Aleph Zero, a blockchain startup, has launched its Ethereum-compatible layer-2 solution. The move aims to boost privacy and speed in blockchain transactions.
The new layer integrates Arbitrum Orbit technology. It also uses zero-knowledge operating system (zkOS) tools.
Aleph Zero's layer 2 will run on top of its existing blockchain. This setup should cut block times to a mere 250 milliseconds.
"AZERO, the ecosystem token, will be used on the Layer-2 to power all gas transactions," the company said in a statement.
The project is a team effort with Gelato, a rollup-as-a-service provider. It's designed to make Ethereum app development easier.
Aleph Zero plans to roll out its zkOS privacy toolkit in Q4. This should speed up zero-knowledge proofs and beef up privacy features.
In a parallel move, the firm announced a $50 million funding program. It's meant to attract developers to build on the platform.
Antoni Zolciak, Aleph Zero's co-founder, told Cointelegraph the program aims to "fund innovations from developer teams." The cash isn't just grants, but wider support.
Zolciak also dished on privacy in crypto. He reckons most users don't get Web3 privacy. They're cool with trading privacy for free stuff.
"There's a split between privacy tokens and privacy-enhancing blockchain infrastructure," Zolciak explained. "Most folks don't see the difference."