Programmable Privacy Network Aleo Launches Testnet 3 Incentives, Aleo Credits Will Be First Distributed to Provers

Programmable privacy network Aleo announces Testnet 3 incentives, the initial portion of the incentive program will be dedicated to provers. Aleo will distribute 25 million Aleo credits (Aleo Credits) to the developer, certifier and verifier communities on the testnet 3, among which, the rewards for the certifier account for 30%, and the credits obtained during the certifier incentive period can be used on the main Convert to Aleo Points at a 5:1 ratio when online. The prover incentive period will run from 8:00 on December 2, 2022 to 07:59 on January 27, 2023, or until 7.5 million credits are issued by the network, whichever comes first. Aleo Testnet 3 brings a new consensus algorithm, AleoBFT, which combines the proof-of-stake consensus algorithm (based on DiemBFT) with a workload-based proofer (Provers) compensation scheme. In Aleo, a prover generates a cryptographic proof, and a verifier checks that the proof is correct without knowledge of the content. In February 2022, Aleo announced the completion of a $200 million Series B round of financing, led by SoftBank and Kora Management, with participation from a16z, Tiger Global, and Samsung Ventures.