Aleph Report by Jesse

As always It’s my pleasure to welcome you to this week's crypto review where we take an in-depth look at some of the latest and most talked about projects in the space. This week we’ll be stepping back into that hot Defi space to review a new project called Aleph.im.

Introduction

Aleph.im (ALEPH) is a cross-blockchain layer-2 network built on the NULS ecosystem and focused on decentralized applications and their related infrastructure (storage, computing servers, security). Where the projects focus is to decentralize and revolutionize the web and cloud services. Many of the current blockchain-related technologies cannot scale to the levels needed for large applications (social networks, web apps, IoT providers, etc) used on a daily basis. Aleph intends to provide a solution to these issues by offering fast single cross-technologies and cross-chain solutions on a decentralized and reliable ecosystem.

Aleph launched their mainnet on June 4th, 2019 with their website currently operating off that network. Aleph is building this second layer solution by adding an extra layer of truth to the existing smart contract economy via “agents” running API servers. Agents will commit the messages on the blockchain for the users and be incentivized to do so by the network's token. They will then spend the native chain asset and receive the token in exchange for their service. Then that agent's work will be verified by the previous agent, validating the transaction and increasing the agents credit score. This will allow for free and instant interaction with dapps for efficient batched inserts on the blockchain. The hashes of the data are stored on-chain but the data itself is stored encrypted or not on IPFS. Posting is done either via API by the dapps