NEW: AleoHQ raised $200 million from SoftBank and others to build out its privacy-focused smart contracts platform. realDannyNelson reports
Pledging to launch its private, programmableblockchain network “later this year,” crypto startup Aleo Systems Inc raised $200 million in a recent funding round.
The round comes as Aleo shifts into layer 1 launch mode. It’s privacy-focused tech differs substantially from decentralized finance’s most popular programmable blockchains, like Ethereum with its built-in openness. That makes success hardly a guarantee, even in a frothy maket. Nonetheless, Aleo’s backers believe there’s demand for scalable privacy networks. In an interview with CoinDesk, COO Alex Pruden, an a16z veteran, said regulators, consumers and businesses could all benefit from the system Aleo plans to deploy.“The way to think about it is, Aleo is like if the Ethereum model and the Zcash model had a baby,” he said. An alternative analogy: “Zcash with smart contracts.
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