-
Relevant use case with high benefit potential
-
Low token supply with the majority of tokens still locked
-
Skillful team with a proven track record of success
Market Data
Price BTC
0.000005
Price USD
0.106386
ATH BTC
0.000057
ATH USD
0.817198
Down % ATH BTC
-91.12
Down % ATH USD
-86.99
Market Cap BTC
1,262
Market Cap USD
26,300,908
Volume 24h BTC
5.841
Volume 24h USD
121,752
Circulating Supply
247,220,482
Total Supply
500,000,000
Launch Date
2019-01-01
Website
Social Analytics Powered by 
Altrank™
930
/ 3,954
24 hour change
Lower ranks are better
Avg. Social Sentiment 24h
56% Bullish
9.9%
51% prev. 24h
Social Dominance 24h
0.001%
330.8%
0% prev. 24h
Social Engagement 24h
9,578
56241.2%
17 prev. 24h
Social Volume 24h
26
333.3%
6 prev. 24h
Social Contributors 24h
2
0.0%
2 prev. 24h
News Volume 24h
0 Articles
NaN%
0 prev. 24h
Project Highlights
Unique use case and project positioning
Team comes from the background of the blockchain space
Strong token economics
High market potential
Bring scalability and interoperability to the dApp ecosystem
S.W.O.T Analysis
Strength
Weaknesses
-
Still in an early stage.
-
Self-funded with no major investors backing it up
Opportunities
- The relevant problem it aims to tackle might bring its position similar to ChainLink which brings additional layer to the existing infrastructure.
Threats
-
High competition in this space although the project has a unique outlook it is very unknown.
-
Adoption depends on the fact the dApps owners need to recognize the importance of integration.
Technical Analysis
Read the full analysis here.
What is Aleph.im
The current problem with decentralized applications is that they are slow, can’t handle many users, and can be costly in fees for their usage. Besides, they are more or less blockchain specific, and users need to understand and work with those technologies to participate on the decentralized platform. This limits the possibility of global adoption as it creates a lot of friction for the end-user.
This is the problem aleph.im aims at solving by positioning itself as the layer 2 blockchain solution for decentralized application that works cross-chain and provides the infrastructure for storages/databases and computing to ensure users have a fast, free, and simple experience with using dApps.
The data needed as an example for a social media app couldn’t possibly be run on the blockchain as we know it. To include that data into a block would be very costly; it wouldn’t be feasible for the user and disincentivize users to be active. Also, the data throughput would depend on the block time and so on.
Aleph.im provides the solution for decentralized applications to be faster, safer, more cost-effective, and scalable. It acts as the layer on top of the immutable record with whom the user first interacts and that signs messages to the blockchain on their behalf.
Designed in this way eliminates delays, costs, and onboarding friction while keeping the immutability and decentralization of those dApps.
Technology
Aleph.im network works as the second layer on top of the Ethereum blockchain, primarily for storing data and can work cross-chain. It isn’t a blockchain itself, but it is a peer-to-peer network of system nodes whose core job is to receive in sign messages onto the blockchain base layer - this also has a lot to do with security.
It works as a gatekeeper between the user to whom it provides fast and free service for using the decentralized application. At the same time, it inputs only the necessarily immutable data on the blockchain on his behalf. In other words, the network nodes are providing computing power and storage and pay for the blockchain fees. Still, they are rewarded and incentivized to earn ALEPH tokens as a reward for contributing to the network scalability and security.
It’s compatible with the InterPlanetary File System protocol, a peer-to-peer network for storing and sharing data in a distributed file system. Hence, it works as a cloud for computing and storing data across the network.
In order to achieve scalability, it works similarly to sharding in the sense that not all nodes have to keep all the data the user needs but only keep relevant data to the user on the node with whom the user is interacting.
Data storage works combining on and off-chain. The hashes of the data are stored on-chain while the data is stored encrypted by the respective blockchains hashing method or not on IPFS.
Posting is done via API by the dApps to an API node or by IPFS directly if available on the browser. The current state is stored on both blockchain, and currently, received data is queued in the mempool.
Once the data signature is verified and broadcast to at least 2 nodes, it is considered validated and included in the coming blocks.
Target Audience
As a cross-chain solution for decentralized applications for storing, exchanging, and computing data, aleph.im is primarily targeting decentralized applications and blockchain-based projects that are oriented towards usage.
The next category is blockchain platforms themselves, as they can increase their capabilities by adding this additional layer.
Some strategic partnerships have been made, and the integrations have already begun, from which we can have a better understanding of how aleph.im aims at positioning itself.
Jarvis uses the aleph.im layer for their Margineum product, which is a margin trading protocol for DeFi. The next major partnership/integration is for Decentralized derivatives exchange Serum for trustless cross-chain trading. Synaps is a KYC provider and using aleph.im, they can achieve a scalable decentralized identity system for the network. The main USP of the aleph.im technology is for providing storage, and this is now utilized on the Request Network, where a bridge has been created between the Aleph.im and Request dedicated IPFS network and the public IPFS network, helping to store invoicing and transaction data as a backup on their infrastructure, which adds more resiliency and decentralization to the Request network.
