Alephium

Alephium (ALPH) is a blockchain platform designed to enhance scalability, security, and decentralisation using a unique technology called BlockFlow. BlockFlow combines sharding and the UTXO (Unspent Transaction Output) model to enable high transaction throughput, supporting over 10,000 transactions per second. This approach allows for efficient and parallel processing of transactions, reducing network congestion and improving overall performance. Alephium aims to address the limitations of existing blockchain networks by providing a scalable and secure infrastructure for decentralised applications (dApps) and smart contracts​​​.

Alephium (ALPH) serves several key purposes within its ecosystem:

Transaction Fees: ALPH tokens are used to pay for transaction fees on the Alephium network, including fees for transferring tokens and executing smart contracts.

Mining: Alephium uses a Proof of Less Work (PoLW) consensus mechanism, where users can mine ALPH tokens. This process helps secure the network and validate transactions. Unlike many other blockchains, Alephium does not support staking; it focuses solely on mining for network security​.

Smart Contracts and dApps: ALPH is used to deploy and interact with smart contracts and decentralised applications on the Alephium blockchain. This facilitates a wide range of decentralised services and solutions, enhancing the flexibility and utility of the platform​​.