In this article, we will learn how the first builders of the Aleo ecosystem will be able to successfully execute their startups in the shortest amount of time. We will draw an analogy with the Aptos blockchain, where developers of NFT platforms, name service platforms, and other projects were able to achieve success in a matter of months.
What is Aleo?
Aleo is the first blockchain to offer fully private applications. Aleo was backed by the world's best venture capitals: Andreessen Horowitz (a16z), Slow Ventures, Samsung Next, Softbank, Kora Management and others. A total of $300M was invested in the project.
Aleo developed their programming language Leo — it is like Solidity for Ethereum, but it is as similar to Rust as possible, which makes the onboarding process for web2 programmers much easier. Aleo hasn't launched the core network yet, but plans to do so in the next few months. So if you are planning to move to web3, you can start with Aleo — because there are no projects on this blockchain yet, which means you can be one of the first.
Let's look at a similar example on the Aptos blockchain, where programmers learned how to work with the new Move language and were able to implement startups without competition, so developers were able to achieve high profits.
Aptos — a story that happened in October 2022
Aptos is another L1 blockchain in which smart contracts are based on the new Move programming language. Developers were encouraged to launch their startups with support from Aptos itself, making the ecosystem explode and even not-so-professionally executed projects could generate 6-figure profits. Let's look at some examples:
- Bluemove — NFT platform.
Initially a minimally viable product with two functions: running NFT collections through Launchpad, and NFT listings.
It was Launchpad that was able to generate the most revenue — the project launched over a hundred collections with a combined value of over $200'000. And that's in just 3 months! Take a look for yourself.
And I'm not talking about commissions for NFT sales! By and large, it's Opensea-2021, but in the Aptos ecosystem — you don’t have competitors, just make a profit on commissions and do nothing.
This was originally a community-developed project, but Aptos Labs bought it out for an unnamed amount. But let's see how many addresses have been minted, as well as the minimum minting price here.
The minimum price to mint an address is 5 $APT, which is now $40.
There are two counters in the contract:
Unfortunately, I don't know which one we need. I'm assuming register_name is all registrations including the creation of subdomains, which is a free feature. So let's assume that the address was minted 28954 times for a fee.
$8 × 5 $APT × 28954 = $1158160
Let me remind you that the Aptos network launched on October 12, 2022.
What is Leo?
Leo is a programming language specifically designed for the Aleo blockchain. It's like Solidity for Ethereum, but Leo is as similar to Rust as possible, so you won't find it difficult even if you've had bad experiences with Solidity. I wrote an article on this topic, read it if you haven't already.
I want to do the same, what should I do?
If you're confident in your coding skills, I recommend you start here; you can also check out their Github.
Right now the blockchain is in the testing phase, Aleo is successfully running its third test network and this time developers can try deploying their own smart contracts. And there are a lot of people just like you! The Aleo community is very kind-hearted and will always help you in case you have problems with Leo development. If you have questions, ask them on their Discord.
Grants?
Aleo also financially supports startup projects, go here for that, and by the way, Aptos has not supported ecosystem projects financially. Only helped to attract an audience. So this will make it easier for you to start the project.
The Leo programming language is as similar as possible to the popular Rust, and if you know a Rust programmer, be sure to show them this article!