Alephium closes $3.6M pre-sale, launches mainnet two months later

By: Daniela Kirova
Daniela Kirova
Daniela has been writing translating cryptocurrency and investment content for more than 15 years. Her experience includes ghostwriting portions… read more.
on Nov 9, 2021
  • Mainnet boasts an impressive number of blockchain innovations
  • Alephium blockchain is based on stateful UTXO transactions
  • User-friendliness of Alephium is ensured by native single-step cross-shard transactions

Alephium, the first operational sharded blockchain bringing scalability, improved energy efficiency, and ETH-inspired smart contracts to Bitcoin’s (BTC/USD) proven core technologies, launched its mainnet just two months after announcing the closing of $3.6M pre-sale, Invezz learned from a press release.

Cheng Wang, Core Developer of Alephium said:

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

After over 3 years of development under the radar, we are proud to announce the launch of the Alephium Mainnet. It’s made to support powerful, scalable yet user-friendly decentralized applications and protocols. We welcome the community of developers and miners to join us in improving the ecosystem one project at a time.

About the mainnet, Cheng Wang added:

Alephium offers a whole new programming paradigm for decentralized applications, ideally suited for performance-oriented and secure DeFI. Leveraging Alephium’s custom virtual machine, DApps can now benefit from the security offered by the stateful UTXO model without sacrificing the power and expressiveness of smart contracts.

Powered by unique sharding architecture

The mainnet boasts an impressive number of blockchain innovations. Powered by the unique BlockFlow sharding architecture, the Alephium blockchain is based on stateful UTXO transactions. User-friendliness of Alephium is ensured by native single-step cross-shard transactions as a single-chain blockchain with balancing the transaction load.

‘Proof of Less Work’ consensus algorithm

The platform’s consensus algorithm, referred to as ‘Proof of Less Work’, is a clever combination of token economics and physical work. In comparison to standard PoW protocols, it ensures a reduced energy footprint.

Combining the pluses of UTXO and account models

Perhaps the biggest plus of the algorithm is its stateful UTXO model, combining the advantages of the account model and the UTXO model. It enables trustless P2P smart contracts by making it possible to group multiple participants and calls in a single smart contract transaction.

A cutting edge solution to critical issues with decentralized apps  

The innovative virtual machine is a cutting edge solution to a large number of critical issues dApps platforms currently face. Moreover, its additional elements improve performance and protect from security attacks.

Alephium not only ensures improved energy efficiency and better performance, but also focuses on accessibility and usability. It’s the perfect platform to support open protocols and dApps.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,
75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.