[PRESS RELEASE – Lausanne, Switzerland, 9th September 2021]
Alephium, a simple and efficient sharding-based blockchain, has pre-sold for over $3.6 million of tokens to several major funds and a large number of small buyers, with over 76 contributions in total.
The pre-sale was led by Alphemy Capital, with participation from White Paper Capital and Archery Blockchain. A significant portion of the pre-sale was funded by individuals, with 76% providing less than $50,000 and 91% less than $100,000. Over half of the purchasers were Swiss residents.
The Alephium blockchain is powered by the unique BlockFlow sharding architecture, based on stateful UTXO transactions. Native single-step cross-shard transactions ensure that Alephium is as efficient as a single-chain blockchain while spreading the transaction load between nodes.
Alephium’s secure smart contract and novel VM designs leverage a UTXO execution model that can truly be considered as a whole new dApps programming paradigm that can be ideally used for performance-oriented and secure DeFI.
The Alephium team is currently using a modified version of Proof of Work dubbed Proof of Less Work. PoLW uses a clever combination of physical work and token economics to dynamically adjust the work required to mine new blocks, ensuring a reduced energy footprint compared to classic Nakamoto PoW mining.
“After over 3 years focussed exclusively on research and development, we are proud and humbled by the success of the pre-sale achieved without any marketing or active online presence,” said Cheng Wang, Co-founder of Alephium. “It is rewarding to see the interest raised by our technology, and we are excited to have this pre-sale kick-off the expansion of the Alephium blockchain and create the grounds for a broader community.”
Alphemy Capital focuses exclusively on technologies that will constitute the fundamental infrastructure of the global economy, particularly those which safeguard decentralization to the benefit and for the sustainable growth of the future web ecosystem.
“Blockchain technologies need to address scalability and energy consumption issues to reach mass adoption. Alephium proposes a unique approach to sharding and smart contracts on the Bitcoin technology stack while tackling energy concerns with its Proof of Less Work algorithm. It is a really promising project in the sharding blockchain domain and we look forward to seeing how it will develop.” said Alphemy Capital.
Alephium is the first operational sharded blockchain bringing versatility, scalability, and energy efficiency to Bitcoin’s proven core technologies while offering better performance and secure smart contracts. Alephium also focuses on usability and accessibility, making it the perfect platform to support decentralized applications and open protocols.