Product
Aleph.im network has a very distinctive design and is built in a way to ensure the enhanced user experience when interacting with decentralized applications. It upgrades the existing infrastructure on its own to bring the best of both worlds.
DID Framework
A single ID, controlled from a single wallet, to read & write data to any of the supported chains.Plug & Play SDK
Build with ease with our javascript and python client libraries.IPFS Compatible
Aleph.im file storage supports IPFS.GDPR Compliant
“Forget” feature not yet available and users will be able to selectively store data in nodes located in the EU.Seamless dApps
Web2-like UX with Web3 infra. The network features zero transaction fees and transaction speeds of 50-100ms.
Use case
The primary use case for Aleph.im is to be integrated into the existing ecosystem of vast decentralized applications as it brings storage, databases and computational capabilities with the integration. This opens almost unlimited use case possibilities and can be used in more or less every project and platform to enhance the user experience. It creates frictionless access for the user without having to pay blockchain fees for the used dApp, and because of its cross-chain capabilities, it can serve as a bridge between dApps.
Some of the immediate use cases that come to mind are those associated with cloud computing, data storage, identity verification, IoT, social media, and so on. It can be integrated into every platform where there is metadata like DEX order book, NFTs, KYC, web hosting, file management, and document certification.
It could be potentially viewed as the AWS (Amazon Web Service) or Firebase Google for blockchain and cryptocurrency projects but in a trustless and decentralized way, which is why it enhances decentralization in a way that dApps don’t have to use centralized servers and databases in their operations.
The architecture of the ongoing transition from partially to fully decentralized NFTs on aleph.im
Is there a MVP?
Aleph.im has developed some of its decentralized applications to demonstrate its capabilities. While they aren't significantly used and primarily testnet, they show how the project aims to implement its solution to the broader space.
Currently, there are two main demonstrative decentralized applications regarding their primary use case, while the other two are significant as well. First, MyAleph - it's a decentralized storage solution that enables users to upload files on the IPFS network. Second is the Aleph.im Blogs which demonstrates how implementing aleph.im for social media would look.
Other significant dApps are Starname.me - a decentralized usernames platform and Token Swap dApp on the Cosmos Network. Starname.me is using aleph.im to store its user base metadata. Head over to the explorer here and choose IOV from the dropdown to see live the data that's being stored.
Competition
There is no direct competition in the sense of what aleph.im is building. There are, of course, variations of the individual parts of aleph.im visible in other projects.
With the modifications the aleph.im team has made to incorporate individual parts into their technology to operate in a complementary manner, we don't believe there's any project that offers what aleph.im does as a complete package at this time.
Filecoin
Filecoin is a decentralized storage network based on the Interplanetary File Storage (IPFS) protocol. It is designed to utilized unused storage globally into an efficient storage market for users to pay for low cost storage.
Arweave
Arweave is a data storage blockchain protocol based on a novel proof of access consensus mechanism that creates truly permanent data storage for the first time. Now data is finally permanent, low-cost, and truly censorship free.
Storj
Storj is an open-source platform that leverages the blockchain to provide end-to-end encrypted cloud storage services.
Siacoin
Sia is a decentralized cloud storage platform similar in concept to Dropbox and other centralized storage provider where instead of renting storage space from a centralized entity, clients rent storage space from other peersTeam Members
The team behind aleph.im consists of seven core members that previously developed Nuls and 5 advisors. They come from diverse backgrounds ranging from finance, cloud, consulting, law, software, fashion, automotive, media, and so on.
Jonathan Schemoul
Founder / CEO
Claudio Pascariello
Co-Founder / Design
Ashley Richardson
Strategy/Business Development
Jonathan Quali
Business Development
Andrew Stock
Infrastructure Consultant
Roger Sutton
Project Manager
Gehendra Acharya
Data Storage Specialist
Florian Le Goff, CEO at Synaps
Advisor
Daniel Bar, Venture Builder
Advisor
Idris Sersoub, Digital Strategy
Advisor
Sergio Flores, Co-Founder Phantasma
Advisor
Reaper Ran, Co-Founder Nuls
Advisor
Roadmap & Events
Past Events
Upcoming Events
Token Sales & Economics
ALEPH token is the utility token of the aleph.im network. It is used for payments in both directions from the network nodes. In the first case, the dApp owners pay for storage, databases, and computational power writing to his dApp data blockchain. Alternatively, application users can pay themselves for the storage of their data or other network usages.
But the core function of the ALEPH token is the incentivization of the network nodes to write messages to the dApp blockchain and pay for network fees instead of the user and provide storage and computational power to the dApps owner.
