Aztec is an open source layer 2 network.
The AZTEC protocol is a second-layer solutions that uses zero-knowledge proofs and confidential transactions to enable confidential transactions for any generic digital asset on Ethereum, including existing assets.
Aztec is an open source layer 2 network.
Continuing our series of blogs on the best early Etherium scaling projects, it’s time to share what we know about the new protocol.
Like I said, the project solves the problem of scalability while also providing you with a so-called shield that will protect your money in the new Web3 realm.
Aztec Connect allows users to privately access world-class DeFi services on Ethereum with up to 100x cost savings while strengthening Aztec’s existing privacy safeguards.Everything works in such a way that thanks to the protocol, not only the confidentiality of personal data is preserved, but also the anonymity of transaction amounts, validators and network users will not be able to understand the essence of the operation, they will not be able to understand who exactly can be the intended sender and who is the recipient.
So in this case you could be some combination of internal transactions summing up 10E:
10 domestic transfers 1E
100 domestic transfers 0.1 E
1000 domestic transfers 0.01 E
Being built on top of PLONK, the protocol ensures transaction speed, De-Fi anonymous governance compatibility, and finance programmability.
The team also recently announced the launch of Aztec Connect, which is a truly revolutionary event and will allow a huge number of users to interact with decentralized services and at the same time save commission costs by almost a hundred times, while remaining almost completely anonymous. Connect combines privacy and scalability for money markets, dex, liquid rate pools, derivatives and more.
the next great news is the closing of a $17 million funding round from Paradigm with the support of existing partners a_capital, Ethereal Ventures and Libertus Capital, as well as with the participation of the fund Variant, Nascent, imToken, Scalar Capital, Defi Alliance, IOSG Ventures and ZK Validator, as well as leading angels including Anthony Sassano, Stani Kulechov, Bezcashny, Defi Dad, Mariano Conti and Vitalik Buterin.
the ecosystem of the project is actively developing and attracting a lot of attention, the project is also at an early stage and I advise all of you, as always, to follow his social networks, and also be active in the discord community.