Programmable Privacy Network Aleo Launches Testnet 3 Incentives with Credits Distributed to Provers

According to Foresight News, the programmable privacy network Aleo announces Testnet 3 incentives initially dedicated to provers. Aleo will distribute 25M Aleo Credits to developer, prover and verifier communities during Testnet 3, among which the rewards for provers account for 30%. Credits obtained during the prover incentive period can be converted to Aleo Credits at a 5:1 ratio at mainnet launch.

The prover incentive period will run from 8:00 on December 2, 2022 to 07:59 on January 27, 2023, or until 7.5M credits are distributed up by a first-come-first-served principle.
Aleo Testnet 3 provides a new consensus algorithm, AleoBFT, which combines the proof-of-stake consensus algorithm based on DiemBFT with a workload-based Provers compensation scheme. In Aleo, a prover generates a cryptographic proof, and a verifier checks if the proof is correct without knowledge of the content.

In February 2022, Aleo announces a B round financing up to $200M, led by SoftBank and Kora Management, with participation from a16z, Tiger Global, and Samsung Ventures.


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