The dApp owner can also run his own node and eliminate the need to rely on the third party to provide the service, but in that way, he/she participates in the broad network having to backup data on other nodes for his users and allows other dApps to use his node.
Token distribution
There wasn’t an ICO for the token. Instead, the project is self-funded but there was a way of distributing the tokens to the public by staking the NULS cryptocurrency through the POCM (Proof of Credit Mining) system.
The initial supply of the ALEPH token was set at 1 billion but was later cut in half on July 31st, 2020, and is now 500,000,000. Per the update now the token allocation goes as follows:
Old pool (before supply halving) | New Pool |
| Innovation Pool - 150M | Innovation Pool - 50M |
| Marketing Pool - 150M | Marketing Pool - 60M |
| Company Pool - 275M | Company Pool - 150M |
| Business Development Pool - 275M | Business Development Pool - 120M |
| Incentive Pool - 100M (NULS staking) | Incentive Pool - 100M (NULS staking) |
| NULS Foundation Pool - 50M | NULS Foundation Pool - 20M |
The updated token allocation hasn't impacted the incentive pool tokens. In contrast, the other pools were evenly adjusted and reduced to match the whitepaper's initial distribution. The Innovation Pool will be unlocked over a 4.5 year period, ending in 2026. The Marketing Pool will be unlocked over a 5 year period, ending in 2025. The company pool will be unlocked over a 5 year period, ending in 2025.
Business development pool tokens are unlocked but are going to be used according to the development road map. The NULS foundations tokens are to be locked until at least January 2022.
According to the emission rate, per whitepaper, the optimal goal is to achieve 1% over the next 6 years from 10% in the first year and decrease moving forward. This is the adjusted % rate as the inflation rate starts from 4% but considering the token unlock structure, it brings the total emission at approximately 10%.
There are around 87,026,356 ALEPH in circulation as approximately 55M were distributed from the NULS staking and incentive program and the other from the unlocked business development pool. In total, around 89% of the tokes are currently locked.
Market potential
With the solution, the aleph.im network aims at providing the market potential is pretty much the whole cryptocurrency market. Similar to ChainLink, which positions itself as the decentralized oracle for powering dApps, aleph.im could be seen as the cloud service that stands behind many projects and enhances their usability.
Besides solving the problem of dApps scalability and interoperability, the aleph.im network could potentially penetrate other markets outside the blockchain. Those could be enterprise-level cloud computing and cloud storage but also the IoT sector.
In addition, GPDR compliance with the way data is managed can open up more possibilities in the future for projects with decentralized identity solutions. Social media implementation could also be the cornerstone of the project’s success. This is because decentralized social media with the user reward system but without the need to interact directly with the blockchain for the end user just might be the dApp that brings mass adoption. It’s also worth adding that Delchain Limited (Delchain), a leading digital asset financial services provider, announced the launch of its core channel node on aleph.im.
Partnerships
Request Network
The Request Network itself is an Ethereum-based decentralized payment system where anyone can request a payment and receive money through secure means. It removes the requirement for third parties in order to provide a cheaper, more secure payment solution that works with all global currencies.
Exeedme
Exeedme is a fair and trusted Play2Earn gaming platform, built on top of the ethereum blockchain.They enable all gamers to monetize their skills and earn money while playing their favorite games.
Orion Protocol
Orion is a DeFi platform providing B2B + B2C solutions for liquidity. It aims to solve the the largest problems in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform – pulling from every major centralized exchange, decentralized exchange, and swapping pool.
Serum
Serum is a decentralized exchange (DEX) platform built on top of the Solana blockchain platform with the aim of bringing high speed and low cost transactions.
Polygon
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.Github activity
Overview
Main Repos
Commit Activity past 12 months
+866
Last Commit
2 hours ago
Stars
Languages
Community Data and other Key Information
The project has the highest presence on Twitter as is the case with most cryptos, while the next biggest platform is Telegram. It is rather small still in comparison with other projects but the community looks vibrant and is actively participating in the discussion on Telegram.
Resources and Important to Read Articles
- https://aleph.im
- https://medium.com/aleph-im/500-million-aleph-token-reduction-ce8fc6fb79c2
- https://cointelegraph.com/news/aleph-introduces-dapp-to-backup-nft-art-pieces
- https://medium.com/aleph-im/an-nft-backup-dapp-to-protect-your-nfts-66fb3b094152
- https://medium.com/aleph-im/pioneering-decentralized-ipfs-pinning-services-fe31d9d5817b
Disclaimer
NO INVESTMENT ADVICE
The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on).
DO YOUR OWN RESEARCH
Our content is intended to be used and must be used for informational purposes only. It is essential to do your own analysis before making any investment based on your circumstances. You should take independent financial advice from a professional in connection with or independently research and verify any information that you find on our website and wish to rely upon, whether to make an investment decision or otherwise.
