Aztec Network
Aztec Network Layer 2 solution profile covering insights into its funding and platform features.
United Kingdomaztec.networkFounded 2017
About
Aztec Network is a Layer 2 solution (L2) for Ethereum that offers a privacy-oriented Ethereum L2 zk-rollup for the blockchain ecosystem. In contrast to standard blockchains, where all information is stored publicly, Aztec Network allows its users and developers to determine which information should be kept confidential but still enjoy all the benefits provided by Ethereum's security features. Aztec Network uses zero-knowledge proofs technology, or zkSNARKs, to protect users' transactions, identities, and smart contract data by encrypting it despite verifying it via the blockchain. Key Features of Aztec Network: • Provides programmable privacy through private smart contracts in DeFi, voting, and secure applications. • Deploys a hybrid approach, where execution is private on one hand and public on the other hand. • Facilitates account abstraction via smart contract accounts with customizable security levels. • Offers affordable transactions and fee reduction as a Layer 2 scaling mechanism. • The AZTEC cryptocurrency serves as the native currency of the network.
Funding
- Series Ba16z crypto10,00,00,00015 Dec 2022
- Series AParadigm1,70,00,00016 Dec 2021
- Seed Roundconsensys21,00,00029 Nov 2018
FAQs
- It is a privacy-oriented Layer 2 solution built for Ethereum that makes transactions and smart contract executions possible without the need to reveal personal information.