What Is Aleph.im (ALEPH)?
ALEPH is the native token of Aleph.im, which is a decentralized cloud computing network. To be more precise, it’s a cross-chain Layer-2 network used for building decentralized applications (dApps). Aleph.im provides dApps with security, storage, and computing services. Make sure to check the Aleph.im price chart above since it displays the current and the past ALEPH price.
Since Aleph.im is a cross-chain network, it’s interoperable with various blockchains including Ethereum, BSC, Solana, and so on. This means that users can develop their dApps on these blockchains.
The uniqueness of Aleph.im comes from the combination of on-chain and off-chain technologies. It provides secure access to trusted off-chain data or computation, while all Aleph.im transactions happen on-chain. Besides, Aleph.im allows users to make delegated transactions, which are managed by the network.
Additionally, the platform offers various other services such as Solana indexing, document certification, website hosting, a document management system, an order book, and much more.
The Founder of Aleph.im
The Aleph.im crypto project was founded by Jonathan Schemoul (also known as Moshe Malawach) in 2018. Prior to founding Aleph.im, he worked at such companies as Turbogears Project, ALD Automotive, PyF Project, NULS Blockchain, and JMSI. He mostly took the role of a developer or a project manager. Besides that, he also founded Paris Envies.
How Does Aleph.im Work?
The Aleph.im network employs a sharding mechanism. With sharding, the main network is divided into smaller chunks called shards. Therefore, network nodes only need to validate a portion of the transactions. Since nodes validate transactions concurrently, this results in increased network throughput, which allows dApps to expand according to the number of users.
All data stored on the Aleph.im crypto project is encrypted. It is kept private unless the owner of the data wishes to disclose it. Besides, the file storage of Aleph.im is compatible with the InterPlanetary File System, which is a P2P distributed file system that uses a structure similar to a blockchain to store and transfer data.
The developers of dApps are provided with an SDK (a software development kit) that is packed with Python and Javascript software libraries, which makes the development process much easier.
Use Cases of ALEPH Tokens
Aleph.im tokens have more than one purpose. Primarily, ALEPH tokens are used as a payment method to cover any purchases made within the Aleph.im ecosystem. Secondly, ALEPH holders can stake their tokens this way securing the network and receiving staking rewards. Lastly, the tokens are rewarded to those who provide cloud storage and, as just mentioned, stake ALEPH tokens.
Besides, don't forget to analyze the Aleph.im price chart to see the patterns of the ALEPH price movements.
Tokenomics of ALEPH
The max supply of ALEPH tokens is 500 million. Though, initially, the total ALEPH supply was 1 billion. However, in July 2020, it was reduced by 50%.
New tokens are created through the process of minting. The very first ALEPH minting took place on the Proof of Credit Mining (POCM) platform, which is a platform that allows projects to issue and distribute their tokens by staking NULS tokens.
If you plan to invest in ALEPH tokens, do keep in mind that the ALEPH price tends to fluctuate. The main reason for that is the volatility of the whole crypto market, which affects the Aleph.im price alongside the prices of other digital assets.
