{"id":231488,"date":"2021-04-20T21:10:00","date_gmt":"2021-04-20T18:10:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/andreessen-horowitz-leads-28m-aleo-raise\/"},"modified":"2021-04-20T21:10:00","modified_gmt":"2021-04-20T18:10:00","slug":"andreessen-horowitz-leads-28m-aleo-raise","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/andreessen-horowitz-leads-28m-aleo-raise\/","title":{"rendered":"# Andreessen Horowitz leads $28M Aleo raise"},"content":{"rendered":"

“# Andreessen Horowitz leads $28M Aleo raise <\/strong>”
\n<\/p>\n

Aleo, a privacy-focused blockchain, has secured $28 million in investments to bring its zero-knowledge app<\/a>lications to a wider market.<\/p>\n

California-based venture capital firm Andreessen Horowitz led the private investment round. Notable contributions also came from Coinbase Ventures, Galaxy Digital, Variant Fund, Polychain Capital and the Joseph Lubin-led Ethereal Ventures, among others. <\/p>\n

Described as the \u201cfirst platform for fully private applications,\u201d Aleo uses a cryptography technique called zero-knowledge proof, or ZKPs, to achieve scalability, privacy and interoperability for off-chain transactions.<\/p>\n

Perhaps the most notable blockchain use case for ZKP is Zcash, a privacy-focused cryptocurrency that rose to prominence for its special iteration of ZKP known as zk-SNARKs.<\/p>\n

Katie Haun, general<\/a> partner at Andreessen Horowitz, said \u201cprivacy-preserving applications allow users to navigate digital interactions without bias, which, coupled with blockchain technology<\/a>, will create new opportunities for value creation,\u201d adding<\/a>:<\/p>\n

\u201cAleo’s tech has solved critical issues in scaling applications built with zero-knowledge technology, enabling any developer or organization to build and scale a truly private application.\u201d<\/p><\/blockquote>\n

Howard Wu, Aleo\u2019s co-founder, said \u201cprivacy will no longer be merely a feature but will become a core function\u201d of next-generation applications. Aleo\u2019s platform is attempting to make zero-knowledge proofs programmable at every application level. That means applications built on the platform are private by default. <\/p>\n

Andreessen Horowitz has become a prolific investor of blockchain companies, having only recently secured a stake in NFT marketplace OpenSea and Optimism\u2019s L2 scaling solution. In April 2020, the company raised $515 million for its new cryptocurrency fund, easily surpassing its initial goal.<\/p>\n