Aztec, a Layer-2 rollup focused on privacy, shared Thursday that his test network finally went live.
The announcement comes as a wave of new privacy -oriented solutions starts to capture the interests of large institutions that need confidentiality with large transaction batches.
The team behind Aztec said that they have been working on the product for more than 8 years, making the advanced technology a step closer to the Mainnet.
AZTEC differs from other zero-knowledge rollups because it is aimed at helping applications and users who retain their private details by including coding at the protocol level.
“All the secret information you want to encrypt, it has been posted on our blockchain in a coded form,” said Zac Williamson, the co-founder of the AZTEC network, to Coindesk.
Layer-2 networks have appeared en masse in the Ethereum space in recent years and are seen as a faster and cheaper alternative to transactions on the Ethereum protocol. But AZTEC will have to specify elements of this to maintain its mission to maintain both privacy retention and decentralized.
“A completely private transaction will have more information, because everything is encrypted. Which means that you need more resources, therefore you can’t scale,” said Williamson. “And so we are fine. [because] We are a layer 2, but we never have to be as cheap as other layer 2s. “
Institutions have long searched for tools for preserving privacy, because they are the key to processing sensitive transaction data for public grandbooks. Aztec collected $ 100 million in a series B in 2022, led by Paradigm, when conversations about blockchain privacy started to start.
Recently, privacy-retaining tools have come up again as the key to the industry, because large institutions are starting to come on-chain. On Tuesday, privacy solution ants said that the $ 25 million in seed financing had collected from A16Z.
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