What is Aleo (ALEO)?
Aleo is a layer-1 blockchain for private applications whose mainnet went live in September 2024, putting the ideas of the Zexe research paper into production. Its node software is developed by Provable together with the Aleo Network Foundation.
- Type
- Privacy-focused layer-1 blockchain
- Launched
- 2024
- Consensus
- AleoBFT (Proof of Stake) with a proof-of-succinct-work puzzle
- Max supply
- No fixed cap (1.5 billion at launch)
- Swap network
- Aleo
How Aleo works
Applications, usually written in the Leo language, compile to circuits so that transactions carry zero-knowledge proofs, letting the network verify them without seeing private inputs. Validators stake ALEO and agree on blocks with AleoBFT, a proof-of-stake protocol based on Narwhal and Bullshark, while provers earn rewards for solving a proof-of-succinct-work puzzle. Since July 2025 provers must also stake ALEO for each solution they submit.
What ALEO is used for
ALEO pays network fees and is staked with validators for rewards. It can be held as a public balance or as encrypted private records, and the network also hosts private stablecoins such as USDCx and USAD.
ALEO supply
Aleo launched with 1.5 billion tokens and has no hard cap. New ALEO is minted every block to reward validators, stakers and provers, and the launch plan projected supply passing 2.6 billion within ten years as yearly emissions decline.
Before you swap ALEO
Aleo addresses start with aleo1 and are 63 characters long. Because ALEO can sit in a public balance or in private records, wallets may show the two separately, so if a transfer does not appear, check both. Keep a little ALEO for fees unless your wallet covers them.