App platform Zero Knowledge Aleo has raised $200 million in a solid investment round, driving the company forward and supporting its goals of developing products and services that encourage and help developers build apps on top of their decentralized network.
She led the Series B investment round by Kora Management LP and SoftBank Vision Fund 2, investing in fintech projects in emerging digital economies. Samsung Next has also been involved in the increase with Tiger Global, Sea Capital, Slow Ventures and Andreessen Horowitz (a16z).
Aleo is building a network that integrates zero-knowledge proofs, a coding technology that allows the platform to be scalable, private, and functional.
Aaron Wong, an investor with SoftBank Investment Advisers, says Aleo builds the foundation that makes Web3 scalable, secure, and secure. Wong added that it will also improve financial transactions and gaming applications.
As the blockchain industry continues to evolve, it is proving its ability to support a specific digital ecosystem through accessibility, efficiency, and interoperability.
Daniel Jacobs, founder of Kora Management LP, says the industry’s biggest concerns are privacy and scalability. According to Jacobs, Aleo will “have a significant impact on a large and growing number of applications in the blockchain space and beyond.”
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Jacobs explained that the project can secure user and application identities without the performance penalty needed to support multiple users. He also noted that Aleo will be a catalyst that will boost the development of next-generation games, decentralized finance, and other beneficial issues in the blockchain industry.
As Cointelegraph reported in April, Aleo received $28 million in a private investment round to bring the zero-knowledge application platform to a wider audience. Venture a16z led the effort, followed by investments from Coinbase Ventures, Galaxy Digital, and others.