1. Project Introduction

Alephium is the first operational sharded L1 blockchain scaling and enhancing PoW & UTXO concepts.

Alephium is built on a novel and complete sharding algorithm called BlockFlow. It improves on the UTXO model of BTC to make it scalable and uses DAG data structure to reach consensus between different shards. This will allow up to 10,000 Transactions Per Second (currently more than 400 TPS vs Bitcoin's 7 TPS).

Alephium employs 'Proof of Less Work', which combines physical work and coin economics to dynamically adjust the work required to mine new blocks. Given the same network conditions, Alephium uses ~90% less energy compared to Bitcoin.

Alephium introduces the stateful UTXO model offering layer-1 scalability and the same level of programmability as the account model used on ETH, whilst being more secure.

2. Team Introduction

Founder & Core Developer: Cheng Wang

COO: Maud Simon

CFO: Philipp Richner

3. Token Distribution

The token supply on Alephium is limited with a hardcap of 1 billion. At Mainnet Launch (11.8.21), an initial supply of 140M tokens (14% of the hardcap) was mined with the genesis block. The remaining supply of ALPH tokens will be mined over the next ~80 years. Of these 140M tokens:

80M tokens (8%) 🤝 Pre-sales and future strategic private sales. Vesting periods varying from 2 to 4 years.

30M tokens (3%) 💡 Community and ecosystem development. Locked on-chain for 4 years and vested quarterly.

30M tokens (3%) 🧑‍💻 Treasury & Team. Locked on-chain for 3 years, and vested quarterly.

860M tokens (86%) 🌊 Mining Rewards. These tokens will be used for mining rewards over the next ~80 years. They ensure the processing of transactions and the execution of smart contracts on the Alephium blockchain.

In addition, all transaction fees are burned with each block and Proof of Less Work enables internal mining cost through burning when the hashrate and energy consumption are significantly high.