Using a privacy-focused technology Blockchain project Aleo managed to receive an investment of 200 million dollars in the financing round.
Tiger Global, Andreessen Horowitz (a16z), Samsung Next, Slow Ventures and Sea Capital also participated in the financing round led by SoftBank Vision Fund 2 and Kora Management.
In the details of the agreement, it was also stated that SoftBank and Kora will each have a quota on the board of directors of Aleo Blockchain. However, Howard Wu, CEO and CTO of Aleo, stated that no specific manager has been appointed to these vacancies yet.
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In his statement, Wu said that the funding round is an equity financing and will help Aleo become a company that provides services on the Blockchain network. Wu used the following statements on the subject:
In fact, a similar situation exists between Git and Github. Git is an open-source protocol used by millions of developers around the world, while Github has built a lucrative and sustainable business by offering a suite of products that deliver greater benefits for the end user.”
While the Aleo Blockchain network is still working on the testnet, it has been learned that the mainnet (mainnet) will be implemented in the third quarter of this year.
Wu was asked how the Blockchain they created differs from other Blockchains using zero-knowledge-proof technology, and other networks use this technology more. Ethereum’s He replied by saying that he used it to find a solution to the scalability problem:
With Aleo, we have developed a layer-1 blockchain that is vastly better in both scalability and privacy.”