Sapo: If you’re interested in Layer2 and ZK-Rollup, Aztec Network is probably one of the first names that come to mind. So what does Aztec Network have that gets so much attention? Let’s find out with Crypto Chill!
What is Aztec Network?
Aztec Network is a Layer 2 – ZK-Rollup project, which allows to expand transaction processing capabilities and provide a private transaction solution on Ethereum. Aztec Network uses Zero-Knowledge Proof (ZKP) technology to minimize the volume of information stored on the blockchain while protecting user privacy. Transactions on the blockchain are always public, so if users don’t want their transactions to be tracked, Aztec Network is the answer.
Aztec Highlights:
- Using cryptographic anonymity, sender and recipient identities are concealed.
- The transaction amount is encrypted, making the balance of your cryptocurrency private.
- Network administrators cannot even view your transactions.
- Private transactions are counted in seconds across all devices and reduce gas costs.
- DeFi Compatible: Fund and manage your DeFi locations anonymously and securely with Aztec.
- Programmable: Private money escrow, online money transfers, and micropayments are programmable.
Aztec Network Products
Aztec Network Privacyfirst, Privacy second: For Aztec, user privacy and security come first in any user interaction.
DAOs and NFTs: Users can interact anonymously with DeFi protocols on Ethereum. As a result, Aztec is distinct from other Layer 2 projects in that it does not prioritize the development of its own ecosystem but instead leverages the products and liquidity available on Ethereum. Aztec is regarded as Ethereum’s DeFi Aggregator. Up to 100x cost reduction, eliminating Ethereum’s high fee barriers
Moon mathematics: Aztec employs Plonk proof, which is utilized by a number of well-known protocols, including Mina Protocol, Dusk, Zcash, and ZkSync.
Encrypted DeFi: Aztec will soon release the next version of zk.money and Aztec Connect SDK, enabling the integration of Aztec into projects so that users can access it seamlessly.
Token Overview
Currently, Aztec Network has not issued tokens
External links
- The project has not announced an official roadmap for the near future. However, it has also announced a few upcoming development plans:
- Aztec 3.0
- Implementation of the Noir programming language
- Aztec Connect integration with multiple DeFi projects on Ethereum
- Aztec also announced that it will integrate with many major partners on its homepage.
Project Team
Zachary Williamson, co-founder and chief executive officer, earned a master’s degree in particle physics from the University of Southampton between 2006 and 2010. He became Co-Founder and CEO of Aztec Protocol on November 11.
Joe Andrews, co-founder and head of product, graduated from Imperial College London in 2013 with a Bachelor of Engineering in Materials Science. He currently serves as Co-founder and Head of Product for Aztec Protocol, and as Product Lead for CreditMint.
In addition, the photo below contains additional information about the project team.
Investors and partners
- 29/11/2018: The $2.1M Seed Round was led by ConsenSys and featured Samos Investments, A.Capital Ventures, Charlie Songhurst, Entrepreneur First, Alumni Ventures BlockChain Fund
- 15/09/2019: Seed round does not disclose specific amounts invested by Coinbase, A.Capital Ventures, Libertus Capital
- 15/12/2022: Aztec successfully raised $100M in Series B round led by A16z with some investors SV Angel, Fenbushi Capital, HashKey Capital, A.Capital Ventures, King River, Variant, AVG
- 16/12/2021: Series A raised $17M led by Paradigm and featured IOSG Ventures, A.Capital Ventures, Alliance DAO, Stani Kulechov, Ethereal Ventures, Libertus Capital, Variant Fund, Nascent, IMToken, Scalar Capital, Defi Alliance, ZK Validator, Anthony Sassano, Bankless, Defi Dad, Mariano Conti and Vitalik Buterin
A vision for the future of Aztec Network
- Layer2 and ZK-Roll-up are two irreplaceable arrays in crypto in the face of the industry’s constant trend of substitution and expansion. Although it is an important segment in crypto, according to the employees, the ZK-Rollup wave is still not really strong. In addition, the Aztec team waiting to issue the right token will be very effective, so please wait patiently.
- Aztec is an extremely potential 1 Layer 2 Roll-up with modern technology, quality team and the backing of many big players in the crypto industry
- In the near future, the Aztec ecosystem promises to expand even more, so please follow Allin to get the earliest update on the project
Contact
Website: https://aztec.network/
Twitter: https://twitter.com/aztecnetwork
Discord: https://discord.com/invite/aztec
Telegram: https://t.me/jpegd
Summing up
Through the above article, CryptoChill has helped you know about the Aztec Project and the highlights of the project.
Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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