The Aztec, a privacy-focused layer 2 rollup, shared on Thursday that its Testnet lastly went reside.
The announcement comes as a brand new wave of privacy-focused options begins to seize the advantages of enormous establishments requiring confidentiality in massive transaction batches.
The group behind Aztec stated that they’ve been engaged on merchandise for over eight years and have taken cutting-edge know-how a step nearer to the mainnet.
AZTEC differs from different Zero Information Rollups because it focuses on serving to functions and customers preserve non-public particulars by incorporating encryption on the protocol degree.
“All the key data you wish to stay encrypted is posted on the blockchain in an encrypted kind,” Zac Williamson, co-founder of the AZTEC community, informed Coindesk.
Layer 2 networks have been bundled into the Ethereum area for the previous few years and are thought of a sooner, cheaper various to buying and selling Ethereum protocols. Nonetheless, Aztec should abandon its parts to be able to preserve its mission to suppress and decentralize privateness.
“As a result of every little thing is encrypted, a totally non-public transaction has extra knowledge related to it, which means it requires extra assets and can’t be expanded,” Williamson stated. “So we’re high-quality with that. The Aztec distinctive worth proposition is not increasing. We do {that a} bit (as a result of we’re layer 2, however we do not have to be as low-cost as the opposite layer 2.”
Establishments have lengthy been searching for instruments that present privateness as they’re key to processing delicate transactional knowledge in public ledgers. Aztec raised $100 million within the 2022 Sequence B, led by Paradigm, when blockchain privateness started to start.
Lately, privacy-intake instruments have reappeared as key to the trade as massive establishments are starting to emerge in chains. On Tuesday, Privateness Options Miden stated it had raised $25 million in seed funding from the A16Z.
Learn extra: Defi Privateness Bridge AZTEC Join Sunsets Lower than a 12 months later
