1 month ago
Aztec, a layer-2 rollup focused connected privacy, shared Thursday that its testnet has yet gone live.
The announcement comes arsenic a question of caller privacy-focused solutions begins to seizure the interests of ample institutions that request confidentiality with ample transaction batches.
The squad down Aztec said that they person been moving connected the merchandise for implicit 8 years, bringing the cutting-edge exertion 1 measurement person to the mainnet.
Aztec differs from different zero-knowledge rollups due to the fact that it is focused connected helping applications and users sphere their backstage details by incorporating encryption connected the protocol level.
“All of the concealed accusation that you privation to support encrypted, it's posted connected our blockchain successful an encrypted form,” said Zac Williamson, the co-founder of the Aztec Network, to CoinDesk.
Layer-2 networks have appeared en masse successful the Ethereum abstraction implicit the past fewer years, and are seen arsenic a faster and cheaper alternate to transacting connected the Ethereum protocol. But Aztec volition person to springiness up elements of that successful bid to sphere its ngo of being privacy-preserving arsenic good arsenic decentralized.
“A afloat backstage transaction volition person much information associated with it, due to the fact that everything is encrypted. Which means that you've required much resources, truthful you cannot standard arsenic much,” Williamson said. “And truthful we are good with that. Aztec's unsocial worth proposition is not scaling. We bash a small spot of that, [because] we are a furniture 2, but we ne'er request to beryllium arsenic inexpensive arsenic different furniture 2s.”
Institutions person agelong sought privacy-preserving tools since they are cardinal to handling delicate transaction information for nationalist ledgers. Aztec raised $100 cardinal successful a bid B successful 2022, led by Paradigm, erstwhile conversations astir blockchain privateness started to instrumentality off.
Recently, privacy-preserving tools are re-emerging arsenic cardinal to the manufacture arsenic large institutions statesman to travel on-chain. On Tuesday, privacy solution Miden said it had raised $25 cardinal successful effect fundingfrom a16z.
Read more: DeFi Privacy Bridge Aztec Connect Sunsets After Less Than a Year
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