale offering at a price of $0.10. With early bird community members having a maximum allocation of $400 (4000 tokens) and general public with a max allocation of $370 (3700 tokens).
Team
Based in Zug, Switzerland (Crypto Valley), the Foundation comprises of approximately 20 team members. Many of whom have brilliant academic success stories.
Matthew Niemerg (CEO) is a Simons-Berkeley Fellow, and an IBM Center of Excellence Fellow in High Performance Computing with comprehensive DLT experience. The research and development team behind the technology is Cardinal Cryptography–based in Krakow, Poland.
AZ recently announced that Michael Guzik has joined them as an advisor. Guzik initiated, built up, and headed Pricewaterhouse Coopers (PwC) blockchain practice in Switzerland for over three years. Afterward, he joined Lykke as a Primary Markets Lead where he pioneered security token and utility token concepts. He also served as a partner with Blockchain Valley Ventures in order to build a new regulated primary and secondary market using smart contracts.
My View
In essence, Aleph Zero is a comprehensive blockchain project comprising of multiple elements, making it one of the most ambitious projects in crypto. With their DAG protocol (Consensus), Oracle, Cloud decentralized file storage (IFPS), scalable & private smart contracts, decentralized exchange and dark pools coupled with a universal trust-less wallet (Common), they have all the making of a future bluechip. On top of all that, Aleph Zero ecosystem will also synchronise with other blockchain protocols (e.g. wrapped assets, bridge).
Now, lets talk about potential market cap and the potential gains thus associated;
I compare Aleph Zero to another layer-1 that only released a couple of months ago - Mina Protocol. (The reason being -it too is building something unique with great backers and a good team.) Mina is currently valued at $4.63 holding a market cap of $1.19bn. AZ will have a starting mcap of $18m with a price of $0.10. If we place AZ at the same level as MINA, it would be a 66x from the starting market cap. Giving a token value of $6.60.
I believe this valuation could be reached within the next 6 months, given that the market continues bullish.