Aleo (ALEO) Price, Charts & Market Data

Aleo is primarily used for building and running private, scalable applications on a blockchain. Its zero-knowledge proof technology allows users to execute transactions without disclosing sensitive information. This is particularly useful for applications in sectors like finance, identity management, and data privacy.

The Aleo Token (also referred to as Aleo Credits) plays a crucial role in the network by allowing users to access computational resources, pay transaction fees, and reward validators and provers who secure the network. Validators use Proof-of-Stake (PoS) and AleoBFT consensus mechanisms to validate transactions, while provers solve computational puzzles to generate proofs.

Aleo also enables users to stake their tokens with validators to earn network rewards, participate in governance, and vote on proposed upgrades​.

Aleo was founded by Alex Pruden, the Executive Director of the Aleo Network Foundation. Pruden has a background in blockchain and cryptocurrencies, previously serving as an investment partner at Andreessen Horowitz, focusing on crypto investments. He also has a military background, having served as a Special Forces officer in the U.S. Army​.

The Aleo project involves a broader community of developers and privacy advocates committed to creating a more secure, private web through blockchain technology.