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Alephium is a highly scalable sharded L1 blockchain built on a novel and complete sharding algorithm called BlockFlow. It improves upon Bitcoin's UTXO model to make it scalable, and uses a DAG data structure to achieve consensus across different shards, enabling up to 10,000 transactions per second (currently over 400 TPS, compared to Bitcoin's 7 TPS). Alephium introduces a stateful UTXO model that provides Layer 1 scalability and programmability on par with the account model implemented on ETH, while being more secure. PoLW is Alephium's consensus algorithm. It optimizes the network's energy consumption without compromising security or decentralization.
ALPH is Alephium's native token. On Alephium, all tokens are managed by UTXOs, and UTXOs are directly owned by addresses. This design offers several advantages compared to other blockchains:
Token transfers between users require only UTXOs.
Wallets and dApps can more easily discover a user's tokens, including both FTs and NFTs.
No additional approval transactions are needed when smart contracts transfer tokens, as approvals are inherently implied in the UTXO model.
Token transfers are highly scalable because they fully leverage Alephium's sharding design.
On September 10, 2021, Alephium raised $3.6 million in funding